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foreign grantor trust

German translation: Offshore-Trust (Treuhandkonto)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:foreign grantor trust
German translation:Offshore-Trust (Treuhandkonto)
Entered by: Vesna Zivcic
Options:
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07:39 Apr 23, 2001
English to German translations [PRO]
Bus/Financial
English term or phrase: foreign grantor trust
context> US tax form
Zeus
Local time: 12:18
Offsore-Trust (Treuhandkonto)
Explanation:
1. Foreign Grantor Trusts (FGT) are trusts established by a Settlor in a foreign jurisdiction. For purposes of
U.S. taxation, the Settlor cannot be an U.S. citizen, resident or taxpayer. The FGT is created and administered
under the laws of the foreign jurisdiction and the Trustees are not located in the U.S. or its possessions.
For purposes of U.S. taxation, the assets and profits of the FGT are treated as if owned by and taxed to the
Foreign Settlor, and as such should not be subject to U.S. taxation, unless the assets are situated in the United States. In the case where the assets are situated in the U.S., there may be tax consequences.

2. Info ... PILL BIETET IHNEN.....einen eigenen Offshore Trust (Treuhandkonto).
..eine steuerfreies Einkommen. ...
Selected response from:

Vesna Zivcic
Local time: 13:18
Grading comment
Thank you. Very useful background info as well!
4 KudoZ points were awarded for this answer

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Summary of answers provided
naOffsore-Trust (Treuhandkonto)
Vesna Zivcic


  

Answers


1 hr
Offsore-Trust (Treuhandkonto)


Explanation:
1. Foreign Grantor Trusts (FGT) are trusts established by a Settlor in a foreign jurisdiction. For purposes of
U.S. taxation, the Settlor cannot be an U.S. citizen, resident or taxpayer. The FGT is created and administered
under the laws of the foreign jurisdiction and the Trustees are not located in the U.S. or its possessions.
For purposes of U.S. taxation, the assets and profits of the FGT are treated as if owned by and taxed to the
Foreign Settlor, and as such should not be subject to U.S. taxation, unless the assets are situated in the United States. In the case where the assets are situated in the U.S., there may be tax consequences.

2. Info ... PILL BIETET IHNEN.....einen eigenen Offshore Trust (Treuhandkonto).
..eine steuerfreies Einkommen. ...



    Reference: http://www.uvc-k.de/Info/info.html
Vesna Zivcic
Local time: 13:18
Native speaker of: Croatian
PRO pts in pair: 395
Grading comment
Thank you. Very useful background info as well!
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