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.
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Robinhood duh.
I’m doing that currently, but looking for more stable and easy mutual fund investment opportunities