FATCA Rules for Foreign Retirement Account Reporting
EVENT DATE:
Nov 17,2022
PRESENTER(s): Monica Haven
1:00 PM ET | 12:00 PM CT | 10:00 AM PT |
120 Minutes
Beyond the basics of FBARs and Form 8938, taxpayers who live and work abroad may have additional reporting obligations. This class will unveil the complexity of the mandated reporting regime for clients invested in foreign “trusts” and passive foreign investment companies (PFICs) such as foreign money market accounts [yikes!], mutual funds, hedge funds, insurance products and [oh my!] pension and retirement accounts that do not enjoy the same tax benefits of their American counterparts.
Session Highlights:
- Identify a taxpayer’s foreign investment as a PFIC.
- Understand the complex reporting requirements required for foreign pension and retirement accounts.
- Recognize which foreign investment may be deemed to be a trust subject to FATCA reporting.
- Properly complete Forms 8621 and 3520.
- Help clients remain compliant.
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- CPA's
- Tax Attorneys
- Accountants
- Tax Compliance Managers
- Other Tax Professionals
Speaker Profile:
Monica Haven, E.A., J.D. has a Masters in Taxation (LL.M.) and is a graduate fellow and former faculty member of the National Tax Practice Institute®. In practice for more than 30 years as an Enrolled Agent, an Accredited Tax Advisor® and an Accredited Tax Preparer®, Monica is a sought-after guest lecturer on college campuses and at community organizations. Monica has been a long-term and active member of numerous professional organizations, including the National Association of Enrolled Agents, the National Society of Accountants, the National Association of Tax Practitioners, the National Society of Tax Practitioners, the California Society of Enrolled Agents, the California Society of CPAs, and the California Society of Accounting and Tax Professionals, as well as the Los Angeles County Bar Association, the Young Tax Lawyers Committee, and the Tax Law Society. Monica welcomes every opportunity to share her experience and expertise in the classroom even as she maintains her Southern California tax practice which serves national and international clients. Her students have said, she’s a “fantastic speaker” who can take “hard subjects and put them into concepts or analogies that are easy to understand.” For additional information, published articles and extensive, useful tax information.
