EFTA02674235.pdf

From: Richard Kahn Sent: Wednesday, June 10, 2015 5:28 PM To: Jeffrey E. Subject: Fwd: FBAR/FATCA would you like to speak with alan? if so =lease advise on timing? thank you has Joslin given you =ood figures for Leon June 15th estimates? Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New 2 tel fax cell Begin forwarded message: From: =/b>"Dlugash, Alan" < To: =/b>jeffrey E. <[email protected]> Cc: Richard Kahn Subject: =/b>RE: =BAR/FATCA Date: =/b>June 9, 2015 at 6:39:28 PM =DT I'm reasonably familiar with =BAR and FATCA issues, but I also do have access to experts. Trustees of trusts organized under US =aw are required to file FBAR reports. More than 50% beneficiaries of US =rusts are obligated to file FBAR's, but this requirement is waived if a US trustee of the trust files on behalf of =he trust. EFTA_R1_01954585 EFTA02674235  FATCA reporting is basically only for =ndividuals. Individuals who are beneficiaries of trusts do not have to =nclude in their FATCA filing foreign financial assets that are in the trust solely because they are beneficiaries of =he trust. ALAN DLUGASH CPA Marks Paneth LLP 685 Third Avenue, New York, NY, 10017 P. E. From: jeffrey E. [mailto:[email protected] Sent: Tuesday, June 09, 2015 6:40 AM To: Dlugash, Alan; Richard Kahn Subject: I need an expert on FBAR filing =or leon. do the trustees of the trusts have an =bligation. benficitaries. ? 8938 ? as well please =ote The information contained in this =ommunication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 2 EFTA_R1_01954586 EFTA02674236 Any tax advice in this e-mail should be considered in the context of =he tax services we are providing to you. Preliminary tax advice should =ot be relied upon and may be insufficient for penalty protection. CONFIDENTIALITY NOTE: This transmission may contain confidential and/or privileged information. This information is intended for use by the individual =r entity named above. If you are not the intended recipient, be aware that any disclosures, copying, distribution or use of the contents of this information is prohibited. If you have received this =ransmission in error, please notify this office immediately. 3 EFTA_R1_01954587 EFTA02674237