Do I, along with the other partners or members of the company, need to apply for an ITIN?

Yes! For non-resident foreigners, the Individual Taxpayer Identification Number (ITIN) serves as the official tax identification number in the United States.

The members/partners need the ITIN Number to do their Individual Income Tax. If you have an LLC, each member must report their share of the LLC's income, deductions, and credits on their Individual Tax Return. The ITIN is unique for each person! This means each partner will need one.

The ITIN does not give you any benefit or permission, but it can be useful for bank application processes and registering at financial entities or marketplaces. 

 

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