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Course/Product Description
Title:

Form 3520 Foreign Trust Reporting: Filing Deadlines, Requirements, And Liabilities

SKU:WC-1026467
Date / Time: Recorded
Format: Webinar
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Description:

Do you know whether a trust is a foreign trust or a U.S. trust and the different filing and reporting requirements applicable to each? Do you know that a U.S. trust can become a foreign trust if there is a change of trustees?

This webinar will address these and many other questions, help you understand how to complete the forms so that they will be accepted by the IRS, help you advise clients who have failed to file the forms in prior years and understand the penalties that might apply in such cases as well as how to reduce such penalties.

AGENDA

How to Determine Whether a Trust Is a U.S. or Foreign Trust, When That Characterization Might Change, the U.S. Filing Requirements for Foreign Trusts on Forms 3520 and 3520-A

What Are Reportable Events?
  • Transfers of Assets to Foreign Trusts by U.S. or Foreign Grantors
  • When Are Debt Obligations Deemed to Be Trust Distributions?
  • The Qualified Debt Obligation Exception, Gratuitous Transfers
  • Distributions From Foreign Trusts and Interest Charge Calculations, Bequests From Decedents, etc.
The Rules Under Sections 679, 6048 and 6677 Which Are Applicable to Foreign Trusts Will Be Reviewed
The Filing of Delinquent Forms, Including the Various Options Available Under the 2014 Offshore Voluntary Disclosure Program
How to Establish Reasonable Cause Under the Different Penalty Exceptions
About The Presenter

Charles S. Kolstad
  • Tax partner in the Los Angeles office of Mitchell Silberberg & Knupp, LLP
  • Represented some 160 clients with unreported foreign bank accounts, foreign trusts, etc.
  • 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 nonresident aliens planning on moving to the U.S. on the U.S. tax reporting requirements that apply once they become a U.S. tax resident, pre-immigration planning to step-up basis of assets, eliminate U.S. tax on previously earned income, etc.
  • 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 LLP and Ernst & Young LLP
  • 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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