I am an expat American and have not paid US taxes in over 20 yrs. I wrote to TD Ameritrade explaining that I do not wish to destroy my tax-free status by one investment slip-up, so I inquired whether investing in Nasdaq stocks would reactivate my taxable status with the IRS, or whether my being physically absent the required length of time - would make the investment a moot point. My newly acquired investors' homepage - which they give one prior to having received any funds (?) informed me that they answer questions within 1 working day, so even though this is Day 2, I will remain patient. One day can be a long time when one has some intuitive compulsions re: a few ticker symbols.
It is very ironic that TD Ameritrade allows an Expat to register - but later, informs him or her that a US intermediary bank is required in order to remit funds! Catch 22! Not all expat-Americans have an account with a US bank. I wrote back to TD Ameritrade and complained that they should not save that bit of important info till AFTER an expat registers with them. Figuring that as with most large institutions (the proverbial one day wait for a reply would turn into a week - while my dream stocks "and blood pressure" shot through the roof) I attempted to bypass the Catch 22 and began filling out an application with TD Waterhouse. After getting to the last part of their application process - the website informed me that "people from your country cannot register with TD Waterhouse!
So, it is no wonder why more and more affluent and not so affluent Americans are now trading in their American passports for the kind of freedom that America no longer offers!
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