The ITIN Number
What is an ITIN Number, Why do I need one and Where do I get it?
If you are not a US citizen you will need to get an ITIN# if you buy a vacation home rental property and intend to rent it.
Owning a short term rental property is a little bit like owning a small hotel, as a “small business owner” you will be required to file annual income tax returns. It is a relatively easy process but one which requires you to have an ITIN number (individual Tax Identification Number). Every foreign owner of a short term rental property needs to have one.
Who handles that service?
It’s a process that can be handled by a international tax specialist for a nominal fee and it is something that we can set up for you as part of our service in getting you prepared for your rental program.
What is needed?
There is one important document in particular needed to be able to get your ITIN # either your passport or a certified copy of the picture page of your passport(s), the IRS requires this to process your ITIN application.
They may also accept an original picture drivers license and your birth certificate if you would prefer to have that sent with your application. Depending on your nationality there are several ways to go about this. If you are British the simplest way to get this done is to visit the British Consulate in Orlando and have them certify a copy of your passport picture page. It’s a process that takes about an hour and is very easy.
We can have an appointment scheduled for you while you are here through our tax accountant associates. You cannot have it certified it in a UK passport office. If you are not in the US you will either need to travel to a consulate outside the UK such as France or Ireland or you can send your original passport or the picture drivers license / birth certificate combination – so getting it taken care of while you are here is easily the best option.
Another option for UK residents would be to travel to the US Embassy in London where they can apply for an ITIN# directly. Our tax advisers can set you up with all the paperwork to take along to do this.
Canadians can get a certified copy of their picture page of their passport we believe via their passport office in Canada and each other nationality will have to contact either their own national passport office or a consulate / embassy in the US.
We’d be delighted to give you comprehensive and detailed answers to all of your questions regarding the ITIN#
For more information on buying, management and rental potential of an Orlando vacation home, please contact us directly online via our support page or call us directly at 407.286.8170
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