The following tool can assist you determine if you are the beneficiary or trustee of a foreign or U.S. trust and the potential U.S. tax filing requirements.
Answer the following yes or no questions to determine if the trust is a foreign or U.S. trust and what are your filing requirements.
1. Is the applicable law of the trust, which can be found in the trust agreement / instrument, of a non-U.S. jurisdiction?
2. Are any of the substantial decisions of the trust (see our foreign trust FAQs) controlled by a U.S. person (citizen, greeen card holder or U.S. resident)?
3. Is the trust a revocable trust?
4. Are distributions only allowed to be made to the settlor or the settlor’s spouse?