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Required to Open An Account w/ ITIN Number?

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Question: 
Should an account be opened with a ITIN Number - starting with a 9? If so, what other documents are needed?
Answer: 

The CIP regulation requires you to obtain an "identifying number." That includes any U.S. issued TIN, including an ITIN. The fact that you are allowed to accept an ITIN does not mean you are required to accept an ITIN; your bank could require that an individual provide you with an SSN as a condition of opening an account.

There is no form of documentation that corroborates an ITIN other than the IRS letter that assigned it. There is no form of identification that corroborates or is specifically associated with an ITIN; e.g. the party offering you the number might have a non U.S. passport or a U.S. drivers license.

First published on 03/10/2014

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