Opening Bank account in the U.S by family member

[tomboy]

Hello,

I own a single-member LLC in the U.S.
However I'm not a U.S citizen, and I am not a U.S resident. I do have family there though.
I know, it's not possible to open a bank account remotely so I was thinking of appointing a relative as director. This way, he would go to the bank and open the bank account.

would this work? if yes, do I need to pay him a salary (so it makes sense to the eyes of the state) ?

thank you

 

[fshore]

He can't be a director but he can be a manager.
Note that if he‌ is a manager then you might have eci. Especially if you pay him a salary,‍ you shouldn't need to do that, the bank will not ask about that.
He could⁠ be a nominee manager, but make sure to get the ein under your name, and⁤ the bank will ask for details about the beneficial owner.

 

[exprtadvisrdev]

Having a US citizen in your board wouldn't trigger US tax in your LLC?

 

[Davis123]

That could trigger something in usa. Be sure to get an‍ international cpa who know about us taxation problems. Its never advisable to get anything remotely⁠ attached to US. I know this from problems faced by many foreigners who are not⁤ living in usa having US LLCs on ill advised structures. Yes US LLC's can be⁣ a great structure for some.

 

[totalholistic]

Davis123 -Care to share some of the problems non-US residents have had? I was thinking‌ about registering an LLC.

 

[Davis123]

Well there is a plenty of‍ info on this forum about possible problems with US LLCs. You have to file all⁠ the required forms or you would be in deep trouble with IRS. Secondly, you need⁤ to consult a good international CPA well versed with US taxation before doing anything to⁣ deal with US. You will avoid problems down the lane.

 

[Davis123]

That could cause a big problem to US partner if he‍ is not reporting his partnerships and any payouts to you and if he has foreign⁠ bank account with you then you both need to report this. From what I read⁤ even joint accounts with US partners have to be reported who were living outside USA.⁣ That caused a lot of divorces with US spouses over joint accounts and those were⁢ personal accounts.

 

[exprtadvisrdev]

I know, that's why I asked because I guess OP didn't know⁢ about that. I do have an LLC there and CPAs always recommend to avoid US︀ partners if you want to keep things simple

 

[fshore]

It shouldn't be a partner (member) but a manager (similar to director).⁢ If the manager is not doing anything else than opening the bank account then that︀ shouldn't lead to eci.

 

[tomboy]

Thank you guys for all these answers.
Bottom line, I’m not going for that solution.‌ I see it as too risky and I definitely don’t want my relatives to get‍ into trouble with the IRS.
I guess I will just travel there an open bank⁠ account by myself.

 

[Fulton Abraham Sanchez]

T, hi. If the IRS has assigned your LLC a tax ID,︀ you can add any director relative or not to open a bank account, but you︁ will do this amending your articles of formation with WY state to include the director.︂ Do not add the director to apply for a tax ID as the IRS will︃ make the director tax liable.