Replies to post #91783 on Eagle Worldwide Inc.(fka ELWD)

[LT Investor]

It more or less instructs you to lie to the IRS

Since no beneficiary in a Panamanian Private Interest Foundation owns the assets, it is not a lie. The assets in the Foundation are legally owned by the Foundation. Once you remove assets, THEN you would have to report it to the IRS.

[causeimdaddydamnit]

No it doesn't. Your statement clearly shows that you either have no concept of how the foundation works, or choose to disregard the truth. I'll assume that you are misguided... You don't own those assets, the Foundation does until they turn them over to you at withdrawal. So you are not instructed to lie about anything.