Mandatory Reporting
Every Israeli resident who is a settlor, trustee, or beneficiary of a trust must report the trust's existence to the Israel Tax Authority. This reporting obligation applies to both domestic and foreign trusts. The initial report must be filed within 120 days of the trust's creation or within 120 days of the Israeli person becoming involved.
What Must Be Reported
- Identity of settlor, trustee, and beneficiaries
- Trust deed and amendments
- Trust assets and income
- Distributions made during the year
- Changes in trust participants or terms
- Annual financial statements of the trust
Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.