According to the IRS, U.S. Persons with property in a Fideicomiso have a Foreign Trust, and Foreign Trusts are required to File Form 3520 and Form 3520-A.  There is no tax calculated on theses forms.  The forms are only for disclosure purposes.  However, not properly filing Form 3520 has a penalty of up to 35% of the value of property transferred to or from the trust.  Not properly filing Form 3520-A has a penalty up to 5% of the value of your home!
Good News! If you have not filed the …

Mario Restrepo is a real estate agent who specializes in Baja Real Estate and offers property management services in the Baja, Mexico area. His site Baja Open House has articles on Mexico real estate, Baja property listings, and property management services.

The Mexican bank trust is an instrument commonly used for non-Mexican nationals, such as U.S. citizens and Canadians, to purchase coastal land in Mexico. This bank trust in Mexico is known as a fideicomiso. When talking about Mexican real estate in English, most people use the term bank …