Does appointing US resident Power of Attornery for my trading account affects my NRA status?
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Does appointing somebody who is US resident as a Power of Attornery for my trading account affects my Non Resident Alien status? I am Not US citizen or Green Card Holder. I have not Visited United states ever. But, I am going to appoint my friend who is US resident as a Power of attornery for my trading account with US brokerage for Trading US SECURITIES. Does US Power of attornery affcets my Non resident alien to Resident alien status for tax purposes in United states ? I am not talking about : 1.Tax in my Home country 2.Interests from Bonds or Dividends Thank you.
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Answer:
It should not. But FINRA and the IRS are always looking out for shady dealings. Any transactions must be made by a US citizen and all monies must be reported and its origins.
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Other answers
Your NRA status is not affected by a POA.
ninasgramma
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