Mistakes Non-Residents Make Opening A US Bank Account

Рет қаралды 10,995

Күн бұрын

In this video, learn about the common mistakes non-residents make when opening a US bank account. Avoid these pitfalls to successfully navigate the process!
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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.
-----Longer videos that explain it all!
How to Legally Pay NO US Taxes - • IRS Secrets: How to LE...
How to Legally Pay NO US Taxes (part 2) - • Are you a Non Resident...
-----Guides and How tos
Annual reporting for a foreign owned multi member LLC (Masterguide) - • Tax Laws for Foreign-O...
What is Form W-BEN and why do I need it • How to Fill Out W-8BEN...
Which payments from US Companies are subject to withholding? • Which US Payments are ...
How to complete Form W-8BEN - • 🧾🔍 HOW TO complete Fo...
How to complete Form W-8BEN-E - • How to Complete Form W...
How to get an ITIN - • Get A ITIN Number - W-...
-----And don’t forget to check out all of the “CALLS WITH JIM”
• Calls with Jim
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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.
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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -
What are sales taxes? • Do I pay Sales Taxes o...
What is a resale Certificate and Why do you Need it - • What is a Resale Certi...
How to get a Florida Resale Certificate, Part 1 - • 📝💼How to get FLORIDA R...
How to get a Florida Resale Certificate, Part 2 - • Get Your Florida Resal...
How to file a DR-15 Florida Sales and Use Tax with 0 Sales - • Florida Sales Tax Fili...
I get asked what company I recommend to help with sales taxes and every time I mention Tax Jar. Once set up, tax jar can complete all of your monthly sales tax filings automatically. If you are looking to solve this problem forever, click this link to find out more about what they can do for you. taxjar.grsm.io...
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Пікірлер: 35

@jc_duenas 10 ай бұрын

Great video as always James, good to hear from you!!

@Akeem_768 9 ай бұрын

When it comes to address it depends on the bank. Wells Fargo & BOA opened mines based on word of mouth but a relative of mines Got a letter from USPS change of address online for less than $2, it was mailed to where he was staying (Air BNB) a few days after, he then took the letter & opened a bank account & that's where the bank sent the cards for him. For this to work you have to be in the US for atleast 2 weeks. I also have an international bank account from Ocean Bank in Miami but the opening deposit is high

@enkitechtiendaonline2034 8 ай бұрын

very intresting, could you pleasee go deeper explaining details, it was just any letter? a letter from where, how that person new about that letter to change the address of it

@lofi_lake 10 ай бұрын

How do I get business card or credit card as non US resident?

@JamesBakerCPA 10 ай бұрын

I think that's what I talk about in the video. Need proof of address and to go and apply

@lofi_lake 10 ай бұрын

@@JamesBakerCPA Amex denied business card application saying not having credit history

@proro485 10 ай бұрын

@@lofi_lake You could checkout another video where he discusses how to get credit card as a non us resident. It's on his channel.

@proro485 10 ай бұрын

@@lofi_lake You could checkout another video where he discusses how to get credit card as a non us resident. It's on his channel.

@kadirismail8007 10 ай бұрын

I have LLC register in New York as non us But I am not having in fact not allowed to open Business account.

@Washa-g4s 7 ай бұрын

Have you managed to get the bank account?

@Washa-g4s 7 ай бұрын

@Siri786-9 it is only possible once you form your LLC & get your EIN. That's what I know.

@syebethel 6 ай бұрын

So can you have a residential address in a different state as your LLC? I chose a WY LLC, but my relatives live in FL and GA.

@ahmadnaweedrustami7354 8 ай бұрын

At 2:44 you show a text about proof of address that says "it must show your name & address of your residence" but you also say that we can use our friend's property. How is that going to work? Because my friend's name will be on the utility bill not mine.

@JamesBakerCPA 8 ай бұрын

Need to order another utility in your name

@ahmadnaweedrustami7354 8 ай бұрын

@@JamesBakerCPA except Truelease, is there any other entity offering this? Because Truelease is expensive and this proof of address is required almost everywhere now.

@Dawe957 4 ай бұрын

@@JamesBakerCPA I could order a new fixed internet/phone line for that at the property?

@saccaro4699 7 ай бұрын

yes, they don't accept mobile bill, just energy or others services

@JamesBakerCPA 6 ай бұрын

Well all the banks are different. Chase still wants a mobile bill. But bank of america and others don't

@AhmadNuaymi 8 ай бұрын

Hey James, have you confirmed if vonage works?

@JamesBakerCPA 7 ай бұрын

Does.for some people at some banks

@janalu4067 6 ай бұрын

@@JamesBakerCPA You should start a granny agency - team up with some grannies/grandpas and other people who need a buck. You could prepare a legal agreement that enables them to safely rent out their residental address for account opening purposes. Maybe 5 accounts max per home. Sounds like a good side hustle to me.

@JamesBakerCPA 6 ай бұрын

@janalu4067 I love the idea. I have many solutions for my clients and this isn't often needed. If you figure it out I'm down. My 6 ways to get an address video is good. The problem is trying to explain this to old people. It's a really weird concept for most people especially the elderly

@MrLelokh 10 ай бұрын

I Live in Brazil and I want to open an US account to sell bitcoins and use dollars all in world by credit or debit card. Which bank do you recommend?

@JamesBakerCPA 10 ай бұрын

One of the online Puerto Rican banks in the bank ranking video I talk about one I put that video out last week

@ahmedelghamrawy543 10 ай бұрын

Is there any new news on BOI

@JamesBakerCPA 10 ай бұрын

Not that I've seen

@Pretahouse 10 ай бұрын

And what happens if you have a problem with that bank, you have to return to US, because those banks only want to deal with you in person. Then, you fix a thing, but create more problems in the future.

@JamesBakerCPA 10 ай бұрын

Well that's why I say always have many options. Most of my clients don't have to come back to fix problems but sometimes accounts do get closed

@enkitechtiendaonline2034 8 ай бұрын

@@JamesBakerCPA and in that case the banks give an option the take out the money in there without going back to the us

@wisamamr5514 7 ай бұрын

@@enkitechtiendaonline2034 No when they close the account they send a check to your residential address by mail to collect it, therefore do not open a US bank account without having a real residential address and other active US bank account to deposit the check they have sent to you, I had this experience when I opened my bank account with Chase and then they closed it because we failed to provide my spouse state ID card due to delay on mail.