Escolar Documentos
Profissional Documentos
Cultura Documentos
GARY S. WOLFE
A PROFESSIONAL LAW CORPORATION
Since a U.S. grantor has neither the legal authority or the ability
to force Foreign Trustees to file the Form 3520-A, the 2010 HIRE Act
makes the grantor responsible to submit information to the IRS with
respect to the Trust.
Form 3520 is sent to the IRS, P.O. Box 409101, Ogden, Utah
84409.
U.S. Tax Compliance/Foreign Grantor Trusts (Foreign Gifts)
Page 3
Penalties:
If the Foreign Trust does not appoint a limited U.S. agent, for
purposes of examination of books and witnesses, service of
summons and enforcement of summons (IRC 7602 – 7604), the IRS
may include in the grantor’s income anything it wants to include (IRC
§6048(b)(2)(C)). The IRS can make whatever determination it wishes
based on its own knowledge or information obtained through
testimony or otherwise (IRC §6038A(e)(4) rules regarding judicial
proceedings to quash a summons will apply).
AUTHORIZATION OF AGENT
[Name of foreign trust] hereby expressly authorizes [name of U.S. agent] to act as its agent solely
for purposes of sections 7602, 7603, and 7604 of the Internal Revenue Code with respect to any
request to examine records or produce testimony related to the proper treatment of amounts
required to be taken into account under the rules of section 6048(b)(1)(A) or to any summons for
such records or testimony. I certify that I have the authority to execute this authorization of agent
to act on behalf of [name of foreign trust].
______________________________
______________________________
_______________________________
_______________________________
_______________________________
Address
[Name of agent] accepts this appointment to act as agent for [name of foreign trust] for the above
purpose. I certify that I have the authority to execute this authorization of agent to act on behalf of
[name of foreign trust] and agree to accept service of process for the above purposes
_______________________________
_______________________________
TIN (if any)
_______________________________
_______________________________
_______________________________
Address
U.S. Tax Compliance/Foreign Grantor Trusts (Foreign Gifts)
Page 9
6. Foreign Gifts
25 percent maximum.
The IRS must issue a notice of deficiency and follow deficiency
procedures in making any determination regarding the proper tax
treatment of the gift, but it may summarily assess the five percent
additional penalty.