Hacks Non-Resident's Use to Open U.S Bank Accounts (Without Fail)

[@Facuobenauer]

This is really high quality information, thank you for always helping non-US citizens!!

[@Gabistruwwelliese]

Thank you for this video. Questions (single member LLC foreign owned): 1) US OPERATIONS: When Mercury asks for address they are also asking whether you have US OPERATIONS - and if you don't they will have to close your account in 2 months; the other option they give you is to say that you plan to have US operations in the next 6 months and they make you tick off boxes (employees, investors, customers, suppliers, locations). What this means for disregarded entities is that they are kinda forcing you to be liable for tax purposes in the US?! 2) PERSONAL US ADDRESS Providing an US proof of address (when you live abroad) - doesn't that provide proof that you are liable as an individual person to the IRS? 3) US ADDRESS AS DISREGARDED ENTITIES (i.e., single member LLC foreign owned with non US related activities). As disregarded entities we give the IRS our home/business address abroad, saying we have no US connected income/locations which would make you liable in the US (A virtual address does not figure as US connected income but a real one does). But then, if we send a personal US address to the bank, it seems to me this might be breaking the law, or have I interpreted this wrong? Like, telling the IRS "hey we have no business with the US, so we are not liable," but then telling the bank, "hey, we are living in the US/we have US operations".... 4) WHERE THE HECK DID THAT COME FROM?! These policies are very confusing. I wonder whether they were done out of some new law or smth that imposed this on neobanks/fintechs... I hope to see that in the next videos! Thanks in advance!!!

[@customersupport9055]

This is such a great question

[@razaazmat6824]

This all is what is on my mind as well. Have you managed to find any answers?

[@Gabistruwwelliese]

@@razaazmat6824 I've contacted Mercury with some questions, I'll reply here when they answer. I hope this channel makes a video as well. All the best.

[@Gabistruwwelliese]

MERCURY'S ANSWERS: Hi folks, I'm here to share the answers that I asked Mercury about US-based operations (I can't say anything about the IRS topic, I hope James will talk about Mercury + IRS issue for disregarded entities). I asked these things to Mercury in the context of a single member LLC disregarded entity (owner living and doing business abroad) that offers digital services and products, and considering that LLC won't have any US investors (one option as proof of US-based operations) and no suppliers of physical products (another option). TRANSACTIONAL VOLUME: "We understand every business is unique.There is no threshold of transactional volume that determines US operations. However, transactions with US-based suppliers, clients, etc., will aid in establishing US operations. Supporting documents related to these transactions may be requested to validate their purpose." US-CUSTOMER ADDRESS "Mercury will need enough address information to confirm your customer address and that the transaction matches the payments/payouts on the account." (folks, please be aware of privacy laws in the US and abroad when asking this, e.g., GDPR) DIGITAL SUPPLIERS: (I asked: What does Mercury consider as "suppliers" for an online business in the content creation and online services sector? ) "The services should suffice for this request, although Mercury's internal teams reserve the right to request further information. Not all digital service vendors/suppliers may be accepted as they are digital in nature." ARE US-BASED CONTRACTORS PROOF OR JUST EMPLOYEES? "US-based contractors and part-time or full-time employees will aid in establishing US operations. However, supporting documents will be requested to validate employment statuses and association with your company." I hope this helps someone!! Cheers!

[@thevictor6209]

@@Gabistruwwelliese thank you for sharing this, I’m a little confused by their response. For US Customers Address, does this mean that having customers in the U.S. is considered U.S. operations? These customers are not exclusive to us. Personally, I do ecommerce and I have customers in the United States, and I work with US partners who don't work exclusively with me, like Shipbob, Shopify... this isn't considered a US operation, and having customers in the US can be considered a US operation? That’s really surprises me

[@JaffStore-zf2rj]

James, you're amazing. Your videos provide valuable information and are helpful in solving real-world problems.

[@MaguevetHome]

As a Non-Resident, you can obtain a bill proving your physical address in the USA, but at the same time, you will need to fill out not only the W8-BEN form but also explain on RUSA ( Reason for U.S. Address or Other U.S. Indicia ) form why you use or have a physical address and a phone number in the USA… one “solution” leads to a new problem… could you make a video explaining this? Thank you.

[@JamesBakerCPA]

I haven't had to deal with this RUSA issue. You can fill out the W8ben as normal

[@Alexrenaudmusic]

​@@JamesBakerCPA​​@JamesBakerCPA Hey James. Question for you regarding LLC and virtual address. I am working on getting my LLC in USA for my new e-commerce business. If I purchase a residential address on anytime mailbox, can I use this same address as a personal address to receive utility bills to be able to apply to open a US bank account?

[@amvora777]

A US bank where I already had an account sent me a notice saying CMRA is not accepted as a residential address. I changed my residential address at that bank to the address of an Extended Stay hotel where I had stayed for a month at that time. I changed the mailing address to the CMRA. So far, no issues. It has been almost a year. Was this a good workaround?

[@arabpods1369]

But they need a contract that show you are living in that address no?

[@millerslocal]

Does having a US residential address not create a tax issue though? Or would one still qualify as foreign owned despite providing a US residential address?

[@lextor4712]

Thank you so much for this video!

[@Ryansanvy]

1st 🤗 Thanks James

[@belawamonajulie3964]

I am giving up. Struggled and paid money to form LLC , waited 6 weeks to get an EIN now I have to deal with the stress of opening a bank account in the US. This is a lot of stress and money spent just to be able to open a stripe account for my e-commerce.

[@JamesBakerCPA]

Well there are two ways to do it. The cheaper way is to watch all the videos and try it yourself. Sometimes it works. I'm trying to help with these videos. The other way is to pay someone like us to do it all. It's a lot more expensive but also a lot more faster and we have so much experience doing it. Whatever you decide, good luck!

[@belawamonajulie3964]

@@JamesBakerCPA thank you James, I did not know you provided these services. I have just discovered your channel. I will definitely reach out to your team for help.

[@cadeaulucmann1949]

​@@JamesBakerCPAi contacted you so many times and every time when the appointment is set you only cancel it at the last minute maybe you don't accept everyone

[@JamesBakerCPA]

Hey, I don't cancel appointments for my clients. But sometimes based on the facts presented on the links for the free calls the team will email you about it before the call but it's definitely a conversation. At the same time we may not be able to help everyone but we try

[@cadeaulucmann1949]

@@JamesBakerCPA I understand thanks for replying

[@socialadvertising-gr6ef]

Love Your Videos ♥️

[@وحیداحمدکاکر-م3ي]

super informative ❤❤❤

[@وحیداحمدکاکر-م3ي]

thanks sir you done your promise❤

[@AZANlA]

So can I use Vonage Home Internet with a friend's residential adress then I can get a bill?

[@JamesBakerCPA]

Yes and it works for some banks

[@habibnaamen4985]

Thanks James for the information I wanna ask about your service (opening business sbank account) how much does it cost? I have an LLC already

[@strauss7151]

It's getting increasingly painful to do business in the US as a foreigner 😓

[@JamesBakerCPA]

Yes It is getting harder but with the right tools and team it's still a great option

[@robrodas4928]

Can I use this commercial addresses to create my LLC?

[@jennelwilliams-thomas9704]

Relay is no longer accepting Registered Agent address. I recently opened an LLc and now I am unable to open a account

[@JamesBakerCPA]

We can help our clients fix this but yes you need a US address

[@IUBUniversity-BeninRepublic]

Were you able to solve this problem?

[@hussainaliakber6496]

What if i use my cousin real home address for both the residential and business address is this recommended, or would you suggest using a virtual commercial address for the business address?

[@daveaway]

Great Info

[@tonym5400]

Hi James, you said: "and you can have a mailing address in any state it doesn't really matter where your LLC is. We open LLCs for clients in Wyoming and we use our office as the business address." But how can that be the case when the LLC must have an address in WY to register an LLC in WY? Or are you saying that the LLC address for registration is one thing, but a mailing address is another thing? In which case I may as well use the registered agent address for the LLC address and get an additional mailing address in say TX.

[@naylbadawi4635]

Just for my understand, if i find a decent residential adress, do i place the business adress their as well or should they be seperate ?

[@NolLyboo]

now that you have a residential address here comes the need for an SSN

[@Y.Ashraf718]

How to increase the limit on the mercury debit card?

[@trafalgarlaw8004]

how can i online open an checking account as an non us resident private person to pay my credit card bill?

[@HHISTORYY]

How about the ssn how do I get it

[@jawbone1218]

Please compile stepwise guide playlist for opening an LLC diy start to finish. Thanks James.

[@jimbaker]

on it

[@jickjulius]

Thanks a lot sir, I am still waiting for incfile to get my EIN from IRS they told me I have to wait three months

[@milionteshome7181]

You should wait for 3 months. There is a way to get within one or 2 weeks.

[@jickjulius]

@@milionteshome7181 they applied for it and after two weeks I asked them if they can call and request for my EIN my saw my request turned down, In that case what should I do sir,

[@jickjulius]

@@milionteshome7181 How do I do sir, because I asked them to give them a call but they turned down the option

[@jickjulius]

Good sir, my EIN was sent to me yesterday instead of the time period they gave me, thanks a lot

[@zakiel5415]

Me too, I have been waiting for two months

[@tovaapollo4033]

I don't understand how you get a proof of address from a prepaid phone. Do they send bills?

[@marcososa1986]

I already have a US Bank Account, I am going to form an LLC in WY. Do I still need a US Business address? DO I need a US Business Bank Account? Can I open one with the LLC Documents and a bank statement from my existing US Bank Account?

[@juniorcarioca8137]

thanks thanks

[@siratlyde]

Hello, I registered my LLC with NorthWestRegisteredAgent, can I change my official adress ? What if I don't and provide the banks with the new adress I purchase, does that works ? Or does the adress I provide have to match with the official adress of the LLC ?

[@imranstar123]

I have the same question? @JamesBakerCPA

[@robrodas4928]

How much do I need to open a chase bank accout?

[@JamesBakerCPA]

I think they want a $100 deposit. Maybe it's $1000.

[@Millenniumkhan]

So i have question If i have LLC, is only requirement utility to open Bank account as nin resident (i live in Uzbekistan, and i have LLC, but i have not opened Bank account, thats why im here), am i right Or for me better to get physical address even i have LLC under my name? If I get a physical address, do I still need utility bills to open a bank account? Thanks in advance for your answers

[@Millenniumkhan]

And i need your advice and answers, plsss

[@salestaxllc1394]

You cant open a physical US bank, unless you visit US. Your option is to open Fintech bank accounts like Mercury or wise...

[@AbduhakimAliMohamed]

Is non CMRA must, they seem abit expensive.

[@Caballd]

Hello, im a non us resident and want to open a bank of america business account, I already have the llc do I need to be physicly in the us bank to open it or can i open it online ?

[@supplecurassow6627]

Very funny question but how much does it takes to register an llc + consultation fee

[@JamesBakerCPA]

Fair question If you schedule a free call with my team you can get a discounted call with me and LLC's are cheap on their own but our service can help a lot www.jamesbakercpa.com/schedule

[@kirohisham6003]

Well, to confirm the information, please confirm it to me. To solve the problem of opening a bank account, or for people who own a limited liability company, impose one and are not residents of America. The solution is to provide my residential address or the address of the country where I live outside of the United States to Relay

[@asesoriatributaria2599]

I provided my real address invoice outside of the USA and then they asked me for an invoice with the LLC address in relay, and I have not been able to move forward with them to open a bank account for me. were you able to open an account with relay?

[@kirohisham6003]

@@asesoriatributaria2599I did not open a bank account because I have problems opening a limited liability company in America and problems with payment because I reside in Egypt and Egypt is the biggest problem in my life and in my professional future 🥲 But the problem is only a problem of time and patience...

[@kirohisham6003]

@@asesoriatributaria2599 .

[@icejoux]

Should the utility bill be in my name or in the name of the LLC?

[@AZANlA]

Yours

[@SmartMoneyRyan]

cant find one that works for me, tax resident of canada where my business is, but living in indonesia and not a tax resident here, but i am a permanent resident.

[@IvanAkinfiev]

How do you get a SSN or ITIN, to begin creating a credit score for yourself?

[@moussabelramoul8455]

SSN is only for citizens and some residents. The ITIN you have to go to the IRS website and look for it. There’s a couple options

[@mr_age509]

How do I contact you and your team to handle this for me???

[@md.imranhasan6387]

Hey James, I have opened LLC in Texas state last month and got EIN also. I have tried to open Mercury and Relay account with my business address and my local bank account statement and got rejected. What I will do now?. Would you please help me to open a bank account to start business in your country? I don't have physical address in US. Thanks in advance.

[@JamesBakerCPA]

What is your passport? Maybe need more addresses and to try again. A new series is being recorded this week

[@salestaxllc1394]

Have you made a website for Mercury bank account? It's highly feasible to have a website , showcasing your products/services, that u intend to sell in US. Mercury requires that u should have a prior established business , setup in US.

[@kirohisham6003]

Something, my friend, can you help me with how to obtain the EIN number as if you are not a resident of America?

[@jasminbertic]

Mercury screenshot which you showed it says: "specifically, we're looking for the address where you do most of your work-either US-based or international: -a personal residence, if you work from home." Why can't i just use my own home country address as they literally said that ?

[@d-tech5338]

I used my home country address. Works fine so far. I did not get one of those e-mails.

[@sanjogupreti1976]

@@d-tech5338hey did you open mercury account lately?

[@jimbaker]

You can for now but only mercury allows this and they could change their policies at any point. Relay just change the policies and if you try any other bank it will matter.

[@sammmmmyyyyy]

I think you can. But some countries would be disqualified based on that country’s fraud history data

[@JamesBakerCPA]

Yes it works for now for sure. But it doesn't hurt to be ready in case the policy changes

[@RuslanKhamidoullin]

"Soul Good"

[@casatiratulum]

Do you need an ITIN to open a physical personal bank account?

[@proro485]

Yeah, otherwise you need to visit the bank in person.

[@thevictor6209]

How can I use a brother address as business or residential address for Mercury?

[@JamesBakerCPA]

Get a Vonage bill if needed and use that 9.99 a month

[@thevictor6209]

@@JamesBakerCPA thank you for your reply James! Should I take Vonage on my first name with my brother address? Or for my company with company name if that’s possible? Or I have take Vonage on my brother’s first name? Sorry for replying you here and not in email because some people may be in the same situation and this will help them too

[@icejoux]

@@thevictor6209 I also have that doubt - Mercury says that it can be in the name of the company or in my personal name, but I don't know which would be the best option!

[@chowmonkey2002]

Mercury asks for a proof of address in your home country which is dead simple by for example send them a bank statement with your name and address on it. Opening an account with them took me 15 minutes. Just be transparent and do legit business.

[@icejoux]

So you put your foreign address where you live? And not a US address?

[@chowmonkey2002]

@@icejoux Yes, but that is common these days. They need to know where the UBO resides. It’s a compliancy rule. So they have your US business address and for compliancy reasons your residential address. But when you form an LLC you’ll get the same question. Compliancy is rather common these days and get stricter everyday.

[@Thebboyy]

my llc and registered agent are set up in Wyoming , but I do have a residential address in Texas , can I use it as a proof of business address even tho in the articles of organizations it'S written in Wyoming?

[@salestaxllc1394]

prepare amended articles of organization and submit to secretay of state.....

[@shaunkhan409]

I got my SSN when I was a student in the US. Lost my card and can’t remember my number is there a way to get back the number? . Should I forget about that and just apply for my ITIN. Can you offer assistance if I contact you?

[@vesnagojkovic7447]

I don’t know If you are still in the USA… But if you lost your SSN, you should immediatelly contact US Social Security Administration to report the loss of your card, and ask for replacement, if you need it. In case that someone else found your lost SS card, they could miss-use it, and maybe open some accounts in your name… than you could have a problem!!!

[@anonymousdonor8084]

This will not work. You will need a verified USA phone. To use the internet banking, you will need to receive SMS for logon and 2FA

[@JamesBakerCPA]

Tello and hushed app have worked fine for my clients but it may have changed

[@johnwick860]

can a family member who is a US citizen open a bank account on my behalf?

[@vesnagojkovic7447]

No

[@salestaxllc1394]

make him a partner of your company or a manger , then they can apply for bank account on company behalf....

[@kirohisham6003]

@@salestaxllc1394 Question, my friend, can I open a bank account in Relay with the address of my original country in which I live outside the United States?

[@Moneyminers1]

​@@vesnagojkovic7447are you living in USA?

[@وحیداحمدکاکر-م3ي]

sir if there is need to creat a business wise account practically most people asking 😊

[@mohammadhussein3923]

In all of your videos, you never propose solutions but rather create more burden expenses and create business for your company. Thumbs down

[@A.S.D._Clash]

Hi i would like to get services from your Team but where to contact?

[@awesomestar8041]

I am in Pakistan and I have LLC registered can I open an account