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Do NRAs have to have FTIN?

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Is a US TIN enough for a NRA on an interest bearing account?

No, approximately 80 countries require a FTIN on a W-8BEN or you must withhold 30%. Many systems and financial institutions have missed this and are operating on old rules. The IRS finalized these rules on January 2, 2020.


Learn more about Deborah Crawford’s webinar Alert! Deposit Regulatory Update for Second Quarter

First published on 05/31/2020

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