New Guidelines for Good Faith Determinations of Foreign Grantees

The IRS recently issued Revenue Procedure 2017-53 providing guidelines that international grantmakers and qualified tax practitioners may use for preparing preferred written advice on which a domestic private foundation ordinarily may rely in making a good faith determination (also known as “equivalency determination”) that a foreign grantee is a qualified public charity. 

Until further guidance is issued, sponsoring organizations of donor advised funds may also follow this guidance.