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Tax Payment Options for Foreign Individuals and Businesses without an U.S. Bank Account

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Rödl & Partner Tax Matters Vol 2014 – 7, published in April 2014

 

International taxpayers who do not have a U.S. bank account may follow the instructions below to transfer funds from their foreign bank account directly to the Internal Revenue Service for payment of their individual or business tax liabilities. Although this method of payment is available to anyone with a foreign bank account, it can be costly. Please consider other options, including paying by credit card or use of Electronic Federal Tax Payment System (EFTPS) or other U.S. based payment methods.

 

Note that payments of U.S. tax must be remitted to the U.S. Internal Revenue Service (IRS) in U.S. dollars.

 

International Wire Transfer

In order to complete an international wire transfer through a foreign bank, the Same-Day Taxpayer Payment Worksheet must be completed with the proper Tax Type Code and tax period (year and/or quarter) so that the funds will be properly applied to the tax liability.  The completed worksheet should then be taken to the bank to request international wiring.

 

The foreign bank must have a banking relationship with a U.S. bank, although the U.S. bank does not have to be an affiliate or otherwise related to the foreign bank. Small local banks may not be able to affect an international wire transfer but most large banks can. If the bank is able to transfer money to the U.S., it will ask that an application for international wiring be completed.  The client will need the Routing Transit Number (RTN), also known as the American Banking Association (ABA), number for the "Destination Bank", sometimes referred to by banks as "Beneficiary's Bank".

 

To complete a wire transfer the client will need the following information:

  • A completed Same-Day Taxpayer Worksheet
  • IRS account number – 20092900IRS (optional)
  • IRS account RTN/ABA Number – 091036164 US TREAS SINGLE TX
     
The financial institution may charge a fee for the wiring service. If the foreign bank needs assistance, they may contact the Federal Tax Payment Service Customer Service at 314-425-1810 (not toll free).  
 
The tax type codes needed for the worksheet are below.
 

Foreign Electronic Payments – Tax Type Code

Tax Type Codes for Individuals:

Form NumberForm Name & Type of Payment5-Digit Tax Type Code
1040 ​ ​ ​ ​

U.S. Individual Income Tax Return

Payment for amended return

10400

Extension filed10402
Advance payment of deficiency10404
Estimated tax payment10406
Subsequent Payment (on return or IRS Notice)10407

  

Tax Type Codes for Businesses:

Form NumberForm Name  & Type of Payment5-Digit Tax Type Code
720 ​

Quarterly Excise Tax Return

Deposit

72005

Payment due on return or IRS notice72007
940 ​

Employer's Annual Unemployment Tax (FUTA)

Deposit

09405

Payment due on return or IRS notice09407
941 ​ ​

Employer's Quarterly Employment Tax (FICA)

Deposit

94105

Payment due on return or IRS notice94107
Deficiency assessed by IRS94104
944 ​

Employer's Annual Employment Tax

Deposit

94405

Payment due on return or IRS notice94407
945 ​

Withheld Federal Income Tax

Deposit

 

09455

Payment due on return or IRS notice09457
990T ​ ​

Exempt Organization Business Income Tax

Deposit

99046

Payment with return or IRS notice99047
Payment due on extension99042
1041 ​ ​

Fiduciary Income Tax Return

Payment due on return or IRS notice

 

10417

Estimated return payment10416
Payment on extension10412
1042 ​

Annual Withholding Tax Return for U.S. Source Income for 


Foreign Persons

Deposit

10425

Payment due on return or IRS Notice10427
1120 ​ ​ ​

U.S. Corporate Income Tax

Deposit

 

11206

Payment due on return or IRS Notice11207
Payment due on extension11202
Amended return11200
2290Heavy Vehicle Use Tax22907
8804Annual Return of Partnership Withholding Tax (Section 1446)88047
8489Civil Penalty84894

 

Excepted from the IRS website.

 

If you have any questions, please contact your Rödl & Partner office.

 

 

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