Webinar - European Funds with US Connections - Update on the US Tax Environment
The aim of the session was to provide insight into the additional reporting and compliance requirements that come with accepting US investors or investing in US assets and to de-mystify some of the jargon surrounding it. The intention was also to provide insight into the latest Biden tax changes and their impact on funds.
Who was it aimed at:
People in finance or tax roles with European LP funds that have, or are targeting, US investors or that are investing in US assets.
Fund administrators, lawyers or local tax advisers whose fund clients have US connections
Topics that were covered:
How do I structure my fund to accept US investors?
What is a PFIC, and who needs to know?
Who needs a K-1, and how do I provide one?
Does the fund ever have to file in the US if there are no US investments?
Will my fund be generating UBTI, and why does this matter?
Changes to the rules for reporting partner capital accounts
How do my European investors get returns paid on time from US exits?
What is the role of a Partnership Representative, and do I need one?
How is the fund or the investors affected by Biden tax changes to carried interest and capital gains rates?