A client asked to pay a company, so I formed a US LLC from abroad and waited for the letter. When it arrived I assumed the number on it was mine. It was the company's EIN.
I still don't have a Social Security number. The personal number, when you have a US tax reason and can't get an SSN, is an ITIN: nine digits, starting with 9, not work authorization. The EIN never turned into one.
Opening the bank account made the split obvious. For a US LLC the online business account wants:
- The formation documents, such as the articles of organization.
- The EIN letter, a CP 575 or a 147C.
- A passport for every owner with 25% or more.
- A physical business address. A registered agent, a P.O. box, or a UPS Store is not enough.
That account is the company's. ITIN Club is where I found the order written out, in How to open a US bank account as a non-resident and How to get an ITIN as a foreigner.
The same bank guide is also where I read that a foreign-owned single-member LLC usually files Form 5472 each year even with no income, and that the penalty for skipping it starts at $25,000. I'm not giving advice. I'm writing down the line I would have missed if the only thing I kept was the formation email.
Top comments (1)
The distinction between the company’s EIN and a personal tax identifier is useful for founders setting up from abroad. Banking document and address requirements can vary by provider, so checking the exact requirements before applying can save time. For reporting obligations, it also helps to review the company’s specific circumstances with a qualified tax professional. What was the most confusing part of the account application for you?