Need Help! U.s. Brokerage

[OnMyWay]

I have my retirement funds at Fidelity in the U.S.  Today I received a letter telling me they could no longer service my accounts because I live in the Philippines, as of July 1st.

 

They have a US mailing address for me (my sister's in California) but I changed my official address to the Philippines.  I did this last year because I heard that California likes to grab state income tax from anyone they can.

 

Ironically, Fidelity helped me change my address last year and no mention was made of any issues.  I won't vent my frustration with Fidelity right now.

 

Do any US expats here have brokerage accounts at firms that are not concerned if you have a Philippines address?

 

Does this have something to do with new reporting requirements of the government?  I read something about this either here or on a financial website.

[jon1]

I have my retirement funds at Fidelity in the U.S.  Today I received a letter telling me they could no longer service my accounts because I live in the Philippines, as of July 1st.

 

They have a US mailing address for me (my sister's in California) but I changed my official address to the Philippines.  I did this last year because I heard that California likes to grab state income tax from anyone they can.

 

Ironically, Fidelity helped me change my address last year and no mention was made of any issues.  I won't vent my frustration with Fidelity right now.

 

Do any US expats here have brokerage accounts at firms that are not concerned if you have a Philippines address?

 

Does this have something to do with new reporting requirements of the government?  I read something about this either here or on a financial website.

OnMyWay,

 

I was using TDAmeritrade over the last few years with an FPO address. They even sent my tax forms (1099) for last year to my RAO mailing address. So unless something has recently changed you could try them. It took me a little bit to set up. They deposit less than a $ into your bank account that you will be transferring money to/from your TDAmeritrade account that you have to acknowledge on their site to validate the process.

 

Jon

[OnMyWay]

 

I have my retirement funds at Fidelity in the U.S.  Today I received a letter telling me they could no longer service my accounts because I live in the Philippines, as of July 1st.

 

They have a US mailing address for me (my sister's in California) but I changed my official address to the Philippines.  I did this last year because I heard that California likes to grab state income tax from anyone they can.

 

Ironically, Fidelity helped me change my address last year and no mention was made of any issues.  I won't vent my frustration with Fidelity right now.

 

Do any US expats here have brokerage accounts at firms that are not concerned if you have a Philippines address?

 

Does this have something to do with new reporting requirements of the government?  I read something about this either here or on a financial website.

OnMyWay,

 

I was using TDAmeritrade over the last few years with an FPO address. They even sent my tax forms (1099) for last year to my RAO mailing address. So unless something has recently changed you could try them. It took me a little bit to set up. They deposit less than a $ into your bank account that you will be transferring money to/from your TDAmeritrade account that you have to acknowledge on their site to validate the process.

 

Jon

 

 

Thanks Jon!

 

I spend a lot of time on M* and two past recommendations there have been Schwab and E-trade.  I will add TDA to my short list.

[earthdome]

I have my retirement funds at Fidelity in the U.S.  Today I received a letter telling me they could no longer service my accounts because I live in the Philippines, as of July 1st.

 

They have a US mailing address for me (my sister's in California) but I changed my official address to the Philippines.  I did this last year because I heard that California likes to grab state income tax from anyone they can.

 

Ironically, Fidelity helped me change my address last year and no mention was made of any issues.  I won't vent my frustration with Fidelity right now.

 

Do any US expats here have brokerage accounts at firms that are not concerned if you have a Philippines address?

 

Does this have something to do with new reporting requirements of the government?  I read something about this either here or on a financial website.

 

I would recommend getting an address with a mail forwarding service like travelingmailbox.com, get an address in Florida which has no state income taxes, then change your financial mailing addresses to that address. Then change your official US address to Florida. Problem solved.

[MikeB]

Thanks for the heads up on Fidelity, definitely won't be informing them - or any bank/brokerage. I was hoping to eventually get rid of the mail-forwarding, guess not. The US street address is just one of the many hidden costs. Just paid more then $50 to have a credit card forwarded via FedEx International.

[Call me bubba]

I have my retirement funds at Fidelity in the U.S.

Today I received a letter telling me they could no longer service my accounts because I live in the Philippines, as of July 1st.

 

 

consider or at least look at USAA.

. they offer many services & understand if you dont live in the USA proper(conus)

 

https://www.usaa.com/inet/pages/investments_main_page?wa_ref=pub_global_products_invest

 

they may not be in the TOP 20 or fancy adverts yet over the years they have done well compared to others,

 

i dont have funds invested w/them now,when i did many years ago, i was satisfied. 

 

[OnMyWay]

 

I have my retirement funds at Fidelity in the U.S.

Today I received a letter telling me they could no longer service my accounts because I live in the Philippines, as of July 1st.

 

 

consider or at least look at USAA.

. they offer many services & understand if you dont live in the USA proper(conus)

 

https://www.usaa.com/inet/pages/investments_main_page?wa_ref=pub_global_products_invest

 

they may not be in the TOP 20 or fancy adverts yet over the years they have done well compared to others,

 

i dont have funds invested w/them now,when i did many years ago, i was satisfied. 

 

 

 

Thanks!  I had been thinking about USAA before I moved and now I will revisit.

[OnMyWay]

 

 

I have my retirement funds at Fidelity in the U.S.

Today I received a letter telling me they could no longer service my accounts because I live in the Philippines, as of July 1st.

 

 

consider or at least look at USAA.

. they offer many services & understand if you dont live in the USA proper(conus)

 

https://www.usaa.com/inet/pages/investments_main_page?wa_ref=pub_global_products_invest

 

they may not be in the TOP 20 or fancy adverts yet over the years they have done well compared to others,

 

i dont have funds invested w/them now,when i did many years ago, i was satisfied. 

 

 

 

Thanks!  I had been thinking about USAA before I moved and now I will revisit.

 

 

Does anyone here have current investment experience with USAA?

[samatm]

Thanks for the heads up on Fidelity, definitely won't be informing them - or any bank/brokerage. I was hoping to eventually get rid of the mail-forwarding, guess not. The US street address is just one of the many hidden costs. Just paid more then $50 to have a credit card forwarded via FedEx International.

 

I always ask the Credit Card issuing bank to send my credit card to me.   They.. do for free.    I keep my USA texas address as permanent address.   Never have i paid for my own credit card to mailed to me.      In fact for security sake they alway FedEx the card.  

[MikeB]

I always ask the Credit Card issuing bank to send my credit card to me.   They.. do for free.    I keep my USA texas address as permanent address.   Never have i paid for my own credit card to mailed to me.      In fact for security sake they alway FedEx the card.

Yea, I'll probably do that next time. But I don't know that ALL credit card companies will send a replacement card overseas for free unless it's replacement for fraud. My US address is in FL. When I communicate with financial institutions I always say "I'm currently in the Philippines", not I've moved.