TRUSTS
US Tax Compliance

The combination of complying and filing all relevant tax forms in the United States along with effective tax planning can be a daunting, time consuming and potentially expensive experience. The United States will also frequently try to collect significant penalties for failure to comply.

At US Tax and Financial Services we advise several hundred clients each year and prepare:

Determinations of taxable income/gains earned by trusts for US reporting purposes

Review of trust structures and their impact on an individual's US tax obligations

Preparation of Form 3520 for the receipt of distributions from foreign trusts

Preparation of Form 3520A for foreign trusts established by US taxpayers

Preparation of forms required for business assets held by foreign trusts e.g. Form 5471, Form 926 and Form 8621 when foreign trusts own controlled foreign entities or invest in collective investment vehicles (known as Passive Foreign Investment Companies---PFICs)