RetireJapan

Hello,

Don't know if this exactly fits here, but please allow me the benefit of the doubt. This will be somewhat longish - my apologies but need to give some background.
I'm a U.S. citizen here in Japan who moved my accounts onshore back to the U.S. several years ago. Re-did taxes, paid a small fine, caught up with current taxes, FACTA, etc., and have religiously been filing since. I'm above board on things as best as I can see. When I moved my account back Stateside, I found a broker in Tokyo who was able to set up an account through Raymond James in the U.S. But one hitch was that I couldn't set it up in a way that enabled me to continue contributing to what I already had there. The fund I have had has performed quite well, so I have not lost money - just not been able to add to it directly from here.
My broker has now set up a new scheme that would enable me to contribute directly from here, and transfer what I have in the RJ account to it - but another hitch is that I need a U.S. address as a reference - either a business address or a residential address. I no longer have an address of my own in the States anywhere, and I was told that I could use a family member or friend's address instead, with their permission. I have been told that their name does not need to be on it and that they have no liability on their end.
The thing is, I'm not altogether comfortable with asking someone for the use of their address. I have little family left in the U.S save for my sister - and we're not so close and I can't rely on her for much. I have since asked a close friend of mine who is willing to do it but wants to check with a broker on his end - which I've encouraged him to do. Having said that, I've told him that if I can work around the issue of the address I would.
So I'm asking here - does anyone here know of an alternative to this? I feel my broker in Tokyo has been fairly straight-up, so I don't suspect anything untoward. But if there is a plan that anyone knows of that would enable me to contribute directly to an account in the U.S. around the issue of a Stateside address, I'm all ears.

You should be able to open an Interactive Brokers account as a Japanese resident. Some other brokers also allow this.

Misrepresenting your US address could result in you being deemed resident for state tax purposes, etc.

curious wrote: ↑Tue Aug 10, 2021 3:07 am...The fund I have had has performed quite well, so I have not lost money - just not been able to add to it directly from here. ...

If the fund is a mutual fund, then of course--people who are not US residents are not supposed to be sold mutual funds (even if you are a US citizen). It's not really illegal, but it'll be a nasty compliance problem for your broker (if anyone concludes that you'e not a US resident). If you do use this back door method of someone's US address, and they discover that, be ready to have them close your account rather quickly.

That said, for most any mutual fund there is almost always some ETF that is virtually the same thing--and this is what you should be looking for.

I'd add a vote for opening an IB account. The gray area of using a US address is..., well, a gray area. Technically, there is probably something in the terms and conditions you sign off on that makes this a no-no.

RetireJapan wrote: ↑Tue Aug 10, 2021 3:17 am You should be able to open an Interactive Brokers account as a Japanese resident. Some other brokers also allow this.

Misrepresenting your US address could result in you being deemed resident for state tax purposes, etc.

I didn't think of this, but come to think of it in relation to the use of a U.S. address, then it makes perfect sense that I would open myself up to state tax issues.

This helps a lot. Now - both as a few further questions for you and a shout-out to anyone else familiar with IB - I've checked their website. I'll navigate around in it some more, but as some "duh" sort-of things to ask - do they have brokers working for them? Or can you go to a broker here (in my case, in Tokyo) and ask them to work with IB? Do you open your own account with them and they assign you a broker? Or can I ask a broker here to open an account for me? And are there any hitches with an IB account?

Thanks in advance once again!