Foreign Trusts For US Family Members: Use of Section 645 Election
Foreign Trusts For US Family Members: Use of Section 645 Election
Foreign Trusts For US Family Members: Use of Section 645 Election
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<strong>Section</strong> <strong>645</strong> Basis-Step Up:<br />
Illustration – During Life <strong>of</strong> Settlor<br />
United States<br />
Beneficiary<br />
Nonresident<br />
Alien/Grantor<br />
FT<br />
(<strong><strong>For</strong>eign</strong><br />
Grantor Trust)<br />
<strong><strong>For</strong>eign</strong><br />
Passive Assets<br />
(Asset 1)<br />
<strong><strong>For</strong>eign</strong> Corp<br />
w/<strong><strong>For</strong>eign</strong><br />
Business<br />
(Asset 2)<br />
PFIC –<br />
Passive Assets<br />
CFC –<br />
Passive Assets<br />
(Asset 3)<br />
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