Currently doing some research for a friend who wants to establish a Wyoming LLC. I noticed the IRS form 5742 asks for:
1. A foreign taxpayer identification number (FTIN)
2. A country under whose laws the related party files an income tax return
While my friend definitely wants to establish a tax residence somewhere in the future, he wants to go fully nomadic for a year or two. Theoretically he won't have a FTIN or tax residence during that time. What is he supposed to fill in the form then?
1. A foreign taxpayer identification number (FTIN)
2. A country under whose laws the related party files an income tax return
While my friend definitely wants to establish a tax residence somewhere in the future, he wants to go fully nomadic for a year or two. Theoretically he won't have a FTIN or tax residence during that time. What is he supposed to fill in the form then?