[philiphodgen]

@HalfPriceDigi, don't forget to prepare and file Form 5471 for your UK company. Screw that up and it is an automatic $10,000 penalty.

(Disclosure: international tax lawyer; have fought this battle with the IRS before).

And yes. The banking problem is the hard problem to solve.

In both directions. U.S. banks can be giant poopy-heads. Bank of America just closed the account of a foreign client of mine who had banked with them for 33 (!) years. "We don't have to give you a reason, and we are sending you a check for your money." The second such client to experience this. Both are moving to Citibank, for what that's worth to you.

[HalfPriceDigi]

Thanks philiphodgen, I did not know about form 5471 and I've formed a few startup companies in the UK already - yikes! I should probably talk to a good, low-cost international tax lawyer...if you know of any... admin[at]halfpricedigital.co.uk

[conformal]

it's ridiculous that banks can just close your account without giving any explanation. i have had this happen a couple times and it's very irritating.

while i can appreciate that any business can choose to not do business with any 3rd party for whatever reason, the inability to bank can be crippling, especially if you get blacklisted by chexsystems et al.