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Common Reporting Standard Considerations for FATCA-Compliant Trusts

  • picture of Jennie Cherry
    Jennie Cherry
  • picture of Rashad Wareh
    Rashad Wareh
  • picture of George N. Harris, Jr.
    George N. Harris, Jr.

The Foreign Account Tax Compliance Act (FATCA) is in full swing. Non-US financial institutions have completed reporting of US account holders for tax year 2014 and will soon begin compiling details for their 2015 FATCA reports. Just as international families and their advisers are getting used to myriad requests for FATCA Form W-8 certification forms, more than 90 other countries have indicated that they wish to address tax evasion through a global exchange of financial information by implementing the Common Reporting Standard (CRS) which, like FATCA, will affect non-US trusts and their trustees. February 4, 2016. Download