I am legally residing in the US, but I don't have a resident alien status (ie dont have a green card). I tried to open a Vanguard mutual fund account, but they said they cannot do it online because of my citizenship status. I was told to fill out a paper form and mail it to Vanguard along with IRS for W-8. What is this form and why do I need to fill it?
Also, do you have any tips for foregners who want to open brockerage accounts in the US? I am under impression that it is almost impossible or requires a lot of complicated paperwork.
2006-09-18 07:56:10 · 2 answers · asked by Kaytee 5 in Business & Finance ➔ Investing
I have a feeling people at Vanguard don't know what they are talking about. Citizenship and immigration status are irrelevant in your situation; as long as you physically live in the U.S. and have a Social Security Number or a Tax Identification Number, financial institutions should treat you as a U.S. client, because you are a U.S. resident for tax purposes, even though you may not be a permanent resident for immigration purposes.
2006-09-18 10:40:11 · answer #1 · answered by NC 7 · 0⤊ 0⤋
Check out the IRS.gov site.. you will find what you need there..
http://www.irs.gov/pub/irs-pdf/iw8.pdf
2006-09-18 07:58:31 · answer #2 · answered by limgrn_maria 4 · 0⤊ 1⤋