Search found 2 matches

by Rainb
Mon Jun 30, 2014 11:47 am
Forum: Canada / United States Tax & Accounting
Topic: fbar for beneficial interest in trust
Replies: 2
Views: 1837

I don't have signing authority over the accounts, just a financial interest. In most of them it is 50% exactly (which I think is non-reportable), but for one it may be more.
by Rainb
Mon Jun 30, 2014 5:39 am
Forum: Canada / United States Tax & Accounting
Topic: fbar for beneficial interest in trust
Replies: 2
Views: 1837

fbar for beneficial interest in trust

Hi, My understanding of the fbar rules is that you only have to report a trust if you qualify as having a financial interst in it, which is defined as a present beneficial interest of more than 50%, or being entitled to more then 50% of the trusts proceeds that year. So, even if I am otherwise filin...