This paper presents a numerical investigation on the residual stresses and co-existent equivalent plastic strains in cold-formed high-strength steel (CFHSS) circular hollow sections (CHS) by using an advanced finite element (FE)-based method. In this method, the entire manufacturing process of the CFHSS CHS was modeled numerically. The accuracy of the numerical predictions of equivalent plastic strains and residual stresses in the CFHSS CHS was verified by comparing the predictions with the existing test results of both the residual stress measurement and load-end shortening response of the stub column. By using the FE-based method, the effects of high-frequency electric resistance welding on the residual stresses and the stub column response were investigated. The through-thickness variations of both the equivalent plastic strains and residual stresses in CFHSS CHS, which are difficult to measure in the laboratory, were explored numerically. Finally, the effect of cold work (which is quantified by the equivalent plastic strains and residual stresses) on the stub column response of CFHSS CHS tubes was evaluated. It can be found that the equivalent plastic strains and longitudinal residual stresses are generally uniform around the cross-section of CFHSS CHS. The transverse and longitudinal residual stresses are generally uniform across each half-thickness, with the inner half-thickness under compression and the outer half-thickness under tension. The results also demonstrate that both the plastic strains and residual stresses may significantly affect the cross-section capacities of CFHSS CHS.