The final section of Schedule B is where you must disclose any foreign bank or investment accounts you have and whether you receive distributions from certain foreign trusts. (turbotax.intuit.com)
The untouchable billionaires and politicians have their assets tucked away in foreign trusts and will make sure they are kept safe there. (hardassetsalliance.com)
If you are a U.S. taxpayer, not only will the IRS tax the account, but you will most likely have to complete and file foreign trust returns. (moneysense.ca)