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UK Bank Account & UK Address

UK Bank Account & UK Address

Old May 11th 2020, 7:24 pm
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Default UK Bank Account & UK Address

Hi all. Moved to New Jersey earlier this year and we have a UK house that we rent out.
I kept the Santander UK account from which the mortgage is taken and the rent is paid - basically an account for UK expenses whilst we are gone.
I haven't yet advised Santander of the move - and it looks painful to advise them we are living in the USA (go to branch, passport, form etc).
Is it easier and safer just to move the address in the UK to a Uk based relative and leave the account info sent there?
Thoughts please.
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Old May 12th 2020, 2:04 am
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Default Re: UK Bank Account & UK Address

Be careful of IRS implications. This will look as if you are trying to conceal the presence of a foreign account and income, which is not somewhere you want to go. Personally, I would just go ahead and change your address. All they should need is confirmation of identity and address in the form of a utility bill and one certified form of photo ID (usually a notarized copy of passport or driving license). Almost all UK banks will accept any US Notary Pubic certified copies of US passports and driving licences as well as UK ones. Just call them and tell them you are unable make it into a branch for obvious reasons. You wont be the first person to be in the same situation. If you have a problem with your branch (unlikely) just call their HQ. Be aware that they may change your mortgage rate if you are renting versus living in your home, some do and some don’t (and yes they will eventually find out if you do not tell them your are renting, it may take a while but they will get there).

Last edited by Glasgow Girl; May 12th 2020 at 2:07 am.
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Old May 13th 2020, 12:32 am
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Default Re: UK Bank Account & UK Address

I informed bank I was moving to USA and changed correspondence address to UK relative.

I don’t follow the comment about IRS implications, they won’t have any idea of where your mail is sent to. You will need to declare the rental income in the US if you are subject to US taxes, regardless of where your mail goes.
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Old May 13th 2020, 1:08 am
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Default Re: UK Bank Account & UK Address

I agree. The IRS wont care where your mail goes if you are declaring the income on your tax return, and the account on the appropriate FBAR and tax return forms. As stated, that must be done regardless of where the mail goes.

The original OP asked if it was easier and safer to change the address to a UK relative. In the short term it's not much harder to change it your real US address and cut out the long term hassle of going through a relative. All it takes is a quick trip to a Notary Public (all banks provide the service) to certify copies of your drivers license and passport and a letter to your bank. In my experience mail from the UK to the USA is typically only a couple of days longer than UK to UK and just as reliable, so perfectly safe. If you don’t declare the income or the account on the necessary tax forms that is when it looks like you are trying to conceal the account and income and the penalties for that are enormous. So in that scenario, no it is certainly not safer.


Last edited by Glasgow Girl; May 13th 2020 at 1:14 am.
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Old May 13th 2020, 2:50 pm
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Default Re: UK Bank Account & UK Address

Originally Posted by Glasgow Girl View Post
I agree. The IRS wont care where your mail goes if you are declaring the income on your tax return, and the account on the appropriate FBAR and tax return forms. As stated, that must be done regardless of where the mail goes.

The original OP asked if it was easier and safer to change the address to a UK relative. In the short term it's not much harder to change it your real US address and cut out the long term hassle of going through a relative. All it takes is a quick trip to a Notary Public (all banks provide the service) to certify copies of your drivers license and passport and a letter to your bank. In my experience mail from the UK to the USA is typically only a couple of days longer than UK to UK and just as reliable, so perfectly safe. If you don’t declare the income or the account on the necessary tax forms that is when it looks like you are trying to conceal the account and income and the penalties for that are enormous. So in that scenario, no it is certainly not safer.
You are not taking into account whether UK/EU institutions will allow people with a US connection to hold an account with them. I had no problem with my bank, they were not fazed by me being resident in the USA. However, other banks and building societies are being more careful since FATCA places more burdens on them, and the net result being that people with US addresses face having their UK account closed by the banks. So, as long as there is no intent to defraud, using a relative's address for a contact/mailing address is a legitimate option, especially if your move to the US is not a permanent one.

This article is about accidental Americans, but people with a confirmed US connection (ie a residential address) present the same issues for banks.

https://www.theguardian.com/business...ccounts-frozen
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Old May 14th 2020, 6:13 pm
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Default Re: UK Bank Account & UK Address

Could you not just go paperless (statements)?
https://www.santander.co.uk/personal...our-statements
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Old May 15th 2020, 8:47 pm
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Default Re: UK Bank Account & UK Address

We were not with Santander when we moved to the USA but our UK bank had no problem in having a US address. We had our UK house rented out for the first 6 years we lived in the USA. Rental income reported to the IRS on our IRS returns.
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