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ITIN Application Form W7Individual Taxpayer Identification Number

All rental property owners in the US must have a US Tax ID (ITIN). The application for the ITIN should be made at purchase or within a few weeks of purchase.

Purpose of ITIN

The ITIN is a number issued by the Internal Revenue Service for individuals not eligible for a US Social Security Number.
It is easily recognized - a 9-digit number beginning with a "9"   e.g.  9XX-XX-XXXX

This tax identification number enables the individual to file non–resident US tax returns, (as required by Federal Law).The US Tax ID, (ITIN) is also required by banks, lending institutions and management companies. It is needed in order to obtain a license to rent out the property, and if not produced, may result in a 30% loss of rental income to the IRS.

An ITIN does not authorize work in the US or provide eligibility for Social Security benefits or the Earned Income Tax Credit. ITIN’s are not valid identification outside the tax system.

Form W7 - ITIN Application

In order that we apply for your US Tax ID, you should complete, sign and return form W7 (one per owner), together with a notarized or certified copy of the picture page of your passport.

In addition, we will require a copy of your settlement statement and in some cases, a letter from your management company

Notes on completing Form W7:-

Box 3: Please give details of your address in your home country, where the form requires your “Foreign Address”

Box 4: US dates are always shown in month/date /year format

We will then submit the Form W7, together with the notarized passport copy and documentary evidence as required by the IRS in order for them to issue the number.

Each homeowner, as shown on the Deed, must produce these items which will allow us to apply for their ITIN numbers.
Federal Law demands that all homeowners file a tax return, annually.

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