Business Trends: International Tax: US Reporting of Foreign Assets


Course Description
As taxpayers continue to expand their businesses, revenue sources and assets globally, there is a rise of ownership of foreign assets by U.S. persons and U.S entities. U.S. taxpayers with foreign assets have an increase in international and U.S. filing obligations to report the ownership and income from such assets. It is important for assets to be reported annually due to the increased scrutiny by the US and foreign taxing authorities and due to the escalation in civil and criminal penalties being assessed for failure to comply.

Learning Objectives:
- Review the US foreign bank account reporting (FBAR) obligations
- Discuss the US reporting obligations of ownership in foreign entities such as foreign corporations and foreign partnerships
- Review the US reporting obligations of being an owner or beneficiary of a foreign trust
- Identify the US reporting obligations associated with ownership in a foreign mutual fund (PFIC Reporting)
- Analyze the US reporting obligations associated with ownership in a foreign pension

CPE Information
CPE Credits: 1
Field of Study: Taxes
Level of Knowledge: Basic
Delivery Method: Web-Based Group Session

Additional Information:
These are web-group seminars. No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 701.476.8773.

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