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How to avoid giving your social?


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 dougscott03 
Old Greenwich + CT/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Russell 2000
Posts: 4 since Mar 2014
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Hi, I would prefer for various reasons not to give my social to my broker when I set up a new account. I am a US citizen, though. Does anyone have any clever thoughts how this could be avoided,eg through an offshore company etc? I have no problems declaring the brokers account to the IRS at tax time but I don't want to use my social security number to set up the account. Any thoughts most appreciated.


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  #3 (permalink)
 
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 edassery 
chicago. IL , USA
 
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As far I know the broker need to report your trading to the IRS directly and for that they need your social.
you could probably avoid that by using a corporation or LLC ..
please consult with your CPA or tax expert


dougscott03 View Post
Hi, I would prefer for various reasons not to give my social to my broker when I set up a new account. I am a US citizen, though. Does anyone have any clever thoughts how this could be avoided,eg through an offshore company etc? I have no problems declaring the brokers account to the IRS at tax time but I don't want to use my social security number to set up the account. Any thoughts most appreciated.


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Last Updated on April 7, 2014


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