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[[Nope. My dad is NOT a US citizen, he is a Spanish citizen living in Colombia. How does it work
for him in this case?

I'm not a US citizen either, but I do work and reside in the US.]]

Generally, for non-citizens and non-residents, they will pay a flat 30% tax (or lower treaty rate...withheld at the source) on interest and dividends. But, generally, capital gains will not be subject to US taxes.

His situation may be different from yours, since you may be a resident. As a resident alien, you are generally required to pay taxes on all worldwide income in the same manner and fashion as a US citizen.

For additional information on these issues, check out IRS Publications 519 and 901.

TMF Taxes

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