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After DOMA: impacts on tax and benefits planning
  • Venable LLP
  • USA
  • June 27 2013

The Supreme Court’s rulings yesterday in United States v. Windsor and Hollingsworth v. Perry will have far-reaching legal implications for same-sex

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"

FBAR: further relief for employee benefit plans and certain foreign commingled funds
  • Seyfarth Shaw LLP
  • USA
  • April 1 2010

Generally, U.S. persons with an interest in, or signatory authority over, a foreign financial account are required to file the Treasury Department Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR

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

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

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

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

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

July 1, 2009: a key date for Section 457A transition relief
  • Seyfarth Shaw LLP
  • USA
  • June 17 2009

Companies with significant non-U.S. income, and partnerships that include foreign or tax-exempt partners, will need to assess whether new Internal Revenue Code Section 457A applies to their deferred compensation plans

Treasury, IRS issue proposed regulations and guidance addressing FBAR reporting requirements for retirement plans
  • Katten Muchin Rosenman LLP
  • USA
  • March 5 2010

At the end of February, the Financial Crimes Enforcement Network (FinCEN) bureau of the U.S. Department of the Treasury issued proposed amendments to the Bank Secrecy Act regulations governing Reports of Foreign Bank and Financial Accounts, commonly referred to as “FBAR.”