Do I need an EIN to receive dollars?
Usually not. US customers will normally ask a foreign company for Form W-8BEN-E instead; check with a tax adviser. You need an EIN if you form a US company. If your principal place of business is outside the US, the IRS takes applications by phone, fax or mail, not online.
From How to get a USD account as a non-US company, by Pavel Skalin. Updated .
The wider picture
The key points from the guide this answer comes from:
- You don't need a US entity to receive, hold and send dollars, but you need the right details for the rail your customers use.
- ACH and Fedwire need a US account number and routing number; SWIFT needs a SWIFT code and an account number or IBAN. They aren't interchangeable.
- Some banks use different routing numbers for ACH and wires, so put both on your invoice, labeled.
- A US customer paying a SWIFT USD account outside the US sends an international wire, which costs more and can arrive short. For regular US customers, US account details work better.
More questions on this
- Can I get a US bank account without forming a US company?
- What's the difference between ACH and wire routing numbers?
- Can US customers pay a SWIFT USD account outside the US?
The full guide
You don't need a US entity to receive, hold and send dollars. You do need to know which rail your counterparties will use, because ACH, Fedwire and SWIFT details are not interchangeable.
Read How to get a USD account as a non-US company, with its sources.
General information, not legal, tax or financial advice. Rules and providers' terms change; check the sources in the guide and take advice on your own situation.
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