You can't open an IB US account as an European resident. As per regulation you have to have your account at an EU subsidiary, whether in Luxembourg, Ireland or Hungary.
Do I understand that US financial institutions DO NOT report non-us person deposits in them?
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You can't open an IB US account as an European resident. As per regulation you have to have your account at an EU subsidiary, whether in Luxembourg, Ireland or Hungary.
This thread started to informed about the IRS reporting foreigners who have an account in the US, and well explained in FATCA and even better explained by Martin, do we know now in 2023 if anything has changed?
Is the IRS only automatically reporting foreign account holders that have generated more than $10 on interest on their US account?
Any other recent changes? Are dividends & capital gains still up to the account holder to report to the tax authorities back home?
Also, on this thread it was mentioned that brokers such as IBKR and Charles Schwab can only open accounts for Europeans through their UK subsidiaries, which is absolutely true.
Does anyone know where will IBKR and Schwab open an account for someone living in Mexico or in Panama? Do they open the brokerage account in the US, or did I read that Schwab international is based in the Bahamas? Anyone knows, Martin perhaps?
Thanks in advance.
Is the IRS only automatically reporting foreign account holders that have generated more than $10 on interest on their US account?
Any other recent changes? Are dividends & capital gains still up to the account holder to report to the tax authorities back home?
Also, on this thread it was mentioned that brokers such as IBKR and Charles Schwab can only open accounts for Europeans through their UK subsidiaries, which is absolutely true.
Does anyone know where will IBKR and Schwab open an account for someone living in Mexico or in Panama? Do they open the brokerage account in the US, or did I read that Schwab international is based in the Bahamas? Anyone knows, Martin perhaps?
Thanks in advance.
No idea 😕. IBKR alone has so many different entities globally I don't want to assume it would be US so best to ask them directly about both.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Hi, you wrote this information a few years ago, and I'm wondering if you have any idea as to what kind of dividends is the IRS applying a withholding rate?
Is it only in some specific type of dividends or is it on all dividends regardless of how those dividends were generated?
I know is a bit of a complex question.
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