Hold a joint Fidelity account with a non-US resident

[szcyxzh]

I have an existing Fidelity brokage account and I am a US resident. I want to change the ownership to joint account with myself and another person who is non-US resident. After this change, do I have to pay for US tax, if the money stays in the Fidelity account and moves to the bank account of the non-US resident? 

As a side note, my US tax code are subject to MTM accounting rule. I will no longer use this account for trading after I complet the ownership change to joint account.

Thank you in advance.

[ShirlynW]

There are several factors to consider when setting up a joint account.  I suggest speaking with an experienced tax attorney about the current laws and your options. 

[pk]

@szcyxzh , agreeing with @ShirlynW , suggest you consult a tax attorney familiar with international taxation --- this is because by this change you are transferring  ownership from US person to a Non-Resident Alien and to a foreign bank ------ it could be a gift or could be payment for something  and may come under money laundering --- please consult a lawyer.