International Tax Lunch: Classification of Foreign PensionsÆ’?"Foreign Trust Issues and Tax Deferral

Description

Many U.S. citizens and immigrants have foreign pensions. U.S. tax law does not accommodate them well. Often these pensions are not tax deferred. Learn to recognize when foreign pension fail to provide tax deferral and the U.S. tax and reporting consequences.

Highlights

• Nonqualified plans under 402(b)
• Foreign grantor trusts
• Nonqualified annuity
• Information reporting
• Lookthrough issues
• Treaty benefits

Objectives

• Determine if a foreign pension is a 402(b) plan, a foreign grantor trust, an annuity, or another type of arrangement.
• Identify information filing requirements.
• Calculate income taxable to the employee.
• Identify pension assets on which the employee must report income directly.

Designed For

CPAs and attorneys.