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Old 02-08-2010, 01:11 PM
 
Location: Pasadena
1,285 posts, read 1,795,741 times
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Offshore accounts will require lots of documentation to open including passport, etc. When I opened a foreign bank account it required more documentation than opening a US account. But then again I wasn't particularly concerned with protecting an identity. That said, I know of no one that has been able to open up foreign bank accounts without loads of documentation that may include things like reference letters, etc.

The closest thing I can think of is open an LLC in a state that doesn't require a SSN to start a company and get a EIN from the LLC and use the EIN to open an investment account. But I think that may not even work now with a lot of the regulations that the investment industry uses. And that's not exactly anonymous.

The thing about investment accounts is you can't just send in cash. You have to get the money into the banking system which is going to make it very difficult to maintain any kind of discretion. The securities industry has immense amount of regulations and they can file a suspicious activity report if they want which could cause further investigation if they think you are doing something sketchy or illegal.

Generally if people want to hide assets like this it's often not to evade taxes but rather to hide assets in the event of things like divorce, etc. The tax organizations are well into any kind of tricks that people will use.
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Old 02-08-2010, 02:28 PM
 
20,798 posts, read 31,338,303 times
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You won't be able to buy any investment with cash or without a social security number, period. Even buying gold and other securities will require ID--mainly due to money laundering laws and for people that are trying to avoid paying taxes .
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Old 02-08-2010, 02:37 PM
 
13,775 posts, read 25,160,968 times
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Quote:
Originally Posted by golfgal View Post
You won't be able to buy any investment with cash or without a social security number, period. Even buying gold and other securities will require ID--mainly due to money laundering laws and for people that are trying to avoid paying taxes .
I bought my nieces each a US gold coin for Christmas and was never asked for any identification... the coin shop would only accept cash or check with a hold till the check clears.

Managed rental apartments since 1982 and some of the tenants receiving Section 8 rent subsidies, AFDC and General Assistance have never filed a tax return... ever. These are people in their 20's or 30's with children and have never experienced withholding or filing tax returns... may not be a lot of them... but, they are out there.
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Old 02-08-2010, 02:58 PM
 
Location: Pasadena
1,285 posts, read 1,795,741 times
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Quote:
Originally Posted by golfgal View Post
You won't be able to buy any investment with cash or without a social security number, period. Even buying gold and other securities will require ID--mainly due to money laundering laws and for people that are trying to avoid paying taxes .
You can do a lot pretty anonymously. You can open a New Mexico LLC without a name or social security number, and purchase assets such as cars and real estate under the LLC without any mention of your name or personal identification. With an LLC you should be able to open a business bank account with under the LLC. Even if you can't open a bank account many assets can be purchased on the LLC. The patriot act might make it difficult to accomplish this I really have no idea as I have no experience in doing this, but as a business owner, I understand the benefits of incorporation in different states for various reasons.

As long as you have cash, you should be able to buy a lot of types of assets such as cars, gold, real estate under the LLC without any mention of personal identity. LLCs can offer a lot of flexibility because the requirements and legislation of them are done at the state level and certain states have extremely friendly rules for starting LLCs depending on what your specific needs are. Certain states will have more favorable tax structures, corporate structures, disclosure requirements that can impact which state you register a company in.

The thing is I don't think any investment account, securities account will let you open an account to buy securities with an anonymous LLC and an EIN. They will require a social security number because of legislation like the patriot act. Regulations for investment/securities accounts will be much more stringent than a lot of other financial instruments.

There are a lot of ways to essentially live life anonymously and protect assets legally and legitimately.
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Old 02-08-2010, 03:24 PM
 
Location: Planet Eaarth
8,958 posts, read 7,973,880 times
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Quote:
Originally Posted by montanafreeman View Post
I don't use a social security number or file tax forms. I am looking for a way to invest with cash or other funds that can be kept private. Most investments that I have looked at require a SS number to open an account. Thank you.
Set up a "Self Directed Trust" and let the trust do all your investing.

Learn about Trusts here.......
http://en.wikipedia.org/wiki/United_States_trust_law

Last edited by Grandpa Pipes; 02-08-2010 at 03:33 PM..
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Old 02-08-2010, 04:26 PM
 
Location: Sacramento
2,395 posts, read 3,986,862 times
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Quote:
Originally Posted by Ultrarunner View Post
Managed rental apartments since 1982 and some of the tenants receiving Section 8 rent subsidies, AFDC and General Assistance have never filed a tax return... ever. These are people in their 20's or 30's with children and have never experienced withholding or filing tax returns... may not be a lot of them... but, they are out there.
Yeah people who live off the system do not pay taxes but they do use a SSN to qualify for benefits.
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Old 02-09-2010, 05:50 AM
 
20,798 posts, read 31,338,303 times
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Quote:
Originally Posted by Ultrarunner View Post
I bought my nieces each a US gold coin for Christmas and was never asked for any identification... the coin shop would only accept cash or check with a hold till the check clears.

Managed rental apartments since 1982 and some of the tenants receiving Section 8 rent subsidies, AFDC and General Assistance have never filed a tax return... ever. These are people in their 20's or 30's with children and have never experienced withholding or filing tax returns... may not be a lot of them... but, they are out there.
Buying a couple gold coins isn't "investing". Try buying a large number of them and see what the bank requires for documentation.
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Old 02-09-2010, 10:07 AM
 
9,807 posts, read 5,994,056 times
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Quote:
Originally Posted by suzie02 View Post
Yeah people who live off the system do not pay taxes but they do use a SSN to qualify for benefits.
bingo !
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Old 02-09-2010, 03:02 PM
 
13,775 posts, read 25,160,968 times
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Quote:
Originally Posted by golfgal View Post
Buying a couple gold coins isn't "investing". Try buying a large number of them and see what the bank requires for documentation.
Never thought of buying coins from a bank... I buy them directly from the US Mint of the local Coin Shop.
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Old 02-10-2010, 02:06 AM
 
1,336 posts, read 1,535,144 times
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A friend of a friend is buying Iraqi coins dirt cheap in hopes that when their economy kicks back up, he'll be a millionaire. Hop on it before it's too late!
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