FATCA: Who Must Report by March 31?
The deadline for a Participating Foreign Financial Institution (PFFI), including a Reporting FI under a Model 2 IGA to complete its FATCA...
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Elizabeth A. McMorrow
Oct 24, 2019
Foreign Trusts: South Dakota Regulators’ Tips
The South Dakota Trust Association hosted its third annual Fall Forum on October 17 & October 18, 2019. We were fortunate to have Scott...
Elizabeth A. McMorrow
Oct 10, 2019
Foreign Trusts: Head to Sioux Falls October 17 & 18
The South Dakota Trust Association is hosting its third annual Fall Forum on October 17 & October 18, 2019 at Sioux Falls Convention...
Elizabeth A. McMorrow
Jun 12, 2018
FATCA: USFIs & Foreign Grantor / Non-Grantor Trusts' Mandatory IRS Certs
The first round of IRS compliance certifications begins this summer. The current deadline is likely October 2018: 90 days after the IRS...
Elizabeth A. McMorrow
Apr 6, 2018
Foreign Grantor Trust IRS Form 3520 Filing Date Changes
For tax years beginning after 2016, the due date for a U.S. person to file IRS Form 3520 has changed to the fifteenth day of the fourth...
Elizabeth A. McMorrow
Dec 28, 2017
What Is a Foreign Grantor Trust?
A trust is established in a U.S. jurisdiction such as South Dakota and a South Dakota trustee is appointed. How could this trust be...
Elizabeth A. McMorrow
Dec 26, 2017
New Filing Requirement for LLCs & U.S. Foreign Grantor Trusts
As of January 1, 2017, U.S. Limited Liability Companies (“LLCs”) that are wholly owned, directly or indirectly, by one foreign person,...
Elizabeth A. McMorrow
Sep 8, 2017
FATCA: Foreign Grantor Trust Classification Strategy
In the FATCA world, some trusts are Foreign Financial Institutions (FFIs) and some are Non-Financial Foreign Entities (NFFEs). For those...
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