What a resident foreign national needs to open an account
Residency, not citizenship, is what the account opening process turns on. A resident foreign national has access to the same structure options as any other account holder, whether that is an IRA LLC or an IRA Trust, with no additional restrictions on the assets the plan can hold.
Three items are required. First, a US Tax ID, either a Social Security Number or an Individual Taxpayer Identification Number. Second, a physical US address; a PO box or virtual office address will not be accepted. Third, government-issued photo identification, which can be a US driver's license, a state-issued ID card, or a passport.
Permanent residents should expect to provide evidence of residency status as well, most commonly a Permanent Resident Card, as part of the same account opening package.
Opening the entity bank account
Our partner bank opens accounts for resident foreign nationals with a physical US address, the same threshold IRA Resources applies to the IRA itself. If you open the account at a bank you choose, check their policy first, since some apply heightened documentation requirements to foreign national signers even when those signers are US residents.
Where non-resident foreign nationals stand
A self-directed IRA through Self-Directed Plans and IRA Resources requires US residency. If you live outside the United States and do not hold US resident status, the plan is not currently available to you, regardless of whether you hold US-source income or a US Tax ID.
Frequently Asked Questions
Can I open an account with an ITIN if I do not have a Social Security Number?
Yes. An Individual Taxpayer Identification Number satisfies the US Tax ID requirement on its own. No separate documentation is needed to explain why you hold an ITIN rather than a Social Security Number.
Does citizenship affect which plan structure I can use?
No. A resident foreign national can hold an IRA LLC or an IRA Trust on the same terms as a US citizen, and the choice between them follows the same considerations that apply to any account holder: the assets you intend to hold and the level of ongoing state filing you want to take on.
Does my visa or immigration category matter?
What matters to the account opening process is documented US residency and a valid US Tax ID, not the specific category under which you hold that status. Because immigration status can carry tax consequences beyond the account itself, confirm your US tax residency position with a qualified tax professional before funding a plan.