US tax implication for non-us citizen.

Discussion in 'Taxes and Accounting' started by polee2000, Jun 7, 2005.

  1. What is the US tax implication. If my buddy (a non-US citizen) residing oversea trades US index futures with IB. Does he have to file any tax papers ?
  2. ck9


    as far as i know he would need to file a w8-ben form. then he only would have to pay taxes on capital gains in his home country.
    on dividends there is still a 15% witholding. maybe there is a way to get that back from the irs but i have no idea how - never tried that.

  3. Have him carefully read the following, including click-throughs, regarding non-residents trading in U.S.-based accounts:
  4. gkadir


    I am having the same issues. I thought it may work if you set up a deleware company and not pay tax, but you have to pay federal tax, does anyone know how to get around paying federal tax?
    I live outside the USA.
  5. NYSEProTrader, thanks for article.