Florida Domicile and Financial Institutions

talon39 · November 21, 2022

Sorry if this has already been discussed. I wasnt able to find it by searching.

I setup Domicile in Florida years ago through a mail forwarding service in Green Cove Springs. However in recent years financial institutions have stopped accepting my address. I spoke with someone at Escapees last year about switching to their mail forwarding service, but was told I would run into the same problem.

I have no actual residence in the U.S. I spend most of my time living and traveling abroad.

I don't want to create tax nexus in the state where my relatives live by using their address. What's the work around?

Edited November 21, 2022 by talon39
typo

jbh · November 22, 2022

An Escapees domicile address is different than an Escapees mail-service address. The Escapees Bushnell domicile address is for a CG you could actually live at and can get you a RealID-compliant drivers license. No different than an apartment complex.

An Escapees mail-service address gets you a mail-forwarding service in Texas, just a PMB, and not good for d/l, financial etc.

You don't receive mail at the domicile address.

I have an Escapees Bushnell domicile address but am still using my St. Brendans Isle mailing address simply because that address is used everywhere and it's a real pain to change it. My d/l has the Bushnell address but the mailing address for DMV, financials etc is Green Cove Springs.

SBI made a change several years ago and could provide a "real" address in addition to the PMB address, so you might ask them about it. I don't know if they still do that.

talon39 · November 22, 2022

Thanks jbh,

St Brendan's, mentioned another address, but I really got the impression that it was just a bandaide fix.

I spoke with escapees at length, but they never mention there was a separate domicile address that would work. They were pretty clear that they faced the same problem with the financial institutions. Maybe something changed. I will give them another call.

Your setup might be what I need..

Thanks!

Danfreda1 · November 22, 2022

The pmb is good enough for a drivers license. We have a South Dakota pmb with real id d/l. Our bank has no problem with the address but the larger financial companies need a physical address but don’t use it to mail things to. Have had it that way for almost 3 years

JimK · November 24, 2022

It has been quite a few years since I was a fulltimer but I remember having the same issue. Quite a few institutions want your "real" address and not just a PO (PMB) number. That included my bank, one of my investment houses, my healthcare company and even Medicare.

Trying to "reason" with these institutions can be frustrating without any satisfactory resolution. The solution was simple. Never include "PMB" as part of your address. Certainly do not put c/o as part of your address. Instead show the typical street address with the PMB number included. Either just include #your number or enter the PMB number under the line for apartment number.

Making the transition in steps also helped avoid any red flags. My online banking allowed me to set up a separate mailing address and I used my new mailing address, minus the PMB designation. I had checks printed with that same address. When I went to SD to establish residency, they wanted a receipt for a one night stay at a motel or campground and they needed some other paperwork indicating the change. A voided check with the new address or a bank statement with the financial details blanked out was all I needed to provide.

sandsys · November 24, 2022

4 hours ago, JimK said:

It has been quite a few years since I was a fulltimer but I remember having the same issue. Quite a few institutions want your "real" address and not just a PO (PMB) number. That included my bank, one of my investment houses, my healthcare company and even Medicare.

Trying to "reason" with these institutions can be frustrating without any satisfactory resolution. The solution was simple. Never include "PMB" as part of your address. Certainly do not put c/o as part of your address. Instead show the typical street address with the PMB number included. Either just include #your number or enter the PMB number under the line for apartment number.

Making the transition in steps also helped avoid any red flags. My online banking allowed me to set up a separate mailing address and I used my new mailing address, minus the PMB designation. I had checks printed with that same address. When I went to SD to establish residency, they wanted a receipt for a one night stay at a motel or campground and they needed some other paperwork indicating the change. A voided check with the new address or a bank statement with the financial details blanked out was all I needed to provide.

Yes. those things used to work.

Linda

Kirk W · November 24, 2022

7 hours ago, JimK said:

It has been quite a few years since I was a fulltimer but I remember having the same issue. Quite a few institutions want your "real" address and not just a PO (PMB) number. That included my bank, one of my investment houses, my healthcare company and even Medicare.

We used the Livingston Escapee Mail Service for our domicile and only address from 2000 until the end of 2011 and in that time we never had any of those experiences. But Texas does recognize the Escapee address for all legal purposes.

TXiceman · November 25, 2022

We have used the Escapees Livingston, TX address as our domicile and it is accepted by out bank, brokerage form and all other places and have not had an issue with any of them.

Ken

jjwicklund · November 28, 2022

Talon 39, Do you file Federal tax forms from that address. Only time wife had a problem was when her broker changed firms. After she sent several envelopes from IRS, Medicare and her financial institution the brokers new firm accepted the PMB as legitimate address. I mean if the federal government accepts it why shouldn't they.

talon39 · November 29, 2022

Yes. I use my FL address for my taxes, DL, and domicile. But AMEX and certain investment platforms wont accept it. It's becoming a real problem.

katwell · January 30, 2023

@talon39, thank you for posting this, as it drew my attention. Was there a resolution to this issue?

My wife and I are very much interested in retiring later this year and pursuing a nomadic lifestyle with Florida as a home base and domicile via Escapees. Like you, we don’t want to lean on our close relatives. My sole point of hesitancy is that our financial institutions may not be willing to accept an Escapees domicile address now or years down the road.

Does anyone have any advice for dealing with such a situation or (better still) avoiding it in the first place?

Edited January 30, 2023 by katwell
Added clarity.

Kirk W · January 30, 2023

When we went on the road I just gave our existing financial institutions a change of address and it never came up. I have heard of some people having that issue from time to time with some companies. For banking, if you select one of the local banks in the Bushnell area I doubt that you will have any address issues. Investment firms can be more of an issue so if you currently have a broker or financial advisor, I'd suggest talking with him about your coming move. You may want to visit with your insurance agent as well.

TXiceman · January 30, 2023

We domiciled in Texas and never had any issue with driver's license, banks, brokerage firms, carry permit or insurance using the Livingston address. We just gave them the address change and it was done. We found a few services that we had to let them enter it as an apartment or a lot to get it to be accepted.

Ken

sandsys · January 30, 2023

How easy it was for us back in 2008 has little to do with how easy it will be for you now. The main problem now seems to be investment firms; it appears government regulations now require them to have a physical, residential address. So far, it looks like your best bet for that is to get an address at Rainbow's End but even that is not guaranteed to work everywhere. I'd take Kirk's advice and talk to the people who can give you real answers for today's challenges.

Linda Sand

talon39 · January 30, 2023

Quote

So far, it looks like your best bet for that is to get an address at Rainbow's End but even that is not guaranteed to work everywhere. I'd take Kirk's advice and talk to the people who can give you real answers for today's challenges.

What is Rainbows End and who are the people to talk to?

My problems are with AMEX, KYC, Etc... Already talked to those people. They had no idea about people like us...

Also talked to Brendan's Isle and Escapee's a couple years ago. No good solutions offered at that time..

Brendan's does offer an alternative address, but it's the same alternative address for everyone, and that makes me nervous.

Edited January 30, 2023 by talon39
Wanted to quote sandsys

Kirk W · January 30, 2023

40 minutes ago, talon39 said:

What is Rainbows End and who are the people to talk to?

Rainbow's End is the HQ and RV park of the Escapees RV Club and home of the largest mail service designed for RV folks in existence. Since you are looking for something for an international traveler it may not work for you. Nothing significant has changed since you last posted here.