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In our highly mobile world, it is increasingly common that trustees of ‘offshore’ trusts find themselves with a beneficiary (or two) who has US connections. Whether it is US residence status, a green card or US citizenship, the presence of a US beneficiary presents unique obstacles for trustees, particularly where there are other beneficiaries who do not share the US connection. This presentation on ‘dealing with US beneficiaries’ will focus on (i) what makes a person a ‘US person’; (ii) the US classification of trusts for income tax purposes; (iii) the US taxation of foreign trusts; (iv) reporting for US beneficiaries; and (v) potential planning opportunities.

CPD Hours: 1


For more information on this seminar, please visit the STEP website.