Which Stock Brokers Accept ITIN? A Complete Investment Guide

Question

Interested in investing in U.S. stocks but don’t have a Social Security Number? The good news is that most stock brokers that accept ITIN give you legitimate access to American equities. Individual Taxpayer Identification Numbers (ITINs) have become a standard way for international investors, immigrants, and others to open brokerage accounts and build investment portfolios in the U.S. market. This guide walks you through everything you need to know about which stock brokers accept ITIN, what the requirements are, and how to get started.

Quick Answer: Trading Stocks with an ITIN

Yes—in most cases you can buy U.S. stocks using an ITIN instead of an SSN. Many stock brokers that accept ITIN allow account opening, but acceptance varies by firm and account type. You’ll need to complete identity verification, provide tax documentation (typically Form W-8BEN for nonresidents), comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) rules, and file appropriate tax returns. The bottom line: ITIN-based investing is legal and practical, though you may face longer approval times and stricter documentation requirements than SSN holders.

What Is an ITIN and Who Uses It?

An Individual Taxpayer Identification Number is a nine-digit identifier issued by the Internal Revenue Service (IRS) to individuals who need to file U.S. taxes but don’t qualify for an SSN. ITINs always begin with the number 9. The primary purpose is tax reporting and compliance—not work authorization or Social Security eligibility.

Common ITIN holders include:

Nonresident aliens with U.S. tax obligations
International students in the U.S. on visas
Foreign nationals wanting to invest in American markets
Dependent family members and spouses unable to obtain an SSN
Immigrants in the process of obtaining residency or work authorization

For investors, an ITIN serves as your official U.S. taxpayer identifier. It’s recognized by the IRS and by virtually all brokerages for tax-reporting purposes, making it a legitimate pathway to stock market participation.

The Legal Landscape: Can You Invest with an ITIN?

U.S. law does not prohibit stock ownership or trading by ITIN holders. The regulatory framework supports it. Federal regulations require brokers to perform KYC and AML screening on all applicants, regardless of whether they use an SSN or ITIN. This means:

Brokers must verify your identity and residency
They must confirm the source of funds used to trade
They must report account activity and income to the IRS
They must apply appropriate tax withholding based on your residency status

As of early 2026, the IRS continues to recognize ITINs as valid taxpayer identifiers. Brokerages maintain published policies on ITIN acceptance, and many explicitly support ITIN accounts for taxable investing. However, acceptance does vary by firm—some impose stricter requirements or limitations on product types for ITIN holders.

Which Stock Brokers Accept ITIN?

The universe of stock brokers that accept ITIN is broader than many investors realize. Here’s what you’re likely to encounter:

Major full-service and discount brokers often accept ITINs for regular taxable brokerage accounts. These include large established firms that have invested in compliance systems to handle diverse client profiles. The tradeoff: they may request more extensive documentation or impose longer verification delays.

Online and retail brokers frequently support ITIN accounts for stocks and ETFs. Many prominent platforms have streamlined ITIN onboarding, especially those targeting international clients. Check each broker’s FAQ or help center for their specific policy—practices change, and some firms update their acceptance criteria.

International brokers operating U.S. market access may accept foreign tax IDs in place of an ITIN or SSN, giving you another avenue depending on your location and citizenship.

Newer fintech platforms vary in ITIN acceptance; some are flexible and others have tightened policies. Always confirm directly before applying.

Broker-specific limitations:

Some brokers accept ITINs for taxable accounts but not for retirement accounts (IRAs) or margin trading
Certain firms restrict extended-hours trading or advanced derivatives to SSN holders
A few still require an SSN for any account

Action step: Before applying, verify with your chosen broker that they accept ITINs, confirm which account types are available, and ask about required documentation. Most brokers publish this information on their website; if not, contact support directly.

Opening a Brokerage Account: Step-by-Step Process

If you’ve confirmed that your target broker accepts ITINs, here’s what to expect:

Prepare Your Documentation

Brokers typically request:

Your ITIN (or the IRS CP565 notification letter showing your ITIN issuance)
Government-issued photo ID (passport or national ID)
Proof of current address (utility bill, bank statement, lease agreement)
Your date of birth
Bank account information for funding and withdrawals
Completed tax certification forms (usually W-8BEN for nonresidents; W-9 if you’re a U.S. tax resident)

Have these ready before you start the application. This speeds up approval and reduces the chance of requests for additional documents.

Complete the Online Application

Most brokers offer remote account opening. You’ll provide personal information, answer questions about your investing experience and goals, confirm your funding source, and agree to terms and conditions. Many platforms now use e-signature for efficiency.

Undergo Identity and Compliance Verification

This is where ITIN applicants often encounter delays. Brokers conduct automated identity checks, manual review of documents, and may request additional items such as:

Notarized or certified copies of ID
Verification through Certifying Acceptance Agents (CAAs)
Video or voice verification calls
Confirmation of residency status

The review process is thorough because brokers must satisfy regulatory requirements. Expect 5–15 business days in many cases, sometimes longer if your application requires manual investigation.

Fund Your Account

Once approved, you can fund your account via:

ACH transfer from a U.S. bank account (typically free; 1–3 business days)
Domestic or international wire transfer (faster but may incur fees)
Check by mail (slower; includes processing time)

Non-U.S. residents often use international wires, which may carry fees of $15–50 depending on the broker and sending bank.

Start Trading

After funding, you can place trades in stocks, ETFs, and other approved securities. Start small if you’re new to the broker’s platform, confirm commission structures (most offer commission-free equity trading), and understand any restrictions on your account type.

Account Types Available with an ITIN

Standard Taxable Brokerage Account

This is the most commonly available option. You can buy and hold U.S. stocks, ETFs, mutual funds, and other securities. Income and capital gains are taxable annually.

Individual Retirement Accounts (IRAs)

Many brokers permit Traditional or Roth IRAs using an ITIN, but eligibility and documentation requirements vary. You typically must:

Have eligible earned income or meet other IRA qualification criteria
Provide additional tax documentation
Understand that contribution limits may differ for nonresidents

Confirm with your broker whether IRAs are available and what extra steps are needed.

Custodial Accounts

Some brokers allow custodial accounts for minors or dependents if a parent or guardian has an ITIN or SSN.

Limited or Unavailable Options

Employer retirement plans (401k, 403b): usually not available to ITIN holders unless sponsored by your employer
Margin accounts: some brokers restrict margin trading to SSN holders
Options and advanced products: availability varies; inquire with your broker

Funding and Trading: Practical Details

Funding Methods and Fees

ACH transfers from U.S. bank accounts are the cheapest option and the most common for residents. No fee; settlement typically 1–3 business days.

International wire transfers are standard for non-U.S. residents. Expect to pay $15–50 in wire fees, and budget 2–5 business days for settlement. Receiving banks may also deduct intermediary fees.

Checks by mail work but are slow (7–14+ days including postal delay and processing).

Some brokers accept PayPal or other digital payment methods; policies vary.

Fractional Shares and Trading Options

Many retail brokers now support fractional share purchases, allowing you to buy partial ownership of higher-priced stocks with smaller amounts of capital. This feature is often available to ITIN account holders, though it depends on your broker.

Commission Structure

Most major brokers offer commission-free trading on U.S. stocks and ETFs. Verify the fee schedule before opening an account; some firms charge per-trade fees, per-share rates for options, or subscription fees for premium services.

Managing Multiple Currencies

If you’re funding from abroad, consider exchange rates. Some brokers offer favorable currency conversion; others don’t. This can meaningfully affect your net purchasing power.

Tax Implications for ITIN Investors

This is critical: an ITIN is fundamentally a tax identification number. Having one means you must comply with U.S. tax law.

Your Tax Status Determines Your Obligations

U.S. tax residents (including resident aliens meeting the substantial presence test) are taxed on worldwide income. You report capital gains, dividends, and other investment income on Form 1040 and pay tax at regular rates.

Nonresident aliens are taxed only on U.S.-source investment income. Capital gains from stocks may not be subject to U.S. tax if the gain is not tied to U.S. property or business. Dividends paid to nonresident shareholders are generally subject to U.S. withholding tax (typically 30% unless a tax treaty applies).

Required Tax Forms and Withholding

Form W-9 is used if you’re treated as a U.S. person for tax purposes. This certifies your taxpayer status. If your broker requests a W-9, provide accurate information.

Form W-8BEN is the form most nonresident investors complete. It certifies your foreign status and allows you to claim lower withholding rates if your country has a tax treaty with the U.S. Without a W-8BEN, you face 30% withholding on dividends; with one, the rate may drop to 0%, 10%, or 15% depending on the treaty.

Default withholding on U.S.-source dividends to nonresidents is 30% unless you file Form W-8BEN and qualify for treaty relief. Your broker applies withholding automatically at distribution time.

Filing a U.S. Tax Return

You may need to file:

Form 1040NR if you’re a nonresident alien with U.S. tax liability
Form 1040 if you’re a resident alien or have other U.S. tax obligations

You file to:

Report income and capital gains
Claim refunds of over-withheld taxes
Claim treaty benefits and reductions in withholding

Filing is typically required if you have U.S.-source income above certain thresholds. Consult a tax professional to confirm your filing obligation based on your personal situation.

Claiming Treaty Benefits

If your country has a tax treaty with the U.S., you may qualify for lower or zero withholding on dividends and capital gains. To claim treaty benefits:

File Form W-8BEN with your broker, stating your country and treaty claim
Retain documentation of your residency (passport, tax return from home country, lease, etc.)
Keep records for IRS audit purposes

Treaty benefits aren’t automatic; you must proactively claim them.

Practical Risks and Limitations

Account Approval Delays

ITIN applicants often face longer verification times (7–21 business days or more) compared to SSN holders. Some brokers perform additional due diligence. Plan ahead if you have a time-sensitive investment goal.

Product and Feature Restrictions

Not all brokers offer identical features to ITIN holders. You may encounter:

No access to margin accounts or extended trading hours
Limited international wire options or higher fees
Restricted trading in certain securities or options strategies

Always review your specific broker’s terms.

Higher Wire Transfer Fees

International wires incur fees and currency conversion costs. If you’re funding from abroad repeatedly, these expenses accumulate.

ITIN Does Not Grant Other Rights

Your ITIN is strictly a tax identifier. It does not:

Authorize you to work in the U.S.
Confer residency or visa status
Make you eligible for Social Security benefits
Provide health insurance or other government services

Don’t confuse ITIN with immigration status.

Security and Compliance Expectations

Some brokers may request notarized documents or certification by Certifying Acceptance Agents. Be prepared for robust identity verification—it’s a normal part of compliance, not a red flag.

Alternatives to ITIN-Based Investing

If ITIN investing doesn’t suit your situation, consider:

Business or trust accounts using an EIN (Employer Identification Number) if you’re a business owner, freelancer, or trustee. This separates business and personal trading.

Opening accounts with non-U.S. brokers that provide U.S. market access and accept a foreign tax ID. This is common for residents of certain countries. Check whether the broker is regulated and offers the service you need.

Obtaining an SSN if you become eligible through employment, residency, or other circumstances. An SSN may unlock products and services not available to ITIN holders, though it typically takes time to secure.

Investing through a U.S. person (family member, spouse, trustee) if permitted by your broker and acceptable for your financial situation.

Frequently Asked Questions

Q: Do I absolutely need an SSN to trade stocks in the U.S.? A: No. Many stock brokers that accept ITIN allow you to open taxable accounts without an SSN. Certain products (retirement plans, margin accounts) may require an SSN, but basic stock investing does not.

Q: Can I open an IRA with an ITIN? A: Often yes, depending on the broker and your eligibility. Many brokers support Traditional and Roth IRAs for ITIN holders, but you may need to provide extra documentation proving eligible income or residency. Confirm with your chosen broker.

Q: Will I pay taxes if I invest in U.S. stocks as an ITIN holder? A: Yes. You must comply with U.S. tax rules. How much you owe depends on your residency status for tax purposes, the type of income (dividends vs. capital gains), and whether you qualify for treaty benefits. Investment income is typically subject to withholding and annual reporting.

Q: As a nonresident, what form should I file with my broker? A: Most nonresident investors complete Form W-8BEN to certify foreign status and claim treaty benefits. This reduces or eliminates withholding on dividends. Some brokers may request additional documentation.

Q: How long does approval take for ITIN accounts? A: Simple online applications with complete documentation may be approved in 3–5 business days. More commonly, expect 7–15 business days due to additional compliance checks. Complex cases or missing documents can extend approval to 3–4 weeks.

Q: Can I trade stocks as an undocumented person using an ITIN? A: You can open and trade if you have a valid ITIN and meet the broker’s KYC/AML requirements. However, your specific immigration status and tax obligations are separate legal matters. Consult with an immigration attorney and tax professional before proceeding.

Q: What if a broker rejects my ITIN application? A: Rejections happen. Possible reasons include incomplete documentation, concerns about the source of funds, or a mismatch between your ITIN and other identifiers. Ask the broker for the specific reason, gather any missing documents, and try another broker. Some firms are more flexible than others.

Getting Started: Your Next Steps

Ready to invest? Here’s your action plan:

Verify broker acceptance: Contact 2–3 brokers that are known to accept ITINs and confirm their current policy, required documents, and available account types.
Gather documentation: Collect your ITIN notification letter (CP565), passport or government ID, proof of address, and bank account information.
Prepare tax forms: If you’re a nonresident investor, have a blank Form W-8BEN ready. If you’re a U.S. tax resident, have Form W-9 available. Your broker will provide the correct form during application.
Understand your tax situation: Consult a tax professional to confirm whether you’re a U.S. tax resident or nonresident, what filing obligations you have, and whether you qualify for tax treaty benefits.
Start with a single account: Begin with one broker and one account type (typically a taxable brokerage account) to understand the process. You can add accounts or brokers later.
Research your broker’s fees and terms: Confirm commission rates, wire transfer fees, and any account minimums before you fund.
Fund strategically: If you’re international, compare wire transfer costs and currency conversion rates across brokers before choosing your funding method.

Final note: This guide is informational only and not investment or tax advice. Stock investing carries risk, and tax laws are complex and jurisdiction-specific. Before opening an account or making investment decisions, verify the broker’s current policies, confirm your tax obligations with a qualified tax professional, and ensure your investment strategy aligns with your financial goals and risk tolerance.