The French Government has finally issued a decree detailing the reporting obligations on trustees resulting from the French supplementary budget of 29 July 2011 (LFR 2011).
The obligations are imposed on trustees of trusts that have French resident beneficiaries or settlors, or assets situated in France. Decree number 2012-1050 of 14 September 2012 clarifies, to an extent, the duty to report imposed on trustees.
Patrick Delas of our French Law Team looks at the decree and how it may affect trustees, executors and personal representatives.
French Trust Reporting Obligations - Nov 2012.pdf