For anyone still waiting, here's what I've learned from 5 years of tracking this process: 1. SBTPG funding to bank deposit typically takes 1-5 business days 2. Online banks like Chime and Cash App often receive deposits 1-2 days faster than traditional banks 3. The trace number appearing is the most reliable indicator that your deposit is imminent (usually within 24 hours) 4. SBTPG status updates don't always happen in real-time - sometimes they update after your deposit has already arrived 5. Regional processing does seem to exist - Southeast tends to process slightly faster than Northeast or West Coast 6. If your status hasn't changed in 7+ days, that's when you should consider calling Hope this helps someone avoid the stress I went through learning all this!

Thank you so much for sharing this detailed timeline! This is exactly the kind of information that helps reduce the anxiety of waiting. I'm particularly interested in your observation about the trace number timing - I've been checking my account obsessively and didn't realize that was such a reliable indicator. Quick question: when you say you received the trace number around 8pm, where exactly did you see it? Was it in your bank account, the SBTPG portal, or somewhere else? I have a DDD of 3/14 and SBTPG has shown funded since Monday, so I'm hoping to spot that trace number soon. Also using Chime, so fingers crossed I follow a similar timeline to yours! Your point about regional differences is fascinating - I'm in Texas and wondering if that puts me in a similar processing group as Mississippi. Thanks again for taking the time to document all of this!

yall are overthinking this lol. i just claim exempt on my w4 and have zero withheld all year, then pay it all in april. been doing it for 7 years. never had a penalty.

Great question! I went through this exact same thought process a couple years ago. You're absolutely right that you can legally adjust your withholding - I reduced mine significantly and have been investing the difference in index funds. The key is understanding the safe harbor rules everyone mentioned. I use the "100% of last year's tax" method since it's the most predictable. Just take your total tax from line 24 of last year's 1040, divide by your number of paychecks, and make sure at least that much is being withheld each pay period. One thing I learned the hard way - set up a separate savings account for your tax money and automate transfers into it every payday. It's way too tempting to spend that extra cash if it just sits in your checking account. I treat it like another bill that has to be paid. The psychological benefit is huge too. Instead of feeling like the government is taking my money all year, I feel like I'm choosing when and how much to pay. Plus last year I earned about $1,200 in returns on money that would've just been an interest-free loan to the IRS!

Hey Chloe! Completely understand the panic - I remember getting my first 1042-S and thinking I'd accidentally triggered some international tax incident over pocket change! You're absolutely right not to stress about this. The form is basically just a receipt showing that Robinhood did what they're legally required to do - withhold US tax from your dividends before paying you. Think of it like automatic tax deduction from a paycheck, except it's from your dividend payments. For £13 in dividends with £4 withheld, you definitely don't need to file anything with the IRS. The withholding satisfied your US tax obligation, and the amount is way too small to worry about trying to recover through filing a US tax return. On the UK side, since you mentioned you've never earned enough to pay UK tax, you're almost certainly under the personal allowance threshold, so you wouldn't need to report this to HMRC either. Just keep the form filed away safely in case you need it in future years when your investments grow. One tip for going forward: double-check that you have a proper W-8BEN form on file with Robinhood. This should reduce your withholding rate from 30% to 15% under the US-UK tax treaty, which will save you money as your portfolio grows. The difference isn't much now, but it adds up over time! Don't worry - you haven't broken any laws and you're definitely not ending up on any blacklist over this. Welcome to the world of international investing!

Don't worry Chloe, you're definitely not alone in this confusion! I had the exact same panic when I got my first 1042-S form as a UK investor. The key thing to understand is that this form is actually proof that everything was handled correctly - Robinhood automatically withheld the required US tax from your dividends before paying you the rest. For your small amount (£13 dividends, £4 withheld), you absolutely don't need to file anything with the IRS or worry about breaking any laws. Since you mentioned you've never earned enough to pay UK tax, you're likely well under the personal allowance threshold, so you probably don't need to report this tiny amount to HMRC either. Just keep the form safe for your records. Going forward, I'd recommend checking that you have a proper W-8BEN form completed with Robinhood. This should reduce your withholding rate from 30% to 15% thanks to the UK-US tax treaty. Won't make much difference now, but as your investments grow over the years, that 15% savings really adds up! Trust me, the IRS has much bigger concerns than chasing UK students over £4 in tax. You're doing everything right - welcome to international investing!

Don't forget about tax treaties! Many countries have tax treaties with the US that can reduce or eliminate withholding for J1 research scholars. For example, if you're from the UK, Germany, China, or India (among many others), you might qualify for reduced withholding. You'll need to fill out Form 8233 in addition to your W4 to claim treaty benefits. Your university should have this form available through the international office or payroll department.

As someone who went through this exact situation last year, I want to emphasize something that might not be obvious: even though you'll likely become a resident alien later in 2024, you should absolutely check the nonresident alien box on your W4 right now. Here's why this matters: your current withholding needs to match your current status. If you don't check the box, your employer will withhold taxes as if you're a US resident from day one, which could result in significant overwithholding that you'll have to wait until tax season to recover. When your status does change (likely after your second calendar year as a J1, not just based on days present), you can submit a new W4 to adjust your withholding going forward. Most universities are very familiar with this process since they deal with international scholars regularly. One more tip: keep detailed records of all your entry/exit dates and visa statuses. You'll need this information for your tax return, and it helps if any questions come up about when exactly your residency status changed.

This is definitely encouraging news! The status change from "Still Processing" to "Received and Being Processed" after identity verification is a strong positive indicator - it means the IRS has successfully confirmed your identity and released your return from the verification hold back into normal processing channels. Your 18-minute online verification time is actually really good - it suggests your documentation was clean and straightforward, which should help prevent any additional delays going forward. Based on what I've observed in this community, most people see their refunds within 2-3 weeks of this specific status change. For your mother's care planning, I'd definitely recommend checking your IRS online account transcript if you haven't already. You'll want to look for transaction codes 971/570 (the verification hold codes) to clear, and eventually see code 846 appear with your actual deposit date. If you have direct deposit set up, refunds typically post on Wednesdays once processing completes. The fact that you're seeing this positive movement just 7 days after verification is actually quite good timing compared to what many others experience. You've successfully navigated the biggest hurdle - the identity verification process - and now you're back in the standard processing queue rather than sitting in limbo. I'd plan conservatively for early-to-mid April for your refund, but many people see results faster than that. You're definitely moving in the right direction, and this status change is exactly what you want to see at this stage of the process!

This is absolutely a positive development! The status change from "Still Processing" to "Received and Being Processed" after identity verification means the IRS has successfully cleared your verification and your return is now actively moving through their processing system again. As someone who's been through this exact scenario, I can tell you that your 18-minute online verification time is actually excellent - it indicates your documentation was clean with no red flags that could cause additional delays. Most people in your situation see their refunds within 2-3 weeks of this status change. Given the urgency with your mother's care expenses, I'd strongly recommend checking your IRS online account transcript if you haven't already. Look for transaction codes 971/570 (verification hold codes) to disappear, and eventually code 846 to appear with your deposit date. This will give you much more specific information than the Where's My Refund tool. The fact that you're seeing this positive change just 7 days after verification is actually quite good timing. You've cleared the biggest hurdle - identity verification - and now you're back in normal processing rather than sitting in limbo. If you have direct deposit set up, refunds typically post on Wednesdays once processing completes. Plan conservatively for early-to-mid April, but many people see faster results. You're definitely moving in the right direction, and this status change is exactly what you want to see at this stage!