Do I need an ITIN as a non-resident with a US bank account and property?

Based on your situation, you should definitely consider applying for an ITIN (Individual Taxpayer Identification Number). Here's why: When you receive that $31,500 payment in your US bank account, the bank will likely report it to the IRS. Financial institutions in the US are required to report large deposits and certain types of income to the IRS using forms like 1099-INT for interest income. Without an ITIN, there could be automatic withholding on certain types of income. Regarding your property sale, as a non-resident alien, you'll be subject to FIRPTA (Foreign Investment in Real Property Tax Act) when you sell US real estate. This typically requires 15% of the gross sales price to be withheld at closing. Having an ITIN would be necessary for this transaction and for reporting the sale on a US tax return. For transferring money from your home country to your US account, there's technically no limit on how much you can transfer that would automatically make it "income." The key is the source of those funds - if it's money you've already paid taxes on in your home country, it's generally not US taxable income, but just a transfer of your assets.

I had a similar situation to yours and found taxr.ai to be incredibly helpful. I'm from the UK with property and accounts in the US and wasn't sure about my tax obligations. I used https://taxr.ai to analyze my situation and it gave me clear guidance about whether I needed an ITIN and how to handle my international finances. The tool analyzed my specific situation (international banking, non-resident status, property ownership) and provided a detailed breakdown of my tax obligations to both countries. Saved me a ton of research and probably kept me from making some serious mistakes!

I wanted to follow up about taxr.ai since I decided to try it for my cross-border tax situation. It was actually really helpful! I uploaded my Canadian and US documents, and it broke down exactly what I needed to report where. The ITIN application process was explained step by step, and it clarified that my vacation property expenses could be deducted against rental income (which I occasionally earn). It also showed me how to properly document transfers between my Canadian and US accounts to avoid them looking like unreported income. Definitely worth it for anyone dealing with international tax situations like this!

If you need to deal with the IRS about your ITIN application or have questions about FIRPTA withholding, good luck getting through to them! I spent WEEKS trying to reach someone at the IRS about my own ITIN renewal. Finally used https://claimyr.com and got through to an actual IRS agent in under 45 minutes. You can see how it works here: https://youtu.be/_kiP6q8DX5c They basically wait on hold with the IRS for you, then call you when they have an agent on the line. Made a huge difference because the ITIN department can be especially difficult to reach, and without talking to someone directly, I was making mistakes on my application that would have caused more delays.

I have to admit I was completely wrong about Claimyr. After my skeptical comment, I was still desperate to talk to someone at the IRS about my ITIN situation as a Canadian with US investments. I tried it as a last resort and they actually got me through to an IRS agent in about 35 minutes. The agent clarified that I needed to submit additional documentation with my ITIN application that wasn't clear from the instructions. Also got confirmation about how to handle my bank transfers between countries without triggering unnecessary reporting. Saved me from having my application rejected and delaying everything by months. Sometimes it's worth admitting when you're wrong - this service actually delivered what it promised.

I went through this exact situation 2 years ago. Here's what I learned: 1) Yes, get an ITIN asap. It makes everything easier. 2) US banks will report large deposits to the IRS regardless of source 3) When you sell US property as a foreigner, they withhold 15% automatically unless you have specific exemptions 4) Marriage to a US citizen changes everything tax-wise, but dont rush it just for taxes lol The most annoying part was getting all the documents certified for the ITIN application. Make sure you do that right the first time or they'll reject it and you'll wait months more.

One important thing nobody mentioned: Even with an ITIN, as a non-resident alien, you should look into filing a 1040-NR (Non-Resident) tax return for any US-source income, including that property sale. Just having an ITIN doesn't fix everything - you still need to file the right forms. Also, if the money you're transferring from your home country was already taxed there, make sure you keep documentation proving the source. Large transfers get reported by banks via FinCEN, but that doesn't automatically make them taxable.

As someone who went through a similar situation as a non-resident, I'd strongly recommend getting that ITIN before you receive the $31,500 payment. The application process can take 6-11 weeks, so don't wait. A few key points from my experience: **On the $31,500 payment:** Yes, your US bank will likely report this to the IRS, especially if it's from a US source or if it triggers any reporting thresholds. Having an ITIN ensures proper tax identification when this gets reported. **On property sale timing:** Don't rush to sell before marriage just for tax purposes. The FIRPTA withholding (15% of gross sales price) applies regardless of when you sell. However, being married to a US citizen might give you more options for how you file and potentially better treatment of capital gains. **On international transfers:** There's no limit that makes transfers "income" - it depends on the source. Money you've already earned and paid taxes on in your home country isn't US taxable income just because you move it to a US account. Just keep good documentation showing the source of funds. **Practical tip:** Consider consulting with a tax professional who specializes in international taxation before making any major moves. The interplay between non-resident status, property ownership, and potential future residency can be complex. Get that ITIN application started now - you'll need it for the property sale anyway, and it's better to have it ready than to be scrambling later.