ITIN for non-resident alien

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mikem
Posts: 48
Joined: Sun May 20, 2007 12:42 pm

ITIN for non-resident alien

Post by mikem »

I'm thinking about buying an investment property in the US with my brother-in-law & he will want to be listed on the title and be associated with any related US bank accounts (i.e. the holding account for rent paid, etc.).

How can he get an ITIN to allow us to open a joint account & alllow him to participate in this transaction? I see the ITIN form now requires the applicant to submit a tax return when they apply -- would he just file a tax return with 0 income or would he meet one of the exemptions (no idea who exemption he would fit under).

Thanks for any help or direction.
nelsona
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Post by nelsona »

He can get an exemption, but generally not to open an account. You will have to do that without him having an ITIN.
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nelsona
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Post by nelsona »

the exceptions generally state "a person who HAS opened an accoount".
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mikem
Posts: 48
Joined: Sun May 20, 2007 12:42 pm

Post by mikem »

Ahh ok, so find a cooperative bank (near the Canadian/US border likely), get an account, then file for an ITIN. Exemption is because he has an interest bearing US bank account and will need to report?
nelsona
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Post by nelsona »

Sure.

But once he has the account (if he can get it), what would he then need the ITIN for other than to file rental income tax, at which point he can ask for ITIN at the time he fist files his return.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
mikem
Posts: 48
Joined: Sun May 20, 2007 12:42 pm

Post by mikem »

True enough. As long as he can get the US bank account without an ITIN. Last time I tried that, I was living in the south & they wouldn't touch me with a 10 foot pole unless i had a SSN or ITIN (I had just arrived and was waiting for SSN).
nelsona
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Post by nelsona »

Open the account and add his name later.
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MaggieA
Posts: 150
Joined: Sun Oct 31, 2004 4:06 pm

Post by MaggieA »

I'm in the south (Atlanta) and my bank let my Canadian-resident father open an account with me as joint. He just had to provide a letter saying why he wanted an account and fill out some forms. I think the key here was that I was a well established customer, so the bank was well disposed.

If you have a decent relationship with your bank, try just asking them.
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