Tax Reporting Requirements of United States "Persons."

Form 1040, Schedule B, Part III -Check the box for the foreign accounts and trusts.
Information regarding creation and transfer of property to foreign accounts and trusts. See filing requirement, Form TD-F-90-22.1

Form TD-F-90-22.1 -Foreign bank and financial account.
Form must he filed on June 30th of each calendar year following close of the preceding year during which the foreign account existed.
Form is required from U.S. "Persons" with a financial interest in or signature authority over a bank account, securities account or other financial accounts in a foreign country exceeding an aggregate of $10,000.
Form is required from U.S. "Persons" with signature authority include control of the disposition of funds in the foreign account by oral or written instructions to the signatory or title holder on the account.

Form 3520 -Foreign Trusts or creation of a Foreign Trust.
Form must be filed on the 15th day of the 4th month following the transferor's or grantor's tax year.
Form is required from U.S. "Persons" -a gift of more than $100,000 from a foreign individual or estate and gifts of more than $10,000 from a foreign corporation or partnership.
Form is required from U.S. "Persons" to be filed if there is a reportable event, such as the creation of a foreign trust by a U.S. person, any transfer to a foreign trust during lifetime or after death, the death of the U.S. citizen or resident deemed the grantor of the foreign trust.

Form 1065 -Foreign Partnerships.
Form is required from U.S. "Persons" for foreign partnership, controlled foreign partnerships, subject to the same information reporting requirements as controlled foreign corporations, Form 5471.

Form 5471 -Foreign Corporations.
Form is required from U.S. "Persons" or entities holding a 10% or greater interest in a foreign corporation.

Form 8621 -Passive Foreign Investment Company (PFIC)
Form is required from U.S. "Persons" or any shareholder in a passive foreign investment company.

Form 926 -Any Foreign Entity
Form is required from U.S. "Persons" -is used to report transfer to a foreign corporation, foreign estate, foreign trust, or foreign partnership.

 

Money Transfer Reporting Requirements for United States "Persons."

Form 4789 -Due 15th calendar day following the day of the transaction.
Currency transaction report with respect to deposits, withdrawals, exchange of currencies or other payments or transfers of more than $10,000.
Applies only to cash transactions that, if alone, or when aggregated, exceed $10,000.

Form 4790 -Due within 30 days following receipt of cash or monetary instruments.
Report of international transportation of currency or monetary instruments for recipients.

Form 4790 -Due within 30 days following receipt of cash or monetary instruments if the currency does not accompany the person entering or departing the U.S, the form may he filed by mail on or before the date of entry; departure, mailing, or shipping.
Report of international transportation of currency or monetary instruments for shippers and mailers.

Form 4790 -Must be filed at the time of entry or departure form the U.S.
Report of international transportation of currency or monetary instruments for travelers.

Estate Street Partners, LLC
167 Milk Street #462
Boston, MA 02109-4315
(508)429-0011 phone
(508)429-3034 fax
RBeatrice@TaxDeferrals.com email
Additional office (by appointment only):
Estate Street Partners, LLC
1555 E. Flamingo Road, Suite 155
Las Vegas, NV 89119
(702)615-7616 phone
(702)796-6694 fax

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