UK spouse an US bank account?

My UK spouse is now getting SS payments based on my earnings as a US citizen. He's never lived or worked in the US. My SS goes into my US account but we were told he can't be on the account with me. Any way he can open a US account so he won't lose out in the exchange rate? Looks like HSBC might have an option?

Why complicate it? When SS is deposited into a UK bank account, it goes in without fees and at the best exchange rate. Over the course of a year, you won't really 'lose out' - if it's deposited in a US bank account, any transfers to the UK will need to be done from the US, will involve fees, and you're still at the mercy of the exchange rate in effect at the time of transfer.

Our SS goes into our UK account promptly on the 3rd of each month. Some months it's a little more, some months a little less, but over a year, there's not much 'gain' or 'loss'. Plus, it makes it far easier to file the UK self assessment, which no need to figure out exchange rates.

Thanks, but the money would not be transferred back to the UK.  We spend a month in the US every year.

My SS goes into my US account which I mainly spend over there on visits or ordering gifts online in the US for family and grandkids. I do most of my clothes shopping over there as well. Also used my US debit card on a recent trip to Thailand.

I wondered why my letter said we'd be paid on the 3rd.  Guess it's all the same for overseas residents.

I understand why you want to leave the money in the US for personal expenditure. You are aware that your US Social Security is taxable in the UK under the tax treaty, not the US.

If your spouse is not a US citizen or green card holder and therefore not liable to file a US tax return, it still makes little sense to have that payment deposited to a US bank account, IMHO.

Don't forget your spouse may owe UK tax at 20%, 40% or 45% on 90% of the pension. You may want to get the coding notice adjusted.

I understand why you want to leave the money in the US for personal expenditure. You are aware that your US Social Security is taxable in the UK under the tax treaty, not the US.

If your spouse is not a US citizen or green card holder and therefore not liable to file a US tax return, it still makes little sense to have that payment deposited to a US bank account, IMHO.

Yes, I know I don't claim it on my US taxes.  The amount though will be too low to pay taxes on it in the UK.

It would be good to keep in in dollars as we know exactly what we are getting each month.

Don't forget your spouse may owe UK tax at 20%, 40% or 45% on 90% of the pension. You may want to get the coding notice adjusted.

He's in the 40% bracket.  I'm guessing the UK tax office will send him a letter once the US notifies them.

The SSA won't send a notice to HMRC - your spouse will report the income on foreign pages of the self assessment form.

As I understand it, you will also have to file a SA to declare the social security and any other foreign income (including interest, if any) along with any income from the UK even if your income is below the personal allowance amount.

The SSA won't send a notice to HMRC - your spouse will report the income on foreign pages of the self assessment form.

As I understand it, you will also have to file a SA to declare the social security and any other foreign income (including interest, if any) along with any income from the UK even if your income is below the personal allowance amount.

Thanks!  This stuff does my head in!

I don't understand why your bank won't let your husband be on your account. If they are saying that he needs a US social security number that is completely wrong. A lot of Bank employees don't actually know their own rules, but you should be able to add him using a unique identifier such as his UK passport number.

I don't understand why your bank won't let your husband be on your account. If they are saying that he needs a US social security number that is completely wrong. A lot of Bank employees don't actually know their own rules, but you should be able to add him using a unique identifier such as his UK passport number.

It's not a bank it's a brokerage account I inherited.  When I got the account in 2007 I was told he could not be on the account because he's foreign.  I could not even name him as beneficiary on the account.

Oh I see. I don't have any knowledge of brokerage accounts but, if you haven't already done so it might benefit you to  question the administrators. In my experience a lot of employees don't actually know the rules.

Oh I see. I don't have any knowledge of brokerage accounts but, if you haven't already done so it might benefit you to  question the administrators. In my experience a lot of employees don't actually know the rules.

There is a cash/checking account along with the brokerage, so basically a bank account as well.  The broker we spoke to knows his stuff.  I've messaged them and asked again about putting dh on account and they said the only thing I could do was open an international account.  Not an option. 

Finally got dh to agree he won't be losing out to keep it in pounds.  He really just wanted his own funds when we travel around the US instead of getting some from me.

We have an account with Citibank and my (non-citizen, non-green-card) UK spouse is a joint account holder.

Our local fed'l credit union requires a SS number for an acct (& also to be named as a beneficiary).  However, US Bank doesn't require a SS number so we have a small joint checking acct there (I'm a USC & dh is UKC).