Tax information Number & bank account

[dotbloup]

When opening a bank account several banks ask for a Tax information number also called TIN from the Ultimate beneficial owner. This Tax information number has to come from the country where the Ultimate beneficial owner resides.

However, that's a problem for those who just moved or who are always on the move or don't pay any taxes (residents of Costa rica for instance)...

So, does someone know if this Tax information number is checked when we open a bank account?

 

[JohnLocke]

If there is no TIN available you can explain it to the bank and they are fine!

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[negon]

You may simply tell them you don't have one! It has been working for me a few times.

 

[kolagin]

What if I don't have a tax number, may country does not provide it?

 

[hungryit]

kolagin said:
What if I don't have a tax number, may country does not provide it?
Click to expand...

same here what is the answer please?

 

[myhand]

hungryit said:
same here what is the answer please?
Click to expand...

Admin already answered this here

Admin said:
If there is no TIN available you can explain it to the bank and they are fine!
Click to expand...

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[lostman]

dotbloup said:
When opening a bank account several banks ask for a Tax information number also called TIN from the Ultimate beneficial owner. This Tax information number has to come from the country where the Ultimate beneficial owner resides.

However, that's a problem for those who just moved or who are always on the move or don't pay any taxes (residents of Costa rica for instance)...

So, does someone know if this Tax information number is checked when we open a bank account?
Click to expand...

It sucks and they do it for the new reporting standard that is full function now!! 🙁