What is an ITIN? The ITIN (Individual Taxpayer Identification Number) is a nine-digit number that is issued to people who are not eligible to obtain an SSN (for instance non US-Residents)
Who needs an ITIN? Non-Resident aliens who are required to file a federal tax return need an ITIN. For Non-Resident US LLC owners there are other use cases however. Common situations* in which an ITIN might be useful for Non-Resident US LLC owners are:
US PayPal business account opening
Proof of address for bank applications
Credit Card application
*Even you don't need an ITIN as of right now, we advise you to apply for an ITIN. We see the trend that more and more institutions ask for an ITIN. Combine that with an increasingly time consuming and burdensome application process: You probably want to consider getting your ITIN just in case you might need it one day.
What are the requirements to apply for an ITIN?
US Company Formation Documents (Articles of Organization)
Do I need to mail my physical passport to the US? You don't need to mail your passport. We are authorized to process the ITIN application with a scan of your passport
How does the process looks like?
Once you send us all the documents required for the application, we will prepare form W-7 and send a digital signature request
From there we will handle the rest and send you an ITIN as soon as the IRS issued it to you
How long does it take to get the ITIN result? Usually 40 to 60 days. Delays can be expected due to the current pandemic. Please apply for ITIN through us as soon as possible. We experience increasingly long waiting delivery times from the IRS. There is nothing we can do to speed up the process once we submit the correct and complete application for you.
What is Form W-7? Form W-7 is use to apply for an IRS individual taxpayer identification number (ITIN).
Does having an ITIN change my tax obligations? No. All LLC compliance obligations stay the same.