Author Archives: Tasleem Meghani
What does it mean to be a beneficiary of a trust?
A trust is a legal arrangement where the creator of the trust (called either a grantor or settlor) transfers legal title to property to a trustee to manage for the benefit of individual(s) or entities (such as a charity). The person(s) or entities for whom the property is managed are called “beneficiaries”. The trust may […]
US Owners of foreign personal pension plans
US taxpayers often participate in foreign pension plans as these can be useful, tax preferred, investment tools in the jurisdiction where they are tax resident. Complexities arise with how these plans are reported to the IRS, especially considering the substantial US tax penalties associated with non-compliance. What is a Foreign Private Pension Plan? Pension plans […]