US-situs assets for US Estate Taxes for foreigners

[jorivers73]

Hi, I have read several documents from the IRS about what is deemed a US-situs asset for US Estate Tax purposes for non-citizen and non-residents of the US. However there are 3 classes of assets that are not referenced anywhere and I would greatly appreciate if you could share your views on whether these would be considered US-situs or not for US Estate Tax purposes:
- US dollar cash in a foreign (outside of the US) brokerage account
- US corporate bonds and US CDs in a foreign (outside of the US) brokerage account
- a foreign US dollar money market fund (domiciled outside the US) and trading on a non-US stock exchange
Thank you !
Jo

[nelsona]

1. US cash, even if held in US is NOT US situs, unless it is connected to a business.
2. the bonds would be, the CDs would not.
3. NOT US situs

[jorivers73]

Thank you for the information.
For item (2), would US Corporate Bonds held in a foreign brokerage account, and which are tax exempt in the interest generated to a non-US person be considered US-situs ? The information from the IRS mentions that Corporate Bonds which are tax exempt to non-US persons are not US-situs, but doesnt go on to explain if this is also the case if held in a foreign brokerage firm.
Jo

[nelsona]

If they are considred not US situs when held within US, then they are not US situs when held outside US.

[jorivers73]

yes that makes perfect sense.
Thank you again.
Jo