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BANGKOK 20 October 2018 18:49
Jingthing

U.S. topic: Interactive Brokers possibly an expat friendly brokerage and IRA account firm

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Disgusting and sick because just because one is not physically standing in the US any longer, does not mean they are no longer a US citizen or that they are permanently out of the USA.  Many people choose to and are able to live abroad or travel abroad for extended periods of time.  Where one is moving about should have absolutely no bearing on anything.  Uncle Sam and the IRs will tax and report gains to the Feds and a US citizen is legally responsible for properly filing their tax returns. 


Yes, our tax dollars at work.

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We've been able to "work around" the problem of maintaining a U.S. investment account while living overseas by continuing to keep a U.S. address (a commercial mail forwarding service), continuing to us our U.S. credit union as a primary bank (doing ACH transfers to Bangkok Bank from time-to-time) AND giving our U.S. lawyer a POA -- one that was executed on a form acceptable to the financial manager's company.  They had a little heartburn when they saw that the notary stamp for our signatures was from the U.S. Consulate-Chiang Mai and not from a specific state, but they got over it, especially since the lawyer is practically within walking distance of the financial manager and drops by his office from time-to-time to sign forms.

 

All communication and decisions are routed through Hubby and me, either via phone or email with the lawyer copied.  He just ignores the communication unless he's told he has to go sign something, which doesn't happen very often.  Fortunately, the lawyer is an old friend and every year I have to remind him (well, actually his secretary) to bill us for his time as serving as our POA for the year.  It isn't much.  

 

So, I guess from the perspective on the investment company, the client is actually the lawyer, not us.  I doubt we'd be able to set up a new account with them using this "work around" however.  It's only because our financial manager didn't want to see us pull out our funds, I suspect.

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