Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network
 


MAIN CONTENT 
Compliance

    Agency Road Maps

    Alphabet Soup

    Compliance Tools

    FACTA/FCRA

    OFAC

Lending

    FACTA/FCRA

    Lending Tools

    SCRA

Marketing

Operations

    Check 21

    Operations Tools

    SAR Resrch Guide

Security

    AML/BSA

    Bank Robbery

    Counterfeits

    ID Fraud/Phishing

    Security Tools

Technology/eBanking

    Info Security


SPECIAL AREAS 
BOL Archives

BOL Blogs

Briefing Archive

Calendar

Court Watch

e-Card Exchange

Examiner's Corner

Executive Briefing

HR Corner

Infovault

Launch Pad

Regulator Roadmaps

Risk Management

Site Map

Site Orientation

Top Stories


~ ~ ~
SERVICES 
CrimeDex

Em@il Education

ID Verification


~ ~ ~
SHOP 

Banker Store

Bankers Info Ntwk

CONNECT 

Career Connect

Learning Connect

Guru Central

INTERACT 

Ask a Guru
Bankers Threads

Contact Us

Give Us Feedback


TOOLS 


60 Second Solutions

Alphabet Soup

Banker Tools

BOL Forms

FUN 

BOL Recipes

eCard Exchange

LEARN MORE 


About Our Sponsors
About Us






Print Friendly! Email This Article! Discuss NOW!



PUPID Wire Transfer
by Ken Golliher, BOL Guru
Guru Bios

Question:  Have you heard of a financial institution requiring the beneficiary of a PUPID wire transfer (a non-customer) to complete a form W9 (Request for TIN and Certification) or W8-BEN. I understand the necessity of positively identifying the recipient of the funds but the use of this form seems unusual? Iíve done a little research and cannot find any other references or guidance recommending this. Am I missing something?

Answer:  The Internal Revenue code, not BSA, requires the execution of the W-9 or the W8-BEN in appropriate circumstances. The form is simply irrelevant to wire transfers.

First published on BankersOnline.com 11/27/06






Privacy Policy    Disclaimer   Recommend This Site !   Contact Us


BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.