Our trust deed names no US beneficiaries — does that protect me from the grantor trust rules when I move to the US?
My parents and I set up a foreign trust years ago. The deed lists only family members in our home country, and nobody in the family lives in the US today. I'm planning a move to the States for my startup, and someone in a founder forum claimed the IRS would still treat the trust as having a US beneficiary even though no US person is named anywhere in the document. The trustee insists we're fine. Who is right?
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