In the News


Trust Protectors: Reportable Under CRS, but not Under FATCA

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

It has become fairly common practice for settlors to name a trust protector when settling a trust, particularly when a commercial trust company is named as trustee. The Organisation for Economic Cooperation and Development (OECD) Common Reporting Standard (CRS) Implementation Handbook describes a protector as enforcing and monitoring the trustee’s actions, “such as overseeing investment decisions or authorising a payment to a beneficiary”. October 20, 2016. Download