Hi,
I'm U.S. born but returned to Ireland when young. Irish citizenship obtained and self employed in Ireland.
I'm looking to open a portfolio but the online trading accounts request confirmation of U.S. citizenship and direct a W-9 form needs to be filled out.
I can see many posts relating to the W-8Ben form being completed for non-U.S investment holders but nothing on this topic other than a recommendation to declare that you're Irish and avoid the issue altogether. I'm not quite comfortable with that idea as I travel to the US frequently and do not wish to fall foul of any illegalities. I've spoken to one or two others in a similar position to myself and their completely unawares as to it (nor did they seem to care too much about it either).
I would imagine the situation is quite common for many but I can't seem to have any firm advice on the issue. If anyone could provide some good advice on how best to deal with this, that would be extremely appreciated. I'm concerned that filing one out might be opening Pandora's box in respect of US tax liabilities. On the other hand, I'd like to be able to open my online accounts and commence trading. Am I wrong in thinking I'm between a rock and a hard place here? Or is there an exemption for people like me in respect of U.S. tax liability? Any advice or suggestions would be greatly appreciated. Thanks.
I'm U.S. born but returned to Ireland when young. Irish citizenship obtained and self employed in Ireland.
I'm looking to open a portfolio but the online trading accounts request confirmation of U.S. citizenship and direct a W-9 form needs to be filled out.
I can see many posts relating to the W-8Ben form being completed for non-U.S investment holders but nothing on this topic other than a recommendation to declare that you're Irish and avoid the issue altogether. I'm not quite comfortable with that idea as I travel to the US frequently and do not wish to fall foul of any illegalities. I've spoken to one or two others in a similar position to myself and their completely unawares as to it (nor did they seem to care too much about it either).
I would imagine the situation is quite common for many but I can't seem to have any firm advice on the issue. If anyone could provide some good advice on how best to deal with this, that would be extremely appreciated. I'm concerned that filing one out might be opening Pandora's box in respect of US tax liabilities. On the other hand, I'd like to be able to open my online accounts and commence trading. Am I wrong in thinking I'm between a rock and a hard place here? Or is there an exemption for people like me in respect of U.S. tax liability? Any advice or suggestions would be greatly appreciated. Thanks.