401k ITIN number

[KarenBravo]

Any non-US citizens out there who have a 401k plan?

Apparently, you need a US tax number (ITIN) so that you can withdraw 100% of your 401k and not give 30% of your retirement fund to the US government.

Has anyone got this ITIN? Anyone know a US based company that can help a non-US citizen?

[lopburi3]

Unless you are actually filling a US tax return do not believe ITIN is available but believe what you want is the W-8BEN form to declare yourself a foreign national and thus not subject to backup withholding.  

https://www.google.com.sg/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwjNoMvUp63RAhXFQY8KHahpCrgQFgghMAE&url=https%3A%2F%2Fwww.irs.gov%2Fpub%2Firs-pdf%2Ffw8ben.pdf&usg=AFQjCNGekkGZqy2mTlzoCu4-bq6oPNltaw

 

Edit:  Above said do not know status of 401k or if subject to US tax or how you paid into it without an SSN or ITIN if from US earnings.  I take it you never paid US tax before?

Edited January 6, 2017 by lopburi3

[KarenBravo]

I definitely need an ITIN and the form that has to be submitted is a W7 form. This I have already found it. ITINs are given to non-US citizens, in fact it is necessary to be able to get the money out. I've already looked into all of this. Ideally, I want a US based company that can help.

 

A friend has applied to the IRS twice but was rejected twice with no reason given. They really don't make it easy.

[lopburi3]

My wife has one which I obtained for her when it was still possible to do so independent of tax return.  And yes the W-7 form is what is used for that.  But they are normally only issued for paying tax or submitting tax forms to claim money that has already been withheld.  As a matter of fact any ITIN issued prior to 2013 expire after not being used 3 years for a tax return.  

 

The form I mentioned is what is used by foreign parties to obtain US funds without the need of withholding AFAIK.  

[KarenBravo]

I also have to fill out a W8-BEN form in addition to the W7.

Anyway, have found a good agent, so this thread can be closed.

[gk10002000]

I suggest you post a copy of this in the Home Country Forum.  There are a few USA expats there that a lot of tax background and may be able to advise

[KarenBravo]

Just an update on this.

 

Got my ITIN using an agent in Canada. It was US250. No ITIN, no fee.

It took approximately eight weeks.

 

Now that I have the ITIN, I can now fill out the W8-BEN form and reduce the nominal 30% with-holding tax when I withdraw my 401k.