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FBAR: application to equity awards issued under a plan of a foreign multinational company
  • Seyfarth Shaw LLP
  • USA
  • August 17 2009

Seyfarth Shaw recently published a client alert discussing the effect of Treasury Department Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR) on pension funds

Estate planning and the enactment of the New York Marriage Equality Act: what you need to know
  • Lowenstein Sandler LLP
  • USA
  • July 20 2011

With the enactment of the Marriage Equality Act, New York is now the sixth state to permit marriage for same-sex couples

Final FBAR reporting rules provide relief, but no exemption, for pension plans investing in foreign accounts
  • Pillsbury Winthrop Shaw Pittman LLP
  • USA
  • February 28 2011

On February 24, 2011, the Financial Crimes Enforcement Network of the Department of Treasury (FinCEN) issued final rules on FBAR filing requirements applicable to U.S. persons, including U.S. pension plans that invest in foreign financial accounts or who have signature authority over such accounts

Issues for private foundations and other donors in the wake of the IRS’ automatic revocation of exemption list
  • Quarles & Brady LLP
  • USA
  • June 21 2011

The Pension Protection Act of 2006 directed the Internal Revenue Service to revoke automatically the tax-exempt status of any organization that fails to file its annual information return (Form 990-N, Form 990-EZ, Form 990, or Form 990-PF) with the IRS for three consecutive years

The Foreign Account Tax Compliance Act (FATCA) potential implications for UK pension schemes
  • Hogan Lovells
  • United Kingdom, USA
  • July 31 2012

The Foreign Account Tax Compliance Act of 2009 ("FATCA") was enacted by the US to prevent offshore tax evasion by "US persons"

Estate planning with retirement assets
  • Arnstein & Lehr LLP
  • USA
  • August 26 2010

For many individuals, retirement benefits represent a significant portion of their wealth

New foreign financial asset reporting requirement with deadline of April 17, 2012
  • McDermott Will & Emery
  • USA
  • March 27 2012

The Foreign Account Tax Compliance Act (FATCA) requires certain U.S. taxpayers holding foreign financial assets, including an interest under a foreign pension or deferred compensation plan and foreign equity awards, to report those interests beginning with this tax filing season

Internal Revenue Service ignores trust amendment designed to create designated beneficiary
  • Sullivan & Worcester LLP
  • USA
  • August 1 2010

Private Letter Ruling 201021038 (May 28, 2010) shows the importance of careful drafting for a trust designated as the beneficiary of a retirement plan

Madoff and private foundations: should the IRS follow the actions by the U.S. Department of Labor in pursuing fiduciaries?
  • Fox Rothschild LLP
  • USA
  • October 22 2010

On October 21, 2010 Andrew M. Harris reported on Bloomberg.com that the U.S. Department of Labor has sued four investment firms for allegedly failing to examine Madoff’s business practices before entrusting him with hundreds of millions of dollars in pension funds

FBAR filing for certain foreign investments
  • Reinhart Boerner Van Deuren SC
  • USA
  • May 20 2011

U.S. persons who have a financial interest in, or signature or other authority over, foreign financial accounts are generally required to report on the Treasury Department Form TD F 90 22.1 (the FBAR) by June 30 of each year