Acceptance Agents are entities (colleges, financial institutions, accounting firms, etc.) who are authorized by the IRS to assist applicants in obtaining ITINs. They review the applicant’s documentation and forward the completed Form W-7 to IRS for processing. An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. To apply for an ITIN, complete IRS Form W-7, IRS Application for Individual Taxpayer Identification Number. Form W-7 requires documentation substantiating foreign/alien status and true identity for each individual.
- It is issued either by the Social Security Administration (SSA) or by the IRS.
- You will receive a letter from the IRS assigning your tax identification number usually within seven weeks if you qualify for an ITIN and your application is complete.
- Acceptance Agents are entities (colleges, financial institutions, accounting firms, etc.) who are authorized by the IRS to assist applicants in obtaining ITINs.
- Original documents you submit will be returned to you at the mailing address shown on your Form W-7.
Assuming you qualify for an Individual Taxpayer Identification Number (and you follow the W-7 form instructions correctly), you should receive an ITIN within seven weeks. But due to potential processing delays, it’s advisable that you add some extra wiggle room. This is especially true if you’re mailing your ITIN application to the U.S. from overseas as an expat or non-resident. You can mail the W-7 can a company declare a dividend that exceeds eps and documentation to the address in the Form W-7 Instructions. Bring it to your local IRS office, or use an acceptance agent (colleges, financial institutions, or accounting firms that are authorized by the IRS to assist applicants in obtaining ITINs).
ITIN holders pay taxes.
A Social Security number (SSN) is issued by the SSA whereas all other TINs are issued by the IRS. If you’re a US citizen who regularly files taxes, you likely have a Social Security number. But if you’re a non-citizen, the Internal Revenue Service (IRS) still expects you to report taxes every year — for which you’ll need an Individual Taxpayer Identification Number (ITIN). If you have or are eligible to obtain a social security number, you are not eligible for an ITIN. For more information see Allowable Tax Benefits in the Instructions for Form W-7 PDF.
How To Get An ITIN Number For Non-Residents & Expats
Original documents will be returned to the address on record after processing your application. The IRS is currently processing Form W-7s within 11 weeks after receipt. We are taking every action to minimize delays, and we are processing requests in the order they were received. If you will need your original documents for any purpose within this three financial statements processing timeframe, you may wish to apply in person at an IRS Taxpayer Assistance Center or CAA. You may also choose to submit certified copies from the issuing agency instead.
They’ll review the W-7 and documentation before sending it to the IRS. Applicants who meet one of the exceptions to the requirement to file a tax return (see the Instructions for Form W-7) must provide documentation to support the exception. If you are not a U.S. citizen and do not have a Social Security number, learn how to get and use an Individual Taxpayer Identification Number (ITIN) to file a federal tax return. As the name implies, an ITIN is a dedicated tax ID number that allows individuals to report their earnings, expenses and deductions to the IRS.
ITINs do NOT provide legal status or work authorization.
Original documents you submit will be returned to you at the mailing address shown on your Form W-7. Applicants are permitted to include a prepaid Express Mail or courier envelope for faster return delivery of their documents. The IRS will then return the documents in the envelope provided by the applicant. If questions 11 through 17 on Form SS-4 do not apply to the applicant because he has no U.S. tax return filing requirement, such questions should be annotated “N/A”.
If all your authentication information matches, you may be issued the same number. You must have a PTIN if you, for compensation, prepare all or substantially all of any federal tax return or claim for refund. You can apply for an ITIN any time during the year when you have a filing or reporting requirement.
A foreign entity that completes Form SS-4 in the manner described above should be entered into IRS records as not having a filing requirement for any U.S. tax returns. Failure to respond to the IRS letter may result in a procedural assessment of tax by the IRS against the foreign entity. If the foreign entity later becomes liable to file a U.S. tax return, the foreign entity should not apply for a new EIN, but should instead use the EIN it was first issued on all U.S. tax returns filed thereafter. IRS issues ITINs to help individuals comply with the U.S. tax laws, and to provide a means to efficiently process and account for tax returns and payments for those not eligible for Social Security numbers.
You also must submit evidence of your identity, age, and U.S. citizenship or lawful alien status. For more information please see the Social Security Administration website. ITIN holders must verify their identity through the video chat process and will need a valid email address, proof of ITIN, one primary document and one secondary document. At Expat CPA, we npa ratio definition specialize in helping non-residents, US citizens and expats remain compliant with the latest IRS tax codes. In addition to dedicated support for W-7 form instruction, we can also help you determine your expat eligibility for Social Security and other federal benefits. Even though the basic process for obtaining an ITIN is fairly straightforward, IRS forms are notoriously confusing for citizens and foreign nationals alike.