October 29, 2026

Live Webcast

2 CPE Credits

Don Farmer's Foreign Trusts & Accounting Method Changes for Forms

October 29, 2026
Live Webcast
2 CPE Credits

Don Farmer's Foreign Trusts & Accounting Method Changes for Forms

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    Instructor

    Jason
    Dinesen

    View Bio

    Jason Dinesen, EA

    Bio

    Jason Dinesen, EA is a tax practitioner and long-time presenter of continuing education courses. Jason's experience includes extensive tax preparation background in individual income taxes, and tax situations for small businesses in Dinesen Tax & Accounting, P.C., and now Dinesen Tax Advisory, LLC. Jason is an Iowa native and was president of the Iowa Society of Enrolled Agents from 2011–2017. He currently teaches on dozens of tax topics and also teaches Special Enrollment Exam (aka "the Enrolled Agent exam") review, as well as review courses for AFTR and California CTEC. He has also been an adjunct instructor at Simpson College in Indianola, Iowa, where, through 2022, he taught individual income tax and intro to business analytics.

This intermediate-level course provides a focused review of federal reporting requirements related to foreign trusts and accounting method changes. Participants will examine filing obligations associated with Forms 3520 and 3520-A, including ownership, distribution, and reporting triggers. The course also addresses accounting method change procedures, including Form 3115 filing requirements, automatic versus nonautomatic changes, and §481(a) adjustments. Emphasis is placed on reporting mechanics, penalty exposure, procedural compliance, and common filing errors. Practical examples illustrate documentation considerations and IRS scrutiny areas.

Learning Objectives

Upon completion of this course, participants will be able to: 1. Identify reporting requirements and filing triggers for Forms 3520 and 3520-A 2. Distinguish ownership and distribution reporting obligations related to foreign trusts 3. Differentiate automatic and nonautomatic accounting method changes 4. Analyze Form 3115 filing requirements and §481(a) adjustment calculations 5. Recognize compliance risks and penalty exposure associated with foreign trust reporting and accounting method changes

Major Topics

• Overview of foreign trust reporting framework
• Form 3520 reporting requirements o Transfers to foreign trusts o Ownership and distribution reporting
• Form 3520-A filing obligations and related disclosures
• Penalty provisions and documentation considerations
• Overview of accounting method change procedures
• Form 3115 filing mechanics o Automatic versus nonautomatic method changes o §481(a) adjustment principles
• Common compliance errors and IRS examination focus areas

CPE Credits Available

2 CPE Credits
2
Taxes

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Tax; Taxation

Prerequisites

None

Advanced Preparation

None

Provider

Don Farmer Tax Education

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