Investing in the US

Today TaxMama hears from Fredrik in Mexico, with this question. “I’m a German citizen living in Mexico with no intention to move to or to live in the US. But I would like to invest in the US. Do I need a ITIN number?”

Dear Fredrik,

That’s a lovely place to live, isn’t it?

Yes, you will need an ITIN.

I don’t think any bank or brokerage will open an account for you without one.

Use Form W-7 to get the ITIN http://www.irs.gov/pub/irs-pdf/fw7.pdf

You will need to provide a variety of documents to verify your identity. If you don’t want to have to send originals to IRS, you can use an Acceptance Agent in Mexico. There is one in Mexico city.
http://www.irs.gov/individuals/article/0,,id=121517,00.html

With a Certified Acceptance Agent (CAA), you can just show them the documents and have the CAA verify them and/or make copies of them. No need to let the documents leave your possession.

And remember, you can find answers to all kinds of questions about ITINs and other tax issues, free. Where? Where else? At TaxMama.com

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• IRS Form W-7 :: Application for an ITIN
• IRS Acceptance Agents :: Acceptance Agents in Mexico

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