ITIN FOR OPENING US BANK ACCOUNT/ONLINE STOCK TRADING ACCOUNT
Noncitizens usually would have an SSN if they’re legally resident in the U.S. and authorized to work.
Alternatively, If that Foreign person does not qualify for an SSN, He or she needs to apply for ITIN or US TAX ID in order to open a US Personal Bank Account Or Online Brokerage account.
THE MOST IMPORTANT FIRST STEP IS THE APPLICANT NEEDS TO CONTACT THE BANK AND REQUEST FOR THE LETTER BELOW IS A SAMPLE FORMAT OF THE LETTER.
To:
INTERNAL REVENUE
ITIN POLICY SECTION
AUSTIN, TX
U.S.A
To Whom It May Concern:
This is to certify that NAME OF THE ITIN APPLICANT AS PER THE PASSPORT has an account with this organization which will be generating income during the 2023 tax year. We are the withholding agent with an obligation to obtain an Individual Tax Identification Number (“TIN”) from the above-named applicant who is subject to IRS information reporting requirements and/or withholding of Federal income tax. The applicant being a foreign national requires an ITIN before completing a Form W-8BEN. So we hereby request the IRS to provide an ITIN for our reporting, withholding, and distribution procedures.
Sincerely,
On behalf of the Bank Name
XXXXXXXXXX
Official Signature of US-based bank
Name and Tile of the person signing the letter
Upon receipt of the above letter which is the first step and important step and if you need assistance with the ITIN application process our team can assist. Please note without the above letter WE CANNOT ASSIST as the IRS will reject the application So PLEASE DO NOT CONTACT US UNTIL you have this letter ready from USA Based banks.
NEXT ALTERNATIVE ITIN APPLICATION OPTION
If you have any USA Based business LLC or US Rental Income or any USA-based income then you apply for ITIN under the relevant eligible category, Please refer to this block for more information.
We are one of IRS approved Enrolled agents for the US tax return compliance reporting [1040/1040NR] and IRS Approved Certified Acceptance Agent for the ITIN US Tax ID work with many years of experience and we can certainly assist if you need any of the above services.
We also assist global clients based outside of the United Kingdom, Please check our work process blog post for more details on our step-by-step scope of work covered.
Please visit our website for FAQ related to ITIN and US Tax Assistance.
Our team specializes in international expatriate U.S. personal tax return services. If you need assistance with ITIN Renewal/US 1040 filing for refund claim/FATCA Compliance work/FBAR FINCEN114 Filing, ITIN/ Form W7 Application/E.I.N./Form W8BENE or Certified Acceptance Agents [C.A.A.] services/1040NR U.S. tax filing for refund claim of excess 1042S / 8288A/ 8805/ W2/ 1099. We are happy to assist our clients in a timely, efficient, and cost-effective way.
