Foreign Beneficiary of U.S. Estate or 401(k): Why You Need an ITIN
When a non-U.S. resident inherits money from a U.S. estate, receives a 401(k) distribution, or is named as a beneficiary on a retirement account, U.S. tax rules still apply. In most cases, the payment cannot be released without proper tax withholding and reporting. This is where an Individual Taxpayer Identification Number (ITIN) becomes essential. If …
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