CRS and FATCA expert

Trusts with Settlor Reserved Powers: The New CRS Avoidance Tool?

Peter Cotorceanu CRS, CRS Avoidance Tool, OECD

In a topic critical to the CRS classification of certain trusts, a divergence is emerging between the prevailing consensus view and the rule as expressed in recent local guidance. To wit, are discretionary trusts for which the settlor reserved control over the investments of the trust assets nonetheless “managed by” their trustees? If the answer is no, then in the …