Since vanguard doesnt allow “non-resident aliens” to open an account, i was curious what do my “non-resident alien” friends (whether on h1 or otherwise) do to get around this block? what are other viable alternatives to mutual funds? and do they allow non-resident aliens to register? YOE/TC: 0/160
Just open a brokerage account with schwab. For taxing purposes you are a resident alien
You can still file as a resident. The exception gives you a right but not an obligation of filling as a non-resident for tax purposes
Could you elaborate? Because if that’s the case, I’d have to indicate to all other places (banks and otherwise) to change my w8-Ben form to an equivalent form for resident aliens
From https://www.irs.gov/individuals/international-taxpayers/substantial-presence-test: "If you do not timely file Form 8843, you cannot exclude the days you were present in the U.S. as an exempt individual or because of a medical condition that arose while you were in the U.S." So don't file that form. And then file 1040.
Robinhood duh.
I’m doing that currently, but looking for more stable and easy mutual fund investment opportunities