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Course/Product Description

Fundamentals Of Foreign Trust Administration

Date / Time: Recorded
Format: Webinar

Many U.S. taxpayers have or are considering establishing a foreign trust for privacy, asset protection or other purposes. In addition, many nonresident aliens establish foreign trusts before moving to the U.S.

This webinar will help you understand the different types of foreign trusts, how they are administered, the U.S. tax treatment of foreign trusts and their grantors and beneficiaries. It will also help you understand and comply with the FATCA rules and the new withholding tax applicable to foreign entities, including foreign trusts.


Overview of Foreign Trust Issues

When Is a Trust a Foreign Trust
  • Foreign Governing Law
  • Change in Situs and Governing Law Provisions
  • Liechtenstein Siftungs, Swiss Foundations; Panama Foundations; Nevis Privacy Trusts
  • Foreign Trustees
Types of Foreign Trusts
  • Foreign Grantor Trusts
  • Foreign Nongrantor Trusts
  • Simple vs. Complex Trusts
  • Absolute vs. Discretionary Trusts
  • Privacy Trusts
  • Asset Protection Trust
Administration of Foreign Trusts
  • Corporate Trustees
  • Letters of Wishes
  • Protectors
  • U.S. Persons as Excluded Beneficiaries
U.S. Tax Issues
  • Classification of Foreign Entities as Trusts or Corporations
  • Section 679
  • U.S. Grantor
  • Foreign Grantor and 5 Year Rule
  • Form 3520 and 3520-A
  • Accumulation Distributions
  • Nonqualifying Loans From the Foreign Trust
  • Professional Trustees and Participating FFI Status
  • Other Trustees and NFFE Status
  • Reporting by Foreign Trust
  • Reporting by U.S. Beneficiary on Form 8938
FinCEN Form 114 Reporting Requirements
About The Presenter

Charles K. Kolstad
  • Counsel in the Los Angeles Office of Venable LLP
  • Advises accountants, business managers and clients throughout the U.S. on the income tax issues and reporting requirements that arise when individuals or companies conduct business outside of the U.S.
  • Advised on a wide range of out-bound and in-bound partnership and corporate transactions
  • Represents some 50 clients with unreported foreign bank accounts
  • Frequent speaker on income tax and international reporting requirements, and regularly prepares tax bulletins on topical issues
  • During his career, he has been a tax partner at both Coopers & Lybrand and Ernst & Young
  • J.D. degree, The University of Notre Dame; M.B.A. degree, Columbia University; B.Sc. degree, Villanova University

Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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