If an LLC is not ETBUS (Engaged in a Trade or Business Inside the United States) is it still possible for it to have ECTI and be required to file 8804/8805 for its foreign partners? The reason I ask is that I got a communication from a CPA once hinting that I had to file 8804/8805s for ANY LLC with foreign partners (even with zero income). The LLC he was filing the return for was not ETBUS. Later I came across contrary info, indicating I only need to file 8804s if there is ECTI. Either there is info to back up the CPA's statement (which I can't find), or he was speaking sloppily and not accurately (and forgetting that the LLC was not ETBUS).

Hey all, thanks James and team for accepting me. I started a Wyoming SMLLC to sell private-label products on Amazon. The Amazon tax interview got me second-guessing everything. After bingeing YouTube, I’ve heard it all: “non-resident sellers pay no U.S. tax” vs “you’re taxed like any U.S. business,” plus “SMLLC is best” vs “go partnership for Amazon. I am Looking for informed, practical guidance Facts (bullet-proofing my situation): - Owner/Residency: I’m an individual non-US person residing in a non-treaty country. - Entity: US single-member LLC (Wyoming). Disregarded by default. - Business model: Amazon FBA (US marketplace) selling physical goods to US customers. Inventory will be stored in Amazon’s US fulfillment centers (multi-state). - Operations: Product design/supplier relationships, listing management, ad spend decisions, etc. are done outside the US. No US employees/contractors. No US office. Questions I’d love expert input on: - ECI determination: With inventory in US FBA warehouses and sales to US customers, is ECI basically a given for a foreign individual running FBA, even if all managerial functions happen offshore? - Best company structure : - 1) Stay SMLLC (disregarded) - 2) Partnership (add spouse or foreign company) - 3) C-corp election

Hey friends, Mercury closed my account back in 2023. I would consider going back to them under a different LLC. Has anyone heard of a person going back to Mercury, or Relayfi or Bluevine and getting approved for a totally different LLC? Or, do we have concrete “proof” that these Neo Banks are in fact banning the actual person, rather than just their LLC?

If you have your LLC you now need to open bank accounts (the first two are free so open both!). I'm going to share some links below to what I think are the best options. They are my affiliate links and I'll address them separately so you can understand the benefits. When applying, be honest but always emphasize more on how you will help your US clients. Relay financial - I have a great relationship with relayfi and they have told me that applicants that use this link have a greater likelihood of being approved. I use relay for my business and it has been great.the account is free to open. https://app.relayfi.com/register?referralcode=jimbaker Mercury bank - this is another great option. Again focus on how you are serving clients in the US. This link should give you bonuses once you are approved. The account is free to open. https://mercury.com/partner/jamesbakercpa Wise - this is not a bank but is a useful way to get paid and pay other people sign up with my link to get free transfers up to $500.. the account is free to open but there are small fees to open different currency accounts https://wise.com/invite/ahpc/jamesb2812 Stripe - if you are selling anything I would first try stripe.com for payment processing. I don't have a special link for them. Let me know if there are other accounts you may be interested in, how this goes for you and which you prefer!

Hi, do you know any good provider for a proof of address that is accepted at Relayfi since there are very strict with their proof of address requirements. I have provided a landline phone bill and it was rejected. Do you know any good alternatives that might give no headache?