08 April 2016 French trust reporting requirement deadline is June 15 Under the French trust reporting rules (often referred to as the "French-mini FATCA (Foreign Account Tax Compliance Act)" rules), trustees are subject to reporting requirements in France when either the trustee, the settlor or one of the beneficiaries of the trust, is a French tax resident or if any of the assets and/ or rights placed in the trust are located in France. Failure to meet the formal requirements will be viewed by French tax authorities as a breach of reporting requirements and trigger corresponding penalties (increased to €20,000 or if higher 12.5% of the market value of all the assets and rights in trust). Document ID: 2016-0642 |
