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#488386 - 01/25/06 02:01 PM ITIN- Bank must pursue it?
Laketime Offline
Platinum Poster
Joined: Aug 2002
Posts: 554
I am interested in how other banks that open accounts for Non-U.S. persons (specifically undocumented workers) deal with the issue of ITINs when they have knowledge that the customer is working, either at the time the account is opened or after.

1. If a non-U.S. person (without any kind of green card, work permit, etc.) opened a non-interest bearing account without a TIN at your bank and you either initially or subsequently had knowledge that they were working (i.e., based on their opening deposit or future deposits, they mention it to a teller, etc.) do you see it as the bank's responsibility to require the customer to apply/obtain an ITIN?

2. Would your answer to the above question change if they opened an interest-bearing account and you had them sign a W-8BEN at the time of account opening?

Thank you for any responses.

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#488387 - 01/25/06 09:19 PM Re: ITIN- Bank must pursue it?
yorockie Offline
Joined: Jun 2004
Posts: 77
My own private island
The bank does not have a responsibility requiring non-US persons to apply for an ITIN. The employer of the non-US person may be on the hook for employment taxes for that individual, but the bank just needs to make sure it satisfies CIP.

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