The United States reporting landscape for foreign accounts has dramatically changed since the Swiss bank account scandal of the late 2000s. Given heightened enforcement of reporting requirements, standards for FBAR penalties have been well-developed – both by case law and internal Service guidance. Holding foreign accounts has become more complex – based both on U.S. information reporting issues and logistical complications from foreign financial institutions seeking to meet complex U.S. institutional standards. Join Swiss wealth management advisor Thomas Fritz and international taxation expert Patrick McCormick for this informative 90-minute session.
Learn about heightened enforcement of reporting requirements
Discover the issues and logistical complications from foreign financial institutions seeking to meet complex U.S. institutional standards
Rimon PC
Partner
[email protected]
(215) 630-0861
Patrick McCormick is an attorney with over a dozen years of experience, focusing his practice specifically on international taxation. Mr. McCormick represents both business and individual clients on all aspects of United States international tax rules, both from an income tax and estate/gift tax perspective. Having previously served as a partner at a large law firm, a midsized accounting firm, and a boutique tax law firm, Patrick’s client exposures have covered every conceivable area of American-side international tax matters. Patrick has also represented every type of taxpayer – from multibillion-dollar business enterprises and ultra-high net worth individuals to startups and individuals with complex questions but limited budgets.
Mr. McCormick has worked with clients located in over 90 countries on American tax considerations of multinational activities, cultivating specialized knowledge in every area of United States international tax rules. His explicit practice focus has facilitated an unparalleled expertise in the field; Patrick is trusted by clients and advisors around the world to obtain optimal results on international tax matters.
Mr. McCormick is a primary and prolific authority on tax matters. He has spoken on all aspects of international tax to hundreds of thousands of attendees around the globe, functioning as the primary international tax resource for national organizations including CPAacademy.org, Strafford, Lawline, and Leimberg Information Services. Patrick has presented for the American Bar Association, the American Immigration Law Association, and state and local bar associations around the United States. He is a regular contributor to America’s premier tax law publications, including Tax Notes, Journal of Taxation, Tax Notes International, Law360, and Practical Tax Lawyer.
Mr. McCormick published his first treatise on international tax matters, Allocation and Apportionment Rules Under Secs. 861-865, for Thomson Reuters’ Catalyst platform, in October 2021. In late 2021, he also released a 15-hour digital course entirely dedicated to nonresident taxation, United States Tax Considerations for Nonresident Taxpayers. Mr. McCormick has been named a Super Lawyers Rising Star from 2016-2022.
Bellecapital International
Executive Director
[email protected]
Thomas Fritz has 11 years of experience in providing portfolio management solutions for U.S. individuals and families. Prior to joining Bellecapital International AG, Thomas was a Director and Wealth Management Advisor at UBS Swiss Financial Advisers, as well as Vontobel Swiss Wealth Advisors in Zurich where he advised clients on how to diversify their wealth internationally. He began his career at Credit Suisse in Zurich where he worked as an Associate in their U.S. Wealth Management Division. He holds a Master’s degree in Business Administration and is a Chartered Alternative Investment Analyst (“CAIA”). At Bellecapital, together with the team, Thomas is responsible for managing client portfolios.