Is my foreign employer pension really a foreign trust that needs Form 3520? I just moved to the US
I relocated to the US this year for my startup. Back home I have an employer-sponsored retirement plan and a government-encouraged savings account, both built up over a decade of salary deferrals. My new US accountant called them foreign trusts and quoted a hefty annual fee for Form 3520 and 3520-A filings on each one. Friends in the same situation were told their plans are exempt. Who is right?
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