Can a foreign national be a part owner in a NY C Corp without a social security number or ITIN ?

Asked over 1 year ago - New York, NY

My accountant claims that they cannot list anyone as an owner on our corporate returns who doesn't have a valid social security number.

Attorney answers (2)

  1. Ronald J Cappuccio

    Pro

    Contributor Level 16

    3

    Lawyers agree

    Answered . Yes. The owner of a C corporation is actually not listed on the 1120 unless they have more than 20% equity. If you see http://www.irs.gov/pub/irs-pdf/f1120sg.pdf this lists schedule G and states "social security # if any". Note, if a distribution or dividend is made, the shareholder should have a TIN (Taxpayer Information Number) and might have to file a US Non-Resident Income Tax Return.

    I hope this helps!

    Ron Cappuccio
    www.TaxEsq.com

    If you do not like this answer or disagree, please look at one of the other answers provided. It is not necessary... more
  2. Ian Edmund Scott

    Contributor Level 12

    1

    Lawyer agrees

    Answered . I agree with my colleague.

    The content of this answer has been prepared by Scott Legal Services, P.C. for general informational purposes only.... more

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