The U.S. Foreign Account Tax Compliance Act (“FATCA”) went into effect on July 1, 2014. Under FATCA, Belize trusts with income predominantly from securities are considered “foreign financial institutions” (“FFIs”) which are subject to a nonrefundable 30% withholding tax with respect to certain payments from U.S. sources. These Belize trusts can avoid the FATCA withholding tax only by becoming FATCA compliant.
We have created a new FATCA sponsor service to assist our Belize trust clients in becoming FATCA compliant in the most efficient and effective manner. Our FATCA sponsor service is a complete FATCA solution for Belize trusts with income predominantly from security investments—we perform all work necessary so that your Belize trust avoids the nonrefundable 30% FATCA withholding tax and is FATCA compliant. The FATCA service includes the filling out of the appropriate forms that are required.
Please see the our FATCA Memorandum for more details on this new service, and please let us know if you would be interested in further discussing this service and its cost.
Questions? Contact us
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