Sponsored By
Trusts & Estates logo

What's a Fideicomiso?What's a Fideicomiso?

Any professional who serves high-net-worth clients eventually comes face to face with a Mexican fideicomiso (pronounced fee-day-kah-mee-so) and has to decide how to advise the client on how the fideicomiso should be taxed and reported under U.S. tax law.

Amy P. Jetel, Partner

April 1, 2009

35 Min Read
Wealth Management logo in a gray background | Wealth Management

Amy P. Jetel

Any professional who serves high-net-worth clients eventually comes face to face with a Mexican fideicomiso (pronounced fee-day-kah-mee-so) and has to decide how to advise the client on how the fideicomiso should be taxed and reported under U.S. tax law.

The Internal Revenue Service's representatives with whom my firm has spoken acknowledge that fideicomisos are not the types of tax-avoidance structures that are targeted by the onerous U.S. reporting requirements for foreign trusts. Nonetheless, because IRS agents also admit that the Service has no idea what a fideicomiso really is (and doesn't have the resources to figure it out), they recommend that foreign-trust reporting be done, just to be safe. After all, fideicomiso mea...

Unlock All Access Premium Subscription

Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!

Already Subscribed?

About the Author

Amy P. Jetel

Partner, Beckett Tackett Jetel

http://www.btjlaw.com/

Amy P. Jetel focuses her practice on the design, implementation, and administration of outbound and inbound foreign trust and entity structures to meet the estate-planning and asset-protection goals of multi-jurisdictional clients.  In this practice, she has gained a depth of experience in the U.S. tax and compliance aspects of non-U.S. trusts and entities, and she frequently addresses complex international tax and treaty issues faced by individuals with ties to multiple jurisdictions.  Ms. Jetel has developed a niche practice in planning around the throwback-tax regime that applies to foreign non-grantor trusts, and in representing clients before the Internal Revenue Service to bring previously unreported foreign structures into full compliance.  Ms. Jetel also practices in the areas of traditional estate and disability planning, probate and estate administration, and entity formation and governance.  She is a frequent author and speaker in the areas of estate planning, asset protection, and international taxation and compliance.  Ms. Jetelis a veteran of the U.S. Navy.