Purchasing from England

[Cassie K]

Hello, I am in the process of negotiating my first DVC contract (yay!) and wondered if there was anything I should be aware of as an overseas buyer? I’m checking that the seller is based in the US as I understand that it can cause problems if both parties are overseas, but any other advice or experience would be much appreciated.
Thanks

 

[Ronaldo17]

You will need to apply for an ITIN (Individual Tax Identification Number)from the IRS on a W/7 form in order to complete the purchase. The selling agent/broker should be able to put you in touch with a reputable US tax accountant who can explain the process and do this for you for a charge.

It can take a few weeks to obtain an ITIN.

 

[Cassie K]

You will need to apply for an ITIN (Individual Tax Identification Number)from the IRS on a W/7 form in order to complete the purchase. The selling agent/broker should be able to put you in touch with a reputable US tax accountant who can explain the process and do this for you for a charge.

It can take a few weeks to obtain an ITIN.

Thanks for this info. I’ll look into that asap.

 

[CVG]

You will need to apply for an ITIN (Individual Tax Identification Number)from the IRS on a W/7 form in order to complete the purchase. The selling agent/broker should be able to put you in touch with a reputable US tax accountant who can explain the process and do this for you for a charge.

It can take a few weeks to obtain an ITIN.

No you don't? I didn't. You only need that if you are wanting to rent out your points through the board sponsor (but not all brokers require it)?

Or have I missed/dodged a step?

 

[blizzard]

You will need to apply for an ITIN (Individual Tax Identification Number)from the IRS on a W/7 form in order to complete the purchase. The selling agent/broker should be able to put you in touch with a reputable US tax accountant who can explain the process and do this for you for a charge.

It can take a few weeks to obtain an ITIN.

You should only need an ITIN (or SSN) if you’re selling (and then only if you want to attempt to get your withheld tax back). Or as mentioned when you’re renting - the key is income and tax withholding.

 

[Ruttangel]

Bought 3 contracts from UK and never needed a ITIN

 

[Cassie K]

No you don't? I didn't. You only need that if you are wanting to rent out your points through the board sponsor (but not all brokers require it)?

Or have I missed/dodged a step?

I’ve just checked with the agent and he has confirmed that we don’t need one. The info @blizzard has given is correct.

 

[Cassie K]

You should only need an ITIN (or SSN) if you’re selling (and then only if you want to attempt to get your withheld tax back). Or as mentioned when you’re renting - the key is income and tax withholding.

Thank you. I’ve just checked with the agent and you are absolutely right. Should save a bit of paperwork so that’s good.