Foreign trust definition

[ryoshimoto]

What can be considered a foreign trust?

[Anonymous_]

" What can be considered a foreign trust?"

A foreign trust is any trust other than a domestic trust, per Treas. Reg. §301.7701-7(a):

(1) A trust is a United States person  if -

(i) A court within the United States  is able to exercise primary supervision over the administration of the trust (court test); and

(ii) One or more United States persons  have the authority to control all substantial decisions of the trust (control test).