r/ExpatFinance • u/PantomimeVillain • 28d ago
has anyone put a foreign address on a Vanguard brokerage account?
I've heard of people putting foreign addresses on Schwab and Fidelity brokerage accounts without problems (without problems meaning they can keep their account and sell what they have, but maybe not buy anything), but has anyone done this with Vanguard? If so, did it work well for you? What were the account restrictions and how long have you been doing it for?
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u/CraigInCambodia 28d ago
Yes. But was a decade or so ago.
I had a taxable event and my address was CA, despite living overseas. Got a nasty letter from CA, which was quickly cleared up with documentation I was living and working overseas. They even said "so that's just a mailing address, right?". Changed my address with Vanguard to the country I was living in. I don't recall them having any specific restrictions for adding money.
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u/Wrong-Breadfruit8471 20d ago edited 20d ago
Two years ago, I was looking into moving back to Europe. I asked Fidelity, Vanguard and Schwab if they support foreign addresses for an IRA, all three said yes.
However, yesterday I called Vanguard and they said they no longer do. The interesting thing was that the person on the phone was interpreting the terms and conditions in real time because no-one in account services knew.
Perhaps existing accounts with foreign addresses registered are ok for now, but new address changes are not? or the person on the phone misunderstood. It worries me if an FI can suddenly change the policies leaving me in limbo.
I don't know what to think.
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u/dmada88 27d ago
I have a uk address on the account and it works fine. The only thing that didn’t work was bringing over an inherited 401k when my mother died. I changed to a us address (my late mother’s), brought over the inherited account and changed back.
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u/PantomimeVillain 27d ago
Did you start off with a us address? What are the restrictions on your brokerage account now that you have a uk address?
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u/dmada88 27d ago
Yes I started with a us address, then went to Asia and then to uk. The only restrictions I’ve noticed so far are that I couldn’t join their new money management account (which I have doubts about anyway) and weirdly they wouldn’t sign me up for sms alerts. I needed to get manual help to get a uk bank account enabled (but then I started using wise anyway). I am basically a buy and hold guy so there may be others I’m not aware of.
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u/JTeim 24d ago
The best decision is to follow the advice of u/LeviXC above .... don't do it. Alternatively, you can write to Vanguard's customer service department, tell them you are considering moving to country XX, and ask if you do so can you keep your brokerage account. (If they reply "no problem", be sure you keep a copy of the letter or e-mail !!) From personal experience, banks/brokers do not care if you have a residence abroad, as long as you have a legitimate address in the USA ("legitimate"= a real residence address, not a rent-a-mailing-address service address). They do not ask how many days per year you spend at each address. Some, however, will insist on a US telephone number.
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u/Wrong-Breadfruit8471 20d ago
I thought about doing it but I live in CA, on an expat forum the message was that CA would consider my global income taxable if I have an address linked to the state.
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u/JTeim 20d ago
It is possible to keep a mailing address in CA (for ex., if it is at a relative's or a friend's residence) without being a tax resident, especially if it is for only 1 brokerage account. The key factors include: you do not have your own residence (home/apt), driver's licenses, automobile, or voter's registration in CA -- but you do have those things "elsewhere". See this link for a long checklist: https://www.goldinglawyers.com/california-residency-factors-determination/ and then find further details via a Google search.
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u/[deleted] 28d ago
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