@Vlad Million: It's an interesting question! I received my SSN when I was an F1 student 10 years ago, and I also have an Australian friend who obtained his SSN through a Work and Travel program. However, every personal situation is unique. I recently learned that it’s possible to obtain F1 status by enrolling in an English language school (directly in the US), joining a part-time MBA program, or even starting a PhD program if you’re over 30. English language programs are relatively affordable compared to an MBA 🫣 and much shorter in duration than a PhD. Additionally, F1 status doesn’t count toward the Substantial Presence Test, according to @James Baker’s videos. So, if you have the option to enter the US as a visitor, you could visit an English language school, discuss enrolling with F1 status and obtaining an SSN, and you’re all set 🥸. Again, it all depends on your personal situation—sometimes an ITIN might be sufficient.

@Oyinda Akinyemi: regarding the SSN — yes, you're right. Looking back on my student life, it was clearly the smartest move. As for opening checking, savings, and CD accounts with Capital One — once you have access to a personal profile (thanks to a credit card), you can open these accounts online in just a few clicks, without any lengthy manual approval process. And yes, I did open checking, savings, and CD accounts, and even received cash bonuses for doing so.

@Teo Luka: As far as I know (though I don’t remember the source of this information...), you don’t have to fill it out. You should only complete it if: 1. There is a tax treaty between your home country and the U.S. 2. You want to claim a tax credit in your home country based on taxes paid to the U.S. Based on the information you provided, there’s no reason to fill it out.

@Teo Luka: If you (just like most of people here) live outside the U.S. and have a "Foreign-Owned U.S. Disregarded Entity (DE)" , then you pay 0% income tax in the U.S., and pay income tax in countries where you are obliged to pay the income taxes based on their laws (flat 30% income tax -?). There could be situations, when you live outside the U.S., but still need to pay the taxes in the U.S., e.g. due to U.S. investments, but it must be discussed with a tax professional. In the simple case - leave it blank, and don't claim tax credits in your home country.

@Matteo Manzi: filling 5472 in that video was like a joke 🤣. James put $500 in field "28. Purchases, leases, licenses, etc., of intangible property rights (for example, patents, trademarks, secret formulas)". He didn't mean that you paid yourself $500 as distribution (=salary).

@Matteo Manzi "pay yourself" means that you transfer money from the bank account of your LLC to your personal bank account

Hi @Khron Cloud, I've done research on "D Total assets". If you have "Foreign-Owner LLC DE" (i.e., "Disregarded Entity), it must NOT be filled in. It must be filled in some other cases... By the way, if you mark "E initial return", you should also enter the dates in "For the calendar year 2024..." (at the top)

@Michał Jóźwiak For reference, here are the official instructions: https://www.irs.gov/instructions/i5472 1) Form 5472 is not meant exclusively for "Foreign-owned U.S. DE.", it is meant for any U.S. Corporation with >=25% of foreign ownership or a Foreign Corporation engaged in a U.S. trade or business, and most of fields are meant for them. "Foreign-owned U.S. DE." is one of the categories that must file this form, but most of the fields are not applicable to it, including "Total assets". According to the link above: "Line 1c. Total assets: Domestic reporting corporations enter the total assets from Form 1120, page 1, item D. Foreign reporting corporations enter the amount from Form 1120-F, U.S. Income Tax Return of a Foreign Corporation, Schedule L, line 17, column (d)." So, "Foreign-owned U.S. DE." is not mentioned here at all. Furthermore, enumerated fields in Form 1120 for "Foreign-owned U.S. DE." must be empty according to all guidelines I've seen. 2) Yes, from the date of formation to the date of dissolution, don't forget to put checkbox "E1 Initial return" on form 1120.