Discussion:Voluntary Disclosure for Mexican Fideicomiso?
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Revision as of 17:05, 6 October 2009
Discussion Forum Index --> Advanced Tax Questions --> Voluntary Disclosure for Mexican Fideicomiso?
Discussion Forum Index --> Tax Questions --> Voluntary Disclosure for Mexican Fideicomiso?
| 6 October 2009 | |
| Hello Almanacers,
I looking into this for a client and I would like to know if I am on the right track. The TP has a vacation home in Mexico, no income to report. TP has never filed any forms for it. * Form 3520 has to be filed when TP opens a trust, modify it, or terminate it. * Form 3520-A is an annual form, TP should have filed it every year. This form has to be filed by the person or entity that formed the trust, so it should probably have to be filed by the Mexican bank holding the trusts, but I read that they rarely do it, so the beneficiary (TP) is the one that have to file it. Also I would like to know if the TP needs to do the voluntary disclosure too. Any help/guidance is greatly appreciated. | |
