If you are an H4 visa holder living in the United States, you may have heard about the Individual Taxpayer Identification Number (ITIN) and how it can be beneficial to have. It is essential to have an ITIN number to file taxes, open a bank account, obtain a credit card, and even buy a car on credit. In this guide, we will discuss everything you need to know about the ITIN number and how to apply for it.
What is an ITIN Number?
The ITIN Number is a tax processing number that is issued by the Internal Revenue Service (IRS) to individuals who are not eligible for a Social Security Number (SSN). The ITIN Number consists of nine digits and begins with the number 9. The IRS issues ITINs to individuals who need a tax identification number to file their taxes but does not qualify for an SSN.
Why Do H4 Visa Holders Need an ITIN Number?
H4 visa holders are eligible to obtain an ITIN number when they need one to file taxes jointly with their spouse or for other financial purposes like opening a bank account or buying a home. It’s challenging for H4 visa holders to obtain an SSN in the United States. The ITIN Number can help H4 visa holders document their stay in the United States, and upon returning to their home country, they can benefit from a good credit score established through their transactions in the United States.
How to Apply for an ITIN Number as an H4 Visa Holder
To apply for an ITIN Number, H4 visa holders need to submit Form W-7, Application for IRS Individual Taxpayer Identification Number. They can apply for an ITIN number at any time, even if they don’t have a tax return to file. ITIN Number applications must be submitted in person or through an authorized agent who can verify the applicant’s passport and visa-related documents.
Form W-7 Checklist
Your Form W-7 application should be accompanied by:
- A tax return, unless you qualify for an exception and
- Supporting documents, such as student or foreign national loan documentation
How long does it take to get an ITIN Number?
It can take up to 11 weeks for the IRS to process an ITIN Number application. However, the process can be expedited in some situations. H4 visa holders can also get help with their application through a third-party ITIN number acceptance agent.
ITIN Number Expiration
ITIN numbers are issued for a term of five years. H4 visa holders can renew their ITIN number once it expires.
Situations When an ITIN Number May Be Required
Here are some common situations when an ITIN number may be required:
- Joint tax filing with a spouse who is a U.S. citizen or permanent resident
- Rental property lease application
- Opening a bank account or applying for a loan
- Filing an amended tax return
- Conducting business transactions in the United States
- H4 visa holders can apply for an ITIN number to file taxes and establish their credit history in the United States.
- To apply for an ITIN number, H4 visa holders need to submit Form W-7 and supporting documents.
- It takes up to 11 weeks for the IRS to process an ITIN number application.
- ITIN numbers are valid for five years and can be renewed.
ITIN number is essential for H4 visa holders who wish to establish their credit history and file taxes in the United States. You can apply for an ITIN number at any time, so don’t hesitate to apply if you need one.
What is an ITIN number?
An ITIN number is a tax processing number issued by the IRS to individuals who are not eligible for a Social Security Number (SSN) but need an identification number for tax purposes.
Can H4 visa holders apply for an ITIN number?
Yes, H4 visa holders can apply for an ITIN number in the United States.
What documents are required to apply for an ITIN number?
H4 visa holders should submit Form W-7 and other supporting documents such as passport and visa-related documents.
How long does it take to get an ITIN number?
An ITIN number application can take up to 11 weeks to process.