Puerto Rico is a territory of the USA.
Puerto Ricans can:
- not vote for president
- vote in presidential primaries
- not pay federal taxes
- go to work for the US army
- are US citizen
- work in any state without any visas (obviously they are US Citizens)
Why is the banking system different? If I open an IRA in a Puerto Rican bank, then it will be considered as income there before I can roll it over to a US bank.
Where can I get more information on the differences in the banking system?