ITIN Renewal: Common Questions and Answers If you have an Individual Taxpayer Identification Number ITIN! , it's important to know when it needs to be renewed and how to go about the process. Here are some common questions and answers about ITIN renewal.
When Does My ITIN Expire? ITINs issued before 2013 have already expired, and ITINs issued between 2013 and 2016 will expire on a staggered schedule over the next few years. ITINs issued after 2016 will expire after five years of non-use.
How Do I Renew My ITIN? To renew your ITIN, you will need to fill out Form W-7, Application for IRS Individual Taxpayer Identification Number, and submit it to the IRS. In addition, you will need to provide current documentation to prove your identity and foreign status. This can include a passport or national identification card.
Can I Renew My ITIN Early? Yes, you can renew your ITIN early if it is set to expire soon or if you anticipate needing it in the near future. It's recommended that you renew your ITIN at least 45 days before you need to file your tax return to ensure that you receive your renewed ITIN in time.
What Happens if My ITIN Expires and I Need to File Taxes? If your ITIN has expired and you need to file taxes, you will need to renew your ITIN before filing. If you don't renew your ITIN, your tax return will be rejected by the IRS and any tax refunds you are owed will be delayed.
Can I Renew My Dependents' ITINs at the Same Time? Yes, you can renew your dependents' ITINs at the same time as your own. You will need to fill out separate Form W-7s for each dependent and provide the necessary supporting documentation.
In conclusion, ITIN renewal is an important process that should not be overlooked. By understanding when your ITIN expires, how to renew it, and the consequences of not renewing it, you can ensure that you are able to file taxes and access other financial benefits in the United States.