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Yes, there are additional IRS reporting requirements for assets in an offshore trust. ?These additional requirements mandate that the amount of assets in the trust is disclosed, information about the trustee is disclosed, the country where the trustee is domiciled is listed, and a reporting of the income earned on these assets. ?These additional reporting requirements have increased since the passage of the Patriot Act, and other laws designed to reduce money laundering and other financial crimes.

Excerpt from The Complete Guide to Estate and Financial Planning in Turbulent Times (Collaborative Press, 2011) - Walt Dallas, Contributing Author

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Source: http://blog.estateplanning123.com/2012/10/asset-protection-planning-are-there-any-special-tax-reporting-requirements-for-assets-held-in-an-off.html

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