George Hani, Andy Howlett, and Ian Herbert will present "Taxation and Representation (of Ownership): Impact of U.S. Taxation and Beneficial Ownership Reporting Requirements on Foreign Trusts," at the South Dakota Trust Association 6th Annual Fall Forum on October 6, 2022, in Sioux Falls, South Dakota.

This presentation will address two U.S. regulatory issues critical for foreign trusts. The speakers will describe the principles of U.S. income, gift, and estate tax as they apply to foreign trusts (including ones domiciled in South Dakota), focusing on recent developments in U.S. tax law, planning ideas, and traps for the unwary. This panel will also focus on the impact of the Corporate Transparency Act and related regulations on foreign trusts. Panelists will discuss the latest regulatory developments and explain what information will need to be reported, by whom, and the consequences for failing properly comply.