From: Richard Kahn To: "jeffrey E." <[email protected]> Subject: Fwd: FBAR/FATCA Date: Wed, 10 Jun 2015 17:27:54 +0000 Inline-Images: image001.gif would you like to speak with alan? if so please advise on timing? thank you has Joslin given you good figures for Leon June 15th estimates? Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York NY 10022 tel fax cell Begin forwarded message: From: "Dlugash, Alan" .<I > To: Jeffrey E. [email protected]> Cc: Richard Kahn < Subject: RE: FBAR/FATCA Date: June 9, 2015 at 6:39:28 PM EDT reasonably familiar with FBAR and FATCA issues, but I also do have access to experts. Trustees of trusts organized under US law are required to file FBAR reports. More than 50% beneficiaries of US trusts are obligated to file FBAR's, but this requirement is waived if a US trustee of the trust files on behalf of the trust. FATCA reporting is basically only for individuals. Individuals who are beneficiaries of trusts do not have to include in their FATCA filing foreign financial assets that are in the trust solely because they are beneficiaries of the trust. ALAN DLUGASH CPA Marks Paneth LLP 685 Third Avenue, New York, NY, 10017 P. F. C. E. ;;;cid:356CE651-11.51-4732-8351- EFTA00854777