Opening bank acocunt on TN visa

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netb2b

Registered Users (C)
I am a TN holder with my family on TD visa. I need to know how can I open an account here in US without SSN. Do I need to file taxes both in US and Canada at the end of year.

I have a US$ account in Canada but problem is that my company dosesn't transfer funds outside US. Should I personally deposit cheque to my account in Canadian bank or open an account here in US. I also don't have any US$ credit card but I have credit card for Canadian dollars and there is much currency conversion difference if I use my current credit cards and its a loss.

What is the best option to go with. Any ideas are really appretiated.
 
netb2b said:
I am a TN holder with my family on TD visa. I need to know how can I open an account here in US without SSN. Do I need to file taxes both in US and Canada at the end of year.

I have a US$ account in Canada but problem is that my company dosesn't transfer funds outside US. Should I personally deposit cheque to my account in Canadian bank or open an account here in US. I also don't have any US$ credit card but I have credit card for Canadian dollars and there is much currency conversion difference if I use my current credit cards and its a loss.

What is the best option to go with. Any ideas are really appretiated.
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Open a bank account in the US and tell the bank that you have applied for the SSN and will provide them with it as soon as you get it. Most of the banks agree.

Your cdn tax filing situation will depend on your ties with Canada and when you moved to the US.

Ask you bank for the secured credit card and start building the Credit history. Within a month, someone should give you the (unsecured) credit card.
 
I am doing work on a corp-to-corp basis, meaning I have a canadian corporation registered and providing servics to my clients on a contract. I think I don't need to pay taxes in US but in Canada as every cheque will be drawn to my company account and I will be submitting it to my business US$ account in a Canadian bank. Pleas let me know if I am right.

Thanks
 
If you continue to RESIDE in canada , then your income will be only taxed in canada (so long as you have no fixed-base in US. If you reside in US however, your income will be taxed in US, and your corp will be taxed in canada.

This is a disadvantage of corp-to-corp, with your corp in canada. You did not need to do this.
 
Thanks so much Nelsona for clarifying, but I still have a doubt. If I don't do a corp-to-corp, then I cannot show my expenses and taxes will be higher then. I was thinking that working on a contract in US as a vendor, my income will only be taxed in Canada and not in US as I am not considered a resident here neither I applied for SSN.

If I apply for SSN, open bank account in US, I guess only then I have to pay taxes in US. Please correct me if I am wrong.

Thanks for your help.
 
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