Do you need an ITIN to file your taxes and open a bank account in the United States when you don’t have a Social Security Number (SSN)?
ITINs are issued regardless of immigration status (it does not matter if you do not have an SSN or if you are an illegal immigrant) because both resident and nonresident aliens may have a requirement to file U.S. taxes.
The ITIN serves as your tax identification number for:
Filing taxes
Refunding taxes from the IRS
Opening a bank account in the United States.
Great news!
As accredited agents with the IRS, we are trained and authorized by the IRS to help foreign individuals who are not eligible for a Social Security number obtain their ITIN in the United States.
We facilitate the ITIN application process by submitting the necessary documents and can authenticate your identification to send completed forms to the IRS to obtain your ITIN.
We have helped hundreds of non-U.S. residents successfully obtain their ITIN, and we can definitely help you get your ITIN.
What is the ITIN used for?
You can use it to:
File your tax return and pay your taxes
Open a US bank account (both personal and business) (ITIN is required to open a US bank account if you don’t have an SSN)
Open accounts with payment systems (e.g. PayPal, Stripe, Amazon)
Comply with U.S. federal tax withholding requirements for earned income (e.g. royalties, dividends, rental income)
Apply for a mortgage
Apply for an apartment lease
Car financing
Apply for a credit card, and more…
The ITIN is used to help individuals comply with U.S. tax laws, and to provide a means to efficiently process and record tax returns and payments for those who do not qualify for an SSN.
In addition, an ITIN number is required for non-U.S. citizens if you receive income such as: payments, royalties, pensions, annuities, rent or dividends, then you must provide the ITIN to the entity requesting the tax ID (for example: bank, online companies such as Amazon or eBay, insurance company, investment company, college/university, etc.) for tax reporting requirements.
How long does it take to get itin?
Outside of tax season, once we file an ITIN with the IRS, it usually takes 3 to 4 weeks to issue your number.
During tax season, it can take longer due to the increased demand for it on average 5 to 6 weeks to get your number.
What can’t I use my ITIN for?
The ITIN does not entitle you to:
Authorize to work in the U.S.
Changing immigration status
Eligibility for Social Security benefits
An ITIN does not authorize you to work in the U.S. and does not entitle you to Social Security benefits or income tax credit.
Documentation requirements for obtaining an ITIN
You will need 2 sets of documentation to get your ITIN. The first document you will need is your identification documentation. This is usually your passport and visa. The second, is your accompanying documentation. These are traditionally the accompanying documents for your company in the United States.
Conclusions:
If you need an ITIN, we offer a simple and easy process for obtaining one.