Recent US tax and related developments impacting trusts, foundations, establishments, and trust regs

摘要

With all of the hullabaloo involving US tax and ‘offshore’ related issues, 2012 is a perfect time to recap recent US developments impacting the area of trusts, foundations, establishments, and trust enterprises. This article will briefly discuss the US classification of said vehicles as well as recent reporting and other related requirements imposed by the United States as a consequence of recent developments. As there have been no fundamental changes in the US tax treatment of trusts and companies for well over 15 years, US tax treatment of trusts and companies is not covered in this article.