Major American brokerage firms are closing accounts of clients who don’t have U.S. addresses. They are also closing accounts of clients who use American addresses but don’t live stateside.
If you’re like many of the people who’ve recently called my office, you’re probably curious how the firm knew there’s a discrepancy on the account address and where you actually lives? Your IP address (the computer address where you login to access your accounts) may be giving you away. Before bending over backwards to “outsmart” the system, realize that your American brokerage firm wishing you farewell may be a good thing.
What could be good about being forced out?
Listen to the show to
- discover one potential tax problem you could avoid by not using a relative/friend’s American address
- learn the advantages of using a cross-border friendly firm to manage your American investments
