What is a U.S. Person?

The IRS tax code has specifically defined the term ”United States person” as meaning any of the following:

• A citizen or resident of the United States
• A domestic partnership
• A domestic corporation
• Any estate other than a foreign estate
• Any trust if:
  • A court within the United States is able to exercise primary supervision over the administration of the trust, and
  • One or more United States persons have the authority to control all substantial decisions of the trust
• Any other person that is not a foreign person.