Hi everyone, it's Aaron Day here from Sao Paulo, Brazil with another episode of Offshore Maven. I want to talk a little bit about the book that we're launching. First of all, the name of the book is quite a mouthful, but it's descriptive nonetheless. The title is "USD Exempt Entity: The Key to Tax Deferred Investing and Asset Protection." It is brought to you by FATCA. Personally, I would have preferred to call it "Brought to You by FATCA," but that name wasn't descriptive enough. I want to share an excerpt from the book, which was written by James Rice from the Rice Law Group in New York City. James Rice is an expert in retirement planning and estate planning, and he is our go-to person for complex US issues. He has written about FATCA and the law of unintended consequences. The book explains how US persons with foreign accounts and non-US persons can structure themselves to benefit from both the intentional and unintentional consequences of FATCA. Lon Fairbrook, the author, has done an excellent job putting together the legal roadmap to comply and benefit from the enforcement issues created by the United States in passing FATCA. The book explains how to establish a valid FATCA-exempt IRS-recognized and registered foreign retirement plan (RRFP). By taking this route, you can eliminate restraints, restrictions, limitations, and blockages overseas. Under the RRFP, certain IRS forms are exempt. For example, Form 3520, which is the annual return to report transactions with foreign trusts and receive certain foreign gifts, is exempt. Additionally, Form 8621, the Foreign Passive Foreign Investment Company (PFIC), is also exempt. We have mentioned this in previous videos. The FATCA-registered and recognized foreign retirement fund (FATCA standing) is an exempt retirement plan. This means that any transfers of USD for or by the retirement...
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Video instructions and help with filling out and completing Form 3520 Individuals
