Do I need to file 1040-NR?

Forum|Forum|2 years ago
March 1, 2024
1 reply
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I am a South Korean citizen, living in South Korea.

The last time I was in the US with a visa was in 2021 as an F-1 student. (In 2023, I was in the US for a week or so with ESTA.)

Would I be considered a non-resident alien?

I have a savings account in the US and received 1099-INT but have no other income to report.

Do I need to file 1040-NR?

Looking at the IRS website, it sounds like interest income from savings account is nontaxable for nonresident aliens?

Not A Product Question

AmyC

Level 15

Correct. The IRS states in Nontaxable Types of Interest Income for Nonresident Aliens: Nonresident aliens (NRAs) are not taxed on certain kinds of interest income, including but not limited to certain portfolio interest and deposit interest, that is not effectively connected with a U.S. trade or business per Internal Revenue Code subsections 871 (h) and (i), respectively, provided that such interest income arises from one of the following sources:

A U.S. bank
A U.S. savings and loan association
A U.S. credit union
A U.S. insurance company
Portfolio Interest (Described in “3. Exclusions From Gross Income" – “Nonresident Aliens” - "Interest Income" and its subsection "Portfolio interest" of Publication 519, U.S. Tax Guide for Aliens)

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