Discussion:Self-appointed Agent for Form 3520
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| Revision as of 16:32, 6 November 2009 DaveFogel (Talk | contribs) (John Dillinger,) ← Previous diff |
Current revision Lalva (Talk | contribs) (Thank you so muc) |
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| On this blog, in response to a question from someone who said that they couldn't get the bank trustee to sign the form, Mr. Dillinger said that the Settlor and Trustee are both responsible for filing the form. He recommended that the Grantor should file the form and sign it, but write "Grantor of the Trust" on the Title line. | On this blog, in response to a question from someone who said that they couldn't get the bank trustee to sign the form, Mr. Dillinger said that the Settlor and Trustee are both responsible for filing the form. He recommended that the Grantor should file the form and sign it, but write "Grantor of the Trust" on the Title line. | ||
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| + | {{ForumReplyPost|UserID=Lalva|Date=6 November 2009|Text=Thank you so much Dave. Very informative website.}} | ||
Current revision
Discussion Forum Index --> Advanced Tax Questions --> Self-appointed Agent for Form 3520
Discussion Forum Index --> Tax Questions --> Self-appointed Agent for Form 3520
| 6 November 2009 | |
| Hello all,
I am preparing form 3520 for a client and a friend of hers (that called the IRS) was told that she should appoint herself as a U.S. Agent of the foreign trust. TP is a US citizen. This is in relation to a Mexican bank trust "fideicomiso". It is a Revocable Master Trust, in which the bank has naked title of land (that is subdivided) and foreigners become beneficiaries of the lots. I am reading Notice 97-34 and it says that there has to be a biding contract between the trust and the agent, and that the US agent has to provide trust documents if the IRS requires them. My client only has documents pertaining to her particular property. I was wondering if anyone thinks that it is a good idea for her to claim that she is the US agent of the foreign trust. | |
| 6 November 2009 | |
| John Dillinger, CPA, who has prepared a lot of these returns, has a blog that discusses Fideicomisos and 3520s. Here's the link: http://fideicomiso.wordpress.com/ I am not associated with Mr. Dillinger nor do I have any opinion as to the quality of his advice.
On this blog, in response to a question from someone who said that they couldn't get the bank trustee to sign the form, Mr. Dillinger said that the Settlor and Trustee are both responsible for filing the form. He recommended that the Grantor should file the form and sign it, but write "Grantor of the Trust" on the Title line. | |
