How did you register yours? * ITIN * ​LLC * ​​EIN *

[Dave Sandford]

Hello brilliant BP crew.

I'm just starting to invest from New Zealand and enjoying the podcasts that brought me here and reading all your informative posts :)

I believe from some research before I start sourcing any properties I'll need these:

• ITIN (https://www.irs.gov/individuals/international-taxp...)
• LLC (https://www.irs.gov/businesses/small-businesses-se...)
• EIN (https://www.irs.gov/businesses/small-businesses-se...)

I'm wondering if there is a best practice in which order I should attain them.

Are they generic enough that I'm best just to do it myself via the above .gov sites?
Or has anyone had success via an agent?

So far I have accumulated:

• USA bank account (Wells Fargo chq/sav)
• USA 'address' (USA2me.com mail forwarding service)

Thanks for reading, looking forward to hearing how you've all gotten these sorted..

[Matt Horwitz]

@Dave Sandford, you'll want to form the LLC in the state where you are buying property and doing business. You'll then get an EIN from the IRS.

Since you don't have an SSN or ITIN, you can still get an EIN for your LLC. You'll just need to use Form SS-4 and mail or fax to the IRS (instead of getting the EIN online). Faxing has a much faster approval time. On line 7b where it asks for your "SSN, ITIN, EIN", just enter "Foreign".

Since you'll likely have a US tax obligations, that's where the ITIN comes in. You'll obtain this via Form W-7. 

The ITIN is not needed right away, so I'd say the order would be LLC, EIN, then ITIN. You should be able to do everything yourself remotely just using an e-fax and/or regular mail. If you decide on a state for your property/LLC, let me know. I'll send over the detailed steps if you'd like.