Opening Bank account in the U.S by family member

[tomboy]

Hello,

I own a single-member LLC in the U.S.
However I'm not a U.S citizen, and I am not a U.S resident. I do have family there though.
I know, it's not possible to open a bank account remotely so I was thinking of appointing a relative as director. This way, he would go to the bank and open the bank account.

would this work? if yes, do I need to pay him a salary (so it makes sense to the eyes of the state) ?

thank you

 

[fshore]

He can't be a director but he can be a manager.
Note that if he is a manager then you might have eci. Especially if you pay him a salary, you shouldn't need to do that, the bank will not ask about that.
He could be a nominee manager, but make sure to get the ein under your name, and the bank will ask for details about the beneficial owner.

 

[exprtadvisrdev]

Having a US citizen in your board wouldn't trigger US tax in your LLC?

 

[Davis123]

Having a US citizen in your board wouldn't trigger US tax in your LLC?

That could trigger something in usa. Be sure to get an international cpa who know about us taxation problems. Its never advisable to get anything remotely attached to US. I know this from problems faced by many foreigners who are not living in usa having US LLCs on ill advised structures. Yes US LLC's can be a great structure for some.

 

[totalholistic]

Davis123 -Care to share some of the problems non-US residents have had? I was thinking about registering an LLC.

 

[Davis123]

Davis123 -Care to share some of the problems non-US residents have had? I was thinking about registering an LLC.

Well there is a plenty of info on this forum about possible problems with US LLCs. You have to file all the required forms or you would be in deep trouble with IRS. Secondly, you need to consult a good international CPA well versed with US taxation before doing anything to deal with US. You will avoid problems down the lane.

 

[Davis123]

Having a US citizen in your board wouldn't trigger US tax in your LLC?

That could cause a big problem to US partner if he is not reporting his partnerships and any payouts to you and if he has foreign bank account with you then you both need to report this. From what I read even joint accounts with US partners have to be reported who were living outside USA. That caused a lot of divorces with US spouses over joint accounts and those were personal accounts.

 

[exprtadvisrdev]

That could cause a big problem to US partner if he is not reporting his partnerships and any payouts to you and if he has foreign bank account with you then you both need to report this. From what I read even joint accounts with US partners have to be reported who were living outside USA. That caused a lot of divorces with US spouses over joint accounts and those were personal accounts.

I know, that's why I asked because I guess OP didn't know about that. I do have an LLC there and CPAs always recommend to avoid US partners if you want to keep things simple

 

[fshore]

That could cause a big problem to US partner if he is not reporting his partnerships and any payouts to you and if he has foreign bank account with you then you both need to report this. From what I read even joint accounts with US partners have to be reported who were living outside USA. That caused a lot of divorces with US spouses over joint accounts and those were personal accounts.

It shouldn't be a partner (member) but a manager (similar to director). If the manager is not doing anything else than opening the bank account then that shouldn't lead to eci.

 

[tomboy]

Thank you guys for all these answers.
Bottom line, I’m not going for that solution. I see it as too risky and I definitely don’t want my relatives to get into trouble with the IRS.
I guess I will just travel there an open bank account by myself.

 

[Fulton Abraham Sanchez]

Hello,

I own a single-member LLC in the U.S.
However I'm not a U.S citizen, and I am not a U.S resident. I do have family there though.
I know, it's not possible to open a bank account remotely so I was thinking of appointing a relative as director. This way, he would go to the bank and open the bank account.

would this work? if yes, do I need to pay him a salary (so it makes sense to the eyes of the state) ?

thank you

T, hi. If the IRS has assigned your LLC a tax ID, you can add any director relative or not to open a bank account, but you will do this amending your articles of formation with WY state to include the director. Do not add the director to apply for a tax ID as the IRS will make the director tax liable.