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REG-124850-08: Transactions With Foreign Trusts and Information Reporting on Transactions With Foreign Trusts and Large Foreign Gifts

Date: 2024-05-08
Links to Federal Register: HTML, PDF
Document Number: 2024-09434, RIN: 1545-BI04
Action: Notice of proposed rulemaking and notice of public hearing.

Abstract: This document contains proposed regulations that provide guidance regarding information reporting of transactions with foreign trusts and receipt of large foreign gifts and regarding loans from, and uses of property of, foreign trusts. This document also contains proposed amendments to the regulations relating to foreign trusts having one or more United States beneficiaries. The proposed regulations affect United States persons who engage in transactions with, or are treated as the owners of, foreign trusts, and United States persons who receive large gifts or bequests from foreign persons. This document also provides notice of a public hearing on the proposed regulations.

Word frequency
Notable phrases   Frequency
form 3520      214
section 643(i) distribution      125
u.s. grantor or beneficiary      113
use of trust property      80
cash or marketable securities      61
foreign gifts      57
nonresident alien      55
loan of cash or marketable securities      51
foreign nongrantor trust      47
gross reportable amount      40
foreign grantor trust      36
dual resident taxpayer      35
distribution from a foreign trust      30
reasonable cause      26
foreign nongrantor trust beneficiary statement      16
foreign grantor trust beneficiary statement      16
married u.s. persons      16
treated as having a u.s. beneficiary      16
fair market value exception      13
foreign grantor trust owner statement      11
loan or use of trust property      11
qualified stated interest      11
knows or has reason to know      10
treated as an exchange      9
paid or accumulated for the benefit      8
use of property of a foreign trust      7

Reg. Cites   Frequency
1.6048-4      45
1.6048-2      30
1.6048-4(a)      20
1.643(i)-2(b)(2)(iii)      17
1.679-1      15
1.643(i)-1(d)(9)      14
1.1001-3      14
1.679-1(c)(5)      12
1.6048-5      12
1.6048-3      11
1.6039F-1(a)      11
301.7701(b)-7(a)(1)      10
1.643(i)-3(c)      10
1.643(i)-2      10
1.6048-4(b)      10
1.643(i)-1      10
1.6048-3(a)      9
1.6012-1(b)(2)(ii)      8
1.679-1(a)      8

Sec. Cites   Frequency
643(i)      174
6048      35
679      35
6048(c)      18
6677      18
6048(a)      15
6081      14
6039F      13
501(c)(3)      13
6048(b)      9
501(a)      9
6013      8
7701(a)(30)      8
2801(e)      8
2801      6
6048(d)(2)      5
501(c)      5
679(c)(6)      5
2512      5

Authorities Referenced:


Statistics

Number of pages: 46, words: 55,463, sentences: 2,050
Average words per sentence: 27