This course introduces United States tax considerations (both income and estate/gift) associated with foreign trust structures. The program reviews classification considerations under American rules for foreign trust structures, then details how a trust becomes “foreign” under U.S. standards.

Learning Objectives
  • Discover how to determine whether a foreign entity is a passive foreign investment company.
  • Explore and understand the default rules for PFIC taxation and elections available to alter the same (QEF and MTM elections).
  • Identify and learn how PFIC interests are reported for tax return purposes.
Last updated/reviewed: March 26, 2024
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Foreign Trusts for U.S. Taxpayers8:12
  Foreign Trusts Threshold Considerations18:45
  Classification of Foreign Trusts14:36
  Special Rules for Foreign Income and PFIC Interests13:18
CONTINUOUS PLAY
  International Tax: Foreign Trusts for U.S. Taxpayers54:51
SUPPORTING MATERIAL
  Slides: International Tax: Foreign Trusts for U.S. TaxpayersPDF
  International Tax: Foreign Trusts for U.S. Taxpayers GlossaryPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam