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Podcast: Offshore Tax with HTJ.tax
Episode: Custodial Institution Settles a Cook Islands Trust
Description: Can a custodial institution legally settle a Cook Islands trust—and what does that mean for FATCA and CRS reporting? In this episode, we walk through the reporting hierarchy step by step, explain where reporting stops, where it continues, and why confusion often arises when institutional settlors are involved.🔎 Key Definitions & the Reporting Hierarchy• Reportable Person Under FATCA (U.S.) and CRS (non-U.S.), a Reportable Person is typically: – An individual, or – A Passive NFE with individual Controlling Persons ➡️ Financial Institutions are generally not Reportable Persons• Financial I...