Jennie is a partner in the New York office of KHD concentrating on international tax and cross-border succession planning. Jennie coordinates the Firm’s due diligence and compliance practice, having worked with the Foreign Account Tax Compliance Act (FATCA) since it was first introduced. Jennie also guides family clients regarding compliance under the Common Reporting Standard (CRS) in the various jurisdictions where trusts and companies are established. She assists with determining the FATCA and CRS status for each entity within a planning structure then helps the family office to implement due diligence and reporting procedures. An expert on IRS W-8 forms and CRS self-certifications, Jennie assists clients with completion of forms, subscription agreements, and account opening documentation. Jennie advocates to minimize incorrect reporting. The Firm is an enrolled third-party filer for FATCA reporting purposes and Jennie prepares and submits reports for certain foreign entities under Model 2 IGAs and the FATCA Regulations. She also assists with the submission of FATCA and CRS reports on exchange of information portals in various jurisdictions. In addition to family clients, Jennie represents both US and offshore trust companies, assisting them with FATCA classifications, due diligence, and reporting. She regularly conducts training programs and due diligence reviews. Onshore, Jennie advises on foreign bank account reports (FBAR), reporting on Form 5472 required of foreign-owned single member LLCs, and other compliance obligations. Jennie is a firm believer in the positive use of trusts within an international succession plan.
Jennie is lead editor for the firm’s Private Client and Offshore Services: USA updates published regularly through International Law Office on Lexology, a newsfeed service delivering a comprehensive source of international legal updates, analysis and insights. Registration to receive these updates when posted is free and relevant to clients, lawyers, family offices, trust officers and private client advisors. In addition, the KHD updates can be accessed via the firm’s website under “Resources.”
Having practiced in the trusts and estates area for more than thirty years, Jennie has had extensive experience in the most sophisticated estate planning techniques. Jennie’s focus is the preparation of and tax advice related to foreign trusts and their holding companies in various offshore jurisdictions. In addition to succession planning, Jennie has handled numerous estate administrations. Jennie’s concentration on international tax and cross-border estate planning has provided valuable experience including:
• offshore trust creation and administration for U.S. citizens or residents and for non-residents not citizens of the United States;
• qualification of offshore trusts as foreign grantor trusts for U.S. income tax purposes and annual reporting requirements;
• succession planning for non-US citizens resident in the U.S. and U.S. citizens resident outside the U.S., many of whom own property in a third country;
• estate administration proceedings in England, France, and other countries combined with U.S. estate tax proceedings and treaty issues.
Jennie served for several years as secretary for the New York Branch of the Society of Trust and Estate Practitioners (STEP) and is currently lead editor of the Editorial Board for the STEP United States Jurisdiction Report available at STEP. Jennie was Boston College Law School Cite and Substance Editor for the Environmental Affairs Law Review. She is a member of the Probate Section and Solicitors Abroad of the Law Society for England and Wales. Jennie has served on the Trusts, Estates and Surrogate’s Courts Committee of the New York City Bar Association and spoken on U.S. tax considerations relevant to offshore trusts as a member of past faculties of the IBC Annual International Trust & Tax Planning Conference.