Trust protectors: reportable under CRS, but not under FATCA

Introduction

It has become fairly common practice for settlors to name a trust protector when settling a trust, particularly when a commercial trust company is named as trustee. The Organisation for Economic Cooperation and Development (OECD) Common Reporting Standard (CRS) Implementation Handbook describes a protector as enforcing and monitoring the trustee’s actions, “such as overseeing investment decisions or authorising a payment

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