How to avoid giving your social?

April 7th, 2014, 11:36 PM

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.

April 7th, 2014, 11:44 PM

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

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.

How to avoid giving your social?

Discussion in Traders Hideout

How to avoid giving your social?