ENG2421. Foreign Gift & Trust Reporting Forms 3520 and 3520A (TAX, EST)

In this session, we will be discussing the tax issues related to foreign trusts including income tax, gift tax and estate tax ramifications. These taxes can often intersect in unexpected ways.

Learning Objectives:

• Identify the tax characteristics of a foreign trust.
• Recognize the intersection of income/estate/gift with foreign trust planning.
• Identify the foreign reporting obligations with respect to foreign trusts.