Domestic Trust With Foreign Beneficiaries
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FAQ
Foreign non-grantor trust (with US or non-US grantor) The trust is generally subject to US tax on income from US sources, unless the income is distributed in the year it arises to a beneficiary of the trust. Distributions to US beneficiaries from a foreign non-grantor trust are subject to a complex set of rules.
Trusts can have multiple beneficiaries, including the trustee. Naming a non-US citizen as a beneficiary of a Trust could have consequences for inheritance or income-tax. For one, selecting a foreign citizen as a beneficiary can expose the Trust to increased tax liability.
Foreign nongrantor trusts All trusts that are not grantor trusts are considered nongrantor trusts for US purposes. Foreign nongrantor trusts are not generally subject to US tax, unless the trust earns US source or effectively connected income.
Send Form 592-A with a check or money order when you submit the amount of foreign nonresident or backup withholding on California source payments to us.
From a foreign beneficiary. Form W-8BEN must include an Individual Taxpayer Identification Number (ITIN). W-8BEN, withholding is required at the 30% tax rate regardless of any reduced withholding rate or modified withholding rules provided by an applicable tax treaty. treaties.