What will happen under the following scenario: 1. Company is domiciled in the Cayman Islands 2. Trading account is open with a US clearing firm such as RCG 3. Company earns $1m in profit How will the clearing firm report the earnings? Since the company is a foreign domicile, would it receive a 1099-type deal as a US company would? Thanks -- any thoughts or links would be greatly helpful.
In the US, I doubt most futures brokers open accounts for "companies" without the officers being also on the hook. And I am sure they are not in a hurry to have as customers a company domiciled in the Caymans, rather than in the US. Collect from someone who blows out their account and leaves them few legal alternatives??? That is why individuals fill out 10 pages of fine print when opening their account.