Can we get a USD bank account within the Federal System?

Question

There are lots of other questions on this, but the answers are either out of date or don’t actually answer the question.

I do not require any suggestions for payment alternatives, or offers to help set up a location or company in the States. I do not want suggestions that I should open a USD demoninated account outide the Federal System.

We currently have a US bank account which is being closed down because they are closing down all non-resident company accounts, and we are looking for an alternative.

I have tried a very wide selection of US banks, and not one appears (now) to be willing to accept an account from a non-US companty, even if they are registered with the IRS under the double taxation treaty. Our own bank, HSBC, has ignored our requests for assistance, and I am under the impression that it is possible, but only for larger businesses.

So, if you know with certainty that it is or isn’t possible to open an account or can help with that, by all means answer, as there must be many thousands of companies in our position.

Answer

Simon,

Please share any responses you obtain here.

Obviously, if your question is answered on this forum it will be automatically shared, but if you obtain an answer other than on this forum (maybe at a later date), can you post back to this forum to keep all interested updated.

Answer

Simon, One of the first questions they will ask is why you want the account if you are closing everything down?
Also, you say you have a IRS #.. What state are you registered in?
I am happy to look into this for you if you need some assistance from this side

Paul : British Wonder LLC

Feel free to contact me paul@britishwonder.com

Answer

Colin, will do.

Hi, Paul,

Thanks for your response.

I am not closing anything down. Our US bank is kicking out all foreign accounts.

The Federal tax authorities allows foreign companies with no US address to obtain an EIN under the double taxation treaty – but that’s neither here nor there. It’s needed to register with Apple for example. We are not registered for tax in any State, because we do not pay any tax in any State because we are a UK company.

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