Forming a Wyoming Limited Liability Company (LLC) is a popular choice for non-U.S. residents looking to establish a business presence in the United States. Wyoming’s privacy protections, low fees, and lack of state income tax make it especially appealing. However, to fully operate your LLC—including opening a U.S. bank account—you’ll need an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). For non-U.S. residents without a Social Security Number (SSN), obtaining an Individual Taxpayer Identification Number (ITIN) can be a key step in this process. This article explains how to secure an ITIN, use it to get an EIN for your Wyoming LLC, and leverage that EIN to open a bank account—all from outside the U.S.
Step 1: Understanding the ITIN and Its Role
An ITIN is a tax processing number issued by the IRS to individuals who need to file U.S. taxes or comply with tax-related requirements but don’t qualify for an SSN. For a non-U.S. resident forming a Wyoming LLC, an ITIN isn’t always required to obtain an EIN, but it can significantly simplify the process—especially if you’re dealing with banks or other entities that request a personal tax ID number for identity verification. The IRS issues ITINs to non-residents who: •Have a U.S. tax filing obligation (e.g., income from U.S. sources). •Are claimed as dependents on a U.S. tax return. •Need to comply with other IRS reporting requirements. For a Wyoming Declaratory LLC, the ITIN becomes particularly useful if your business generates U.S.-sourced income or if a bank insists on a personal tax ID to open an account.
Step 2: Obtaining an ITIN as a Non-U.S. Resident
Here’s how a non-U.S. resident can apply for an ITIN:
1. Determine Your Eligibility
You’ll need a valid reason for an ITIN, such as filing a U.S. tax return (e.g., Form 1040NR for non-residents) or reporting income from your Wyoming LLC. Simply owning an LLC isn’t enough—you must tie it to a federal tax purpose.
2. Complete Form W-7
- Download IRS Form W-7 (“Application for IRS Individual Taxpayer Identification Number”) from the IRS website (http://irs.gov).
- Fill out the form, indicating your reason for applying (e.g., “Exception 1(d)” for LLC owners needing to file a tax return or report income).
- Provide your full name, foreign address, and other personal details.
- Download IRS Form W-7 (“Application for IRS Individual Taxpayer Identification Number”) from the IRS website (http://irs.gov).
- Fill out the form, indicating your reason for applying (e.g., “Exception 1(d)” for LLC owners needing to file a tax return or report income).
- Provide your full name, foreign address, and other personal details.
3. Gather Supporting Documents
You must submit original identification documents (or certified copies) with your W-7. Acceptable IDs include:
- Passport (preferred, as it proves both identity and nationality).
- National ID card, driver’s license, or birth certificate (if paired with another ID). The IRS requires these to be notarized or certified by the issuing authority if you’re not submitting originals.
4. Submit Your Application
Mail your completed Form W-7, supporting documents, and any required tax return (e.g., Form 1040NR) to:
Internal Revenue Service
ITIN Operation
P.O. Box 149342
Austin, TX 78714-9342
Alternatively, use an IRS-authorized Certifying Acceptance Agent (CAA) in your country to submit the application without mailing original documents. CAAs can certify copies and streamline the process (find one at http://irs.gov). You can also apply in person at an IRS Taxpayer Assistance Center, but this is impractical for non-residents.
5. Wait for Processing
The IRS typically processes ITIN applications in 7-11 weeks, though delays can occur during peak tax season (January-April). You’ll receive your ITIN via mail to your foreign address.
Step 3: Using the ITIN to Obtain an EIN for Your Wyoming LLC
Once you have an ITIN, securing an EIN for your Wyoming LLC becomes straightforward. An EIN is a federal tax ID for businesses, similar to an SSN for individuals, and most U.S. banks require it to open a business account. Here’s the process:
1. Prepare Your LLC Details
Ensure your Wyoming LLC is registered with the Wyoming Secretary of State (Articles of Organization filed). Have your ITIN ready, though it’s not always mandatory for the EIN application.
2. Apply for an EIN
Online (Not Available for Non-Residents without SSN/ITIN): The IRS online EIN application requires an SSN or ITIN, so this isn’t an option without one.
By Fax or Mail: Use Form SS-4 (“Application for Employer Identification Number”):
- List your name and ITIN as the “responsible party” (the person controlling the LLC).
- Include your LLC’s name, Wyoming address (you may use the address provided to you by AssetWard), and purpose.
- Fax to: (855) 641-6935 (international applicants) or mail to:
- Internal Revenue Service
Attn: EIN International Operation
Cincinnati, OH 45999
- Internal Revenue Service
BEST: By Phone: Call the IRS at +1 (267) 941-1099 (non-U.S. callers, 6 a.m.–11 p.m. ET). Provide your ITIN and LLC details verbally to receive an EIN instantly.
3. Receive Your EIN
Fax applications take about 4 business days; mailed ones take 4-6 weeks. Phone applications provide an EIN on the spot, making it the fastest option for non-residents with an ITIN. Note: If your LLC has no U.S. tax filing obligation (e.g., no U.S.-sourced income), you can sometimes get an EIN without an ITIN by using the phone or fax method and explaining your purpose (e.g., opening a bank account). However, having an ITIN strengthens your application and satisfies stricter bank requirements.
Step 4: Opening a U.S. Bank Account for Your Wyoming LLC
With an EIN in hand, you’re ready to open a bank account for your Wyoming LLC. Here’s how the ITIN and EIN combo helps:
Why Banks Want Both: While an EIN is the primary requirement, some banks (especially traditional ones like Chase or Wells Fargo) request a personal tax ID (SSN or ITIN) for the LLC owner to verify identity and comply with anti-money laundering rules. An ITIN ensures you meet this hurdle as a non-resident.
Bank Options:
- Online Banks: Mercury, Relay, and Wise often accept Wyoming LLCs with just an EIN and Articles of Organization, though an ITIN can expedite approval if additional ID is requested.
- Traditional Banks: Bank of America, Wells Fargo, or U.S. Bank may require an ITIN alongside the EIN, especially if you lack a U.S. physical presence.
- Required Documents: EIN confirmation letter, Articles of Organization, registered agent address, and your ITIN-related ID (e.g., passport).
Benefits of This Process
Access to U.S. Banking: An ITIN and EIN combo opens doors to more banks, giving your LLC credibility and flexibility for payments or investments.
Tax Compliance: An ITIN allows you to file U.S. taxes if your LLC generates income, avoiding penalties or treaty issues.
Scalability: With a U.S. bank account, your Wyoming LLC can integrate with platforms like Stripe or PayPal, expanding your global reach.
Tips for Non-Residents
Start Early: ITIN processing takes weeks, so plan ahead—especially if your LLC needs a bank account quickly.
Use AssetWard’s Service: AssetWard provides a U.S. address for your Declaratory LLC, which banks often require.
Consult a Professional: Tax advisors or CPAs can simplify ITIN and EIN applications, ensuring accuracy.
Check Bank Policies: Confirm requirements with your chosen bank, as some online options (e.g., Mercury) may not need an ITIN at all.
Conclusion
For a non-U.S. resident, obtaining an ITIN is a strategic move to secure an EIN and open a U.S. bank account for a Wyoming Declaratory LLC. While the process involves paperwork and patience—Form W-7 for the ITIN, Form SS-4 or a phone call for the EIN, and bank-specific steps—it’s a worthwhile investment. This pathway remains a reliable way to establish your Wyoming Declatory LLC’s financial footing in the U.S., whether you’re launching an e-commerce venture, consulting firm, or investment vehicle. With the right preparation, you’ll unlock the full potential of your Declaratory LLC without ever stepping foot in Wyoming.
