OutsideFounder

Plain-English guides for non-US founders forming a US company: LLC, EIN, banking, Stripe, D-U-N-S. Step by step, with real costs and timelines.

[OutsideFounder @OutsideFounder]

Moving your own money into your foreign-owned LLC, or taking some out, counts as a reportable transaction on Form 5472. Log each transfer with the date and amount as it happens. Rebuilding a whole year of transfers in April is where most owners get stuck.

[OutsideFounder @OutsideFounder]

@alexadark @georgehkt @Wise Most big US banks will only open a business account for a non-resident in person at a branch, with your passport, EIN letter and LLC documents. Fully remote, it is mostly the online business banks. If one US trip is possible, a branch account is the sturdier backup.

[OutsideFounder @OutsideFounder]

@illyism One caveat for non-US founders: forming a US company doesn't guarantee access to US business-card bonuses. Approval can depend on the issuer's identity, address and credit requirements. Form the company because you need it, not for bonuses you may not qualify for.

[OutsideFounder @OutsideFounder]

@founderscredit Small tweak to the order: the ITIN isn't needed for the EIN or for opening Mercury. It mostly matters later, for personal US credit like that Amex card. So the bank account can come right after the EIN, and the ITIN can wait a few months.

[OutsideFounder @OutsideFounder]

@MoneyRuse @cagujjubhai @pbless_ @Christoffernzm Depends on the number of owners. A single-member LLC with a non-US owner is disregarded, so payers usually want a W-8BEN from you as the person, not a W-8BEN-E from the LLC. Some platforms still ask for the entity form for FATCA, so follow what each one requests.

[OutsideFounder @OutsideFounder]

Treat the LLC's bank account as the company's, not a second personal wallet. Move money to yourself as a clearly labeled owner draw and keep personal spending off the business card. Clean records make the yearly filing easier and keep banks from asking questions.

[OutsideFounder @OutsideFounder]

@bowtiedbrazil Worth adding for anyone reading this: no US income tax isn't the same as no US filing. The yearly 5472 with a pro forma 1120 still applies, and your home country will usually want its share of that income, so check local rules first.

[OutsideFounder @OutsideFounder]

A foreign-owned single-member LLC files every year, even with zero revenue: Form 5472 attached to a pro forma 1120, due April 15. Missing it can bring a $25,000 penalty. If you formed this year, put it in your calendar now so spring doesn't surprise you.

[OutsideFounder @OutsideFounder]

Put your LLC's annual report date in your calendar the day you form it. In Wyoming it's due on the first day of your anniversary month, from $60. Miss it and the state can dissolve the company, which quietly breaks your bank and Stripe setup too.

[OutsideFounder @OutsideFounder]

Single-member LLC? Write an operating agreement anyway. Most states, Wyoming included, don't ask you to file one, but US banks and payment processors often request it during onboarding. A short signed PDF that names you as sole member saves a back-and-forth later.

[OutsideFounder @OutsideFounder]

Non-US founders: your US LLC's name on the bank account, Stripe, and EIN letter must match EXACTLY, down to "LLC" vs "L.L.C." and commas.

One mismatch = weeks of verification delays.

Copy the name from your state filing and use it everywhere.

[OutsideFounder @OutsideFounder]

Before you file anything for a new US LLC, write the company name exactly once and copy-paste it everywhere: state filing, EIN application, bank, Stripe. A missing comma or "LLC" vs "L.L.C." is enough to trigger a manual review months later.

[OutsideFounder @OutsideFounder]

@PhysicsP30512 An EIN covers the LLC; an ITIN is a personal tax ID and isn't what gets your company paid. Route payouts to a USD account in the LLC's name, then convert to PKR from there. Sending business income straight to a personal bank weakens the LLC's separation.

[OutsideFounder @OutsideFounder]

@tncycnsz @PawelJLisowski @FilipPanoski If Stripe is the main reason, a US LLC with an EIN and US bank account opens Stripe US. It also brings yearly state fees and a Form 5472 plus pro forma 1120, even with zero US income. While revenue is small, a merchant of record like Paddle or Lemon Squeezy works without one.

[OutsideFounder @OutsideFounder]

@ifiokambrosee @OoTheNigerian @stripe @BankMercury For collecting payments, Flutterwave covers a lot. A US LLC pays off when Stripe, app stores, US clients or investors expect a US entity, and it adds yearly state fees plus a Form 5472 filing. If buyers already pay fine via Flutterwave, stay local until a US partner asks.

[OutsideFounder @OutsideFounder]

@sahiltheway @stripesupport No record after 3 months means the SS-4 never got processed. Get the exact filing date and copy from Atlas, then call the IRS as the responsible party. From outside the US the international line ([phone]) can assign the EIN on the phone, so you skip another re-file wait.

[OutsideFounder @OutsideFounder]

@allright_eric Put a return fax number on the SS-4, since the IRS faxes the EIN back to it. If nothing arrives after about 2 weeks, call the IRS international line at [phone] with a copy of your SS-4. They can look it up and often give you the EIN on the call.

[OutsideFounder @OutsideFounder]

@dizzyecom That 7.625% is Albuquerque's gross receipts tax. Meta charges it based on your ad account's business address, and NM taxes digital ads. End advertisers get no exemption; only resellers can use an NTTC. Don't fake an address. Book it as ad cost.

[OutsideFounder @OutsideFounder]

@itsnadora Once the EIN letter lands, apply to two US business banks the same week. Each bank screens owner countries differently, so one "no" isn't final. Have articles, EIN letter, operating agreement and passport ready, and use your real home address, not the registered agent's.

[OutsideFounder @OutsideFounder]

@RisingSunInt_ @GarrettPetersen France has a tax treaty with the US, and royalties under it are withheld at 0%, not 30%. The fix is the tax form your storefront or publisher asks for: a W-8BEN (or W-8BEN-E for a company) with your French tax ID and the treaty claim filled in. Fix it on each platform separately.