Trading in the US market, without a US account or address?

A resource forum for those interested in buying, selling, or developing a business; for questions about retirement plans; investing and basically any aspect of acquiring, keeping and increasing one's personal stash of filthy lucre.

Moderator: Charlie Phillips

Trading in the US market, without a US account or address?

Postby timmyjames » 22 Jun 2010, 17:12

Trading in the US market, without a US account or address?

I am a US citizen, have a US address, a US bank account, and use an online US brokerage. Seems to be going smoothly now, but, in the future, I could be losing my US address.

I fear that this could cause some banking issues with my US bank account, and thats where my funds from my brokerage account go.

Does anyone have any clue how to avoid this potential issue?
timmyjames
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
 
Posts: 233
ORIGINAL POSTER
Joined: 09 May 2007, 16:31
1 Recommends(s)
2 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby Chris » 22 Jun 2010, 17:31

timmyjames wrote:I am a US citizen, have a US address, a US bank account, and use an online US brokerage. Seems to be going smoothly now, but, in the future, I could be losing my US address.

I fear that this could cause some banking issues with my US bank account, and thats where my funds from my brokerage account go.

Does anyone have any clue how to avoid this potential issue?

Do you have relatives in the US whose address you could use?
Forumosan avatar
Chris
Maitreya Buddha (Mílèfó)
 
Posts: 14693
Joined: 08 Jun 2004, 15:51
Location: Type-A, Tie-one-on
78 Recommends(s)
168 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby timmyjames » 22 Jun 2010, 18:17

Not really. The address was my childhood home, but my mother was divorced, and has since passed away. I have a sister, but she is more hassle than anything, and we are not very close.
timmyjames
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
 
Posts: 233
ORIGINAL POSTER
Joined: 09 May 2007, 16:31
1 Recommends(s)
2 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby CraigTPE » 23 Jun 2010, 16:09

I have an account at Vanguard, linked to my credit union account in the US, both of which have my Taiwan address on file as my official address.
Forumosan avatar
CraigTPE
Lost Winning Lotto Ticket (zhòngjiǎng cǎiquàn nòngdiū le)
Lost Winning Lotto Ticket (zhòngjiǎng cǎiquàn nòngdiū le)
 
Posts: 2942
Joined: 15 Jan 2008, 17:12
91 Recommends(s)
34 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby timmyjames » 23 Jun 2010, 17:00

Hmmm, well here's to hoping I can get my bank to change my address w/o any b/s...ty for the info.
timmyjames
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
 
Posts: 233
ORIGINAL POSTER
Joined: 09 May 2007, 16:31
1 Recommends(s)
2 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby CraigTPE » 23 Jun 2010, 17:07

timmyjames wrote:Hmmm, well here's to hoping I can get my bank to change my address w/o any b/s...ty for the info.

Dunno why they should give you any trouble. As long as you have a US social security number for tax reporting, that's all they care. I changed mine online with both Vanguard and my credit union. Pretty routine,...
Forumosan avatar
CraigTPE
Lost Winning Lotto Ticket (zhòngjiǎng cǎiquàn nòngdiū le)
Lost Winning Lotto Ticket (zhòngjiǎng cǎiquàn nòngdiū le)
 
Posts: 2942
Joined: 15 Jan 2008, 17:12
91 Recommends(s)
34 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby timmyjames » 23 Jun 2010, 17:17

CraigTPE wrote:
timmyjames wrote:Hmmm, well here's to hoping I can get my bank to change my address w/o any b/s...ty for the info.

Dunno why they should give you any trouble. As long as you have a US social security number for tax reporting, that's all they care. I changed mine online with both Vanguard and my credit union. Pretty routine,...



I have a checking account, and was recently in the US, and added a savings...they were rather strict (I was even using my US address still)...they said after 9/11 they have to do tons of checks

a lot of expats have had problems opening accounts. this one is already established, so hope it's ok with the overseas address.
timmyjames
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
 
Posts: 233
ORIGINAL POSTER
Joined: 09 May 2007, 16:31
1 Recommends(s)
2 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby Jive Turkey » 23 Jun 2010, 17:41

I used my parents' address when opening a Vanguard account years ago, and have since changed the address to here in HK. I seem to remember others saying on this or another forum that Vanguard and Fidelity will definitely let you open with a US address and then change it to overseas, but have at times not allowed US citizens to open the account with a foreign address.

If all you want is mutual funds, then Vanguard is fine for an overseas American. If you want to trade individual stocks frequently, though, I wouldn't recommend them as their brokerage service does not have the greatest customer service. Fidelity or T. Rowe would probably be better in that respect.

You can definitely trade US stocks from brokerages in Taiwan or Hong Kong, but you will pay more for the trades. You may eventually be tossed to the curb by such institutions anyway as they are becoming increasingly paranoid about being accused by the IRS of helping US tax dodgers.
Jive Turkey
Immune to Breathalizers (jiǔ cèce bù chūlái)
Immune to Breathalizers (jiǔ cèce bù chūlái)
 
Posts: 2051
Joined: 22 Sep 2003, 16:24
Location: Donald Tsang's Magic Kingdom
14 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby timmyjames » 23 Jun 2010, 18:20

Jive Turkey wrote:I used my parents' address when opening a Vanguard account years ago, and have since changed the address to here in HK. I seem to remember others saying on this or another forum that Vanguard and Fidelity will definitely let you open with a US address and then change it to overseas, but have at times not allowed US citizens to open the account with a foreign address.

If all you want is mutual funds, then Vanguard is fine for an overseas American. If you want to trade individual stocks frequently, though, I wouldn't recommend them as their brokerage service does not have the greatest customer service. Fidelity or T. Rowe would probably be better in that respect.

You can definitely trade US stocks from brokerages in Taiwan or Hong Kong, but you will pay more for the trades. You may eventually be tossed to the curb by such institutions anyway as they are becoming increasingly paranoid about being accused by the IRS of helping US tax dodgers.



yeah, i use zecco...and they should be ok

just the potential bank issue
timmyjames
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
Shoe-wielding Legislator (huīwǔ xiézi de lìfǎ wěiyuán)
 
Posts: 233
ORIGINAL POSTER
Joined: 09 May 2007, 16:31
1 Recommends(s)
2 Recognized(s)

6000

Re: Trading in the US market, without a US account or addres

Postby Taiwan Luthiers » 26 Jun 2010, 20:39

What about getting a PO Box in the US or places like Mail Boxes etc. that gives you a US based address? At least it gives them a place to send bills or statements to. If you dont want to go to the US right now maybe a mail forwarding service?

the possibilities are endless.
Taiwan Luthiers
KTV Is My Life (jiùshì ài chàng KTV)
KTV Is My Life (jiùshì ài chàng KTV)
 
Posts: 2761
Joined: 05 Mar 2009, 15:15
1 Recommends(s)
74 Recognized(s)

6000

Next




 
 
 x

Return to Money



Who is online

Forumosans browsing this forum: Google Feedfetcher and 1 visitor

To always be intending to live a new life, but never find time to set about it - this is as if a man should put off eating and drinking from one day to another till he be starved and destroyed -- WALTER SCOTT