US LLC for Founders in Vietnam: Formation, EIN and Banking (2026)

• No US citizenship/residency required to own a US LLC. HIGH
• EIN with no SSN/ITIN via SS-4 line 7b "Foreign". HIGH, IRS
• Mercury is PROHIBITED for Vietnam residents (Mercury added Vietnam to its prohibited-countries list, re-verified 2026-06-16) → use Wise/Payoneer. HIGH
• US–Vietnam tax treaty: signed but NOT in force: do not rely on treaty benefits. NEEDS EXPERT REVIEW, Confirm current status
• A foreign-owned U.S. disregarded entity has no income tax return filing requirement of its own, but must still file a pro forma Form 1120 with Form 5472 attached by that Form 1120's due date.[1]Internal Revenue Service, Instructions for Form 5472 (12/2024)
• SBV foreign-exchange rules and GDT treatment of foreign income NEEDS LOCAL EXPERT REVIEW.

Vietnamese ecommerce sellers, agencies, and freelancers use a US LLC to reach US customers and marketplaces, access Stripe, and bill in USD.

The State Bank of Vietnam (SBV) governs foreign-exchange matters, and the General Department of Taxation (GDT) governs how foreign-source income is treated for residents. Note the US–Vietnam treaty is not in force, so no treaty relief currently applies, and you should confirm its status, which can change. This depends on your own circumstances, so get it confirmed locally. NEEDS LOCAL EXPERT REVIEW. Confirm with a Vietnamese tax advisor.

Passport (primary ID), proof of address, and LLC formation documents + EIN for banking/Stripe. Providers may request additional KYC.

File SS-4 with "Foreign" on line 7b; apply by fax or the international phone line. See the EIN guide. Timing varies; not guaranteed.

Mercury does not serve Vietnam residents (it's on Mercury's prohibited list, re-verified 2026-06-16), so plan around Payoneer and Wise Business (real US routing/account numbers) for receiving USD. No provider approval is guaranteed.

A US LLC + EIN + US/Wise account improves Stripe readiness; approval is never guaranteed. See the Stripe guide.

Budget for Form 5472 + pro-forma 1120 every year, plus your state report/fee. BOI does not apply to your US-formed LLC.

Formation plus registered agent in USD, and the ongoing state cost depends on the state. Wyoming charges an annual report license tax of $60 or two-tenths of one mill on the dollar of assets located in Wyoming, whichever is greater, due the first day of the anniversary month of formation.[2]Wyoming Secretary of State, Annual Report and License Tax Rules Every domestic and foreign Delaware LLC owes a flat $400 annual tax, due on or before June 1, and files no annual report.[3]State of Delaware, Delaware Code, 6 Del. C. § 18-1107(b) Convert to VND at the current rate with a live FX note. (FX MEDIUM.)

Forming the LLC is realistic, but plan banking around Wise/Payoneer, not Mercury, which won't serve Vietnam. And because the treaty isn't in force, don't assume treaty relief; confirm with a Vietnamese advisor how foreign income and SBV forex rules apply, and file Form 5472 each year.

SBV: State Bank of Vietnam. GDT. General Department of Taxation. Treaty in force. A signed treaty only applies once ratified and effective. EIN / Form 5472 / ECI, see the federal guides.