Saturday, June 4, 2016
What is required of Non-U.S. Persons when opening a U.S. bank account?
Customer Identification Program (CIP) Under the United States of America Patriot Act
The CIP rules require financial institutions to apply certain identity verification procedures when a customer opens a new account. An “account” is defined as a formal arrangement established to provide ongoing services. Given this definition, the law applies to traditional types of accounts such as a checking, savings, certificates of deposit, as well as loans and other extensions of credit. The law does not apply to incidental relationships such as the occasional purchase of a money order, traveler’s check or a wire transfer.
The CIP rule also define the following:
(a) “customer” means any person seeking to open a new account and any person who will be signatory on the account at the time the account is opened or is added as a signatory after the account is opened.
(b) “person” is defined in the law and includes individuals, corporations, partnerships, trusts, associations, etc. This includes not only persons opening an account, but also includes any signatory on an account, such as an authorized agent for a business entity.
(c) “U.S. person” means a U.S. citizen or a legal entity established or organized under the laws of a State or the United States
(d) “Non-U.S. Person” means a person that is not a U.S. person.
(e) “account” is defined as a formal arrangement established to provide ongoing services. Given this definition, the law applies to traditional types of accounts such as a checking, savings, certificates of deposits as well as loans and other extensions of credit.
A New Account Relationship includes deposit and lending functions. Both are considered account relationships under these guidelines.
Customer Identification Requirements
The Bank requires anyone opening a new account relationship, or anyone added as a signatory to an account, to provide, at a minimum, the following information and to form a “reasonable belief” that the true identity of a customer is obtained. Included in this list is the acceptable identification required on all new account relationships, and any added signatory to an account:
Individual Non Business Requirements:
- Name
- Date and place of birth
- Residence address and mailing address if different (PO Box alone will not be acceptable)
- If the individual is a U.S. person, the individual’s social security number. If the individual is a non-U.S. person all of the following that the individual possesses (minimum of one required): a U.S. taxpayer identification number; a passport number and country of issuance’ and alien identification card number; number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.
- Official issued identification number (e.g. Social Security Number, Employee Identification Number or Individual Taxpayer Identification Number)
- Current Drivers License (photograph required)
- Current Armed Forces Identification (photograph required)
- Valid Passport (photograph required)
- Current Alien Identification (current photograph required)
- Valid Social Security Number
- Valid Employee Identification Number
Each bank will have its own policies and procedures drafted to comply with the requirements above. Most institutions choose to draft policies and procedures more strenuous than those required by law.
The following is examples of additional information that might be required:
- Secondary ID (photograph not required Credit or Debit Card)
- Proof of Address (Title, Lease, or Utility Bill)
- Account Opening Process be done in person and originals of documentation be viewed
- If the account owner is a non-U.S person without a U.S. ITIN then an IRS Form W8-BEN will be required
http://www.keytlaw.com/usrealestatelaw/open-us-bank-account/
Can a non-US alien resident open a bank account in the US? And if not, what is the easiest way to do that?
2 Answers
Lionel Iruk, Sr. Intl. Business, iGaming, Tax, and Immigration Attorney for Empire.Legal
546 Views • Lionel has 60+ answers in Banking
Yes, a non US resident alien can open a bank account. The CIP rules require financial institutions to apply certain identity verification procedures when a customer opens a new account.
The Bank requires anyone opening a new account relationship, or anyone added as a signatory to an account, to provide, at a minimum, the following information and to form a “reasonable belief” that the true identity of a customer is obtained. Included in this list is the acceptable identification required on all new account relationships, and any added signatory to an account:
Individual Non Business Requirements:
Name
Date and place of birth
Residence address and mailing address if different (PO Box alone will not be acceptable)
If the individual is a U.S. person, the individual’s social security number. If the individual is a non-U.S. person all of the following that the individual possesses (minimum of one required): a U.S. taxpayer identification number; a passport number and country of issuance’ and alien identification card number; number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.
Official issued identification number (e.g. Social Security Number, Employee Identification Number or Individual Taxpayer Identification Number)
Current Drivers License (photograph required)
Current Armed Forces Identification (photograph required)
Valid Passport (photograph required)
Current Alien Identification (current photograph required)
Valid Social Security Number
Valid Employee Identification Number
Each bank will have its own policies and procedures drafted to comply with the requirements above. Most institutions choose to draft policies and procedures more strenuous than those required by law.
The following is examples of additional information that might be required:
Secondary ID (photograph not required Credit or Debit Card)
Proof of Address (Title, Lease, or Utility Bill)
Account Opening Process be done in person and originals of documentation be viewed
If the account owner is a non-U.S person without a U.S. ITIN then an IRS Form W8-BEN will be required
If you need any assistance with banking, get in touch with me any time via email or skype :
Home - EMPIRE
email: lion@empire.legal
Skype: leoslaw2
Legal Disclaimer:
This website, or this blog post and its contents do not create and are not meant to offer any legal advice but merely a legal minded expression of fact or opinion, meant for public consideration. Viewing this website does not create an attorney-client relationship with Empire Legal or an attorney associated with Empire Legal posting on Quora. Sending an e-mail or communication to Empire Legal does not create an attorney-client relationship without a formal agreement. Thanks and we look forward to hearing from all of you Quoraians.
Written 21 Apr • View Upvotes
Related Questions
More Answers Below
Can an EU citizen open a business bank account in the US? If so, what is the general process?
What identification do US banks require to open a checking account?
What US banks will give me a checking account with a debit card as a non-US resident?
Can I open a US bank account as a non-resident if I have a Delaware LLC (I am not, and will not be, in the US)?
In the United States, how can a non-US citizen/non-resident set up a bank account online?
Gary Yamamura
Gary Yamamura, I spent the better part of a decade working in bank branches
1.7k Views • Gary has 90+ answers in Banking
Yes, provided that the individual has at least a couple of different forms of identification (with at least one issued by a government agency), has a valid travel or work visa or green card, is 18 years of age or older, can deposit the minimum amount required by the bank and, typically, can be present in person in the bank at the time the account is opened. It's actually a relatively simple process and shouldn't be any more difficult for a non-resident client than it is for a US citizen. That said, its always best to call or visit the bank branch where the account is to be opened and inquire about their requirements. You may have to make a couple of trips but you'll also avoid unnecessary frustration and headaches.
Written 18 Feb 2015
Đọc thêm ở :
http://www.keytlaw.com/usrealestatelaw/open-us-bank-account/
2 Answers
Lionel Iruk, Sr. Intl. Business, iGaming, Tax, and Immigration Attorney for Empire.Legal
546 Views • Lionel has 60+ answers in Banking
Yes, a non US resident alien can open a bank account. The CIP rules require financial institutions to apply certain identity verification procedures when a customer opens a new account.
The Bank requires anyone opening a new account relationship, or anyone added as a signatory to an account, to provide, at a minimum, the following information and to form a “reasonable belief” that the true identity of a customer is obtained. Included in this list is the acceptable identification required on all new account relationships, and any added signatory to an account:
Individual Non Business Requirements:
Name
Date and place of birth
Residence address and mailing address if different (PO Box alone will not be acceptable)
If the individual is a U.S. person, the individual’s social security number. If the individual is a non-U.S. person all of the following that the individual possesses (minimum of one required): a U.S. taxpayer identification number; a passport number and country of issuance’ and alien identification card number; number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.
Official issued identification number (e.g. Social Security Number, Employee Identification Number or Individual Taxpayer Identification Number)
Current Drivers License (photograph required)
Current Armed Forces Identification (photograph required)
Valid Passport (photograph required)
Current Alien Identification (current photograph required)
Valid Social Security Number
Valid Employee Identification Number
Each bank will have its own policies and procedures drafted to comply with the requirements above. Most institutions choose to draft policies and procedures more strenuous than those required by law.
The following is examples of additional information that might be required:
Secondary ID (photograph not required Credit or Debit Card)
Proof of Address (Title, Lease, or Utility Bill)
Account Opening Process be done in person and originals of documentation be viewed
If the account owner is a non-U.S person without a U.S. ITIN then an IRS Form W8-BEN will be required
If you need any assistance with banking, get in touch with me any time via email or skype :
Home - EMPIRE
email: lion@empire.legal
Skype: leoslaw2
Legal Disclaimer:
This website, or this blog post and its contents do not create and are not meant to offer any legal advice but merely a legal minded expression of fact or opinion, meant for public consideration. Viewing this website does not create an attorney-client relationship with Empire Legal or an attorney associated with Empire Legal posting on Quora. Sending an e-mail or communication to Empire Legal does not create an attorney-client relationship without a formal agreement. Thanks and we look forward to hearing from all of you Quoraians.
Written 21 Apr • View Upvotes
Related Questions
More Answers Below
Can an EU citizen open a business bank account in the US? If so, what is the general process?
What identification do US banks require to open a checking account?
What US banks will give me a checking account with a debit card as a non-US resident?
Can I open a US bank account as a non-resident if I have a Delaware LLC (I am not, and will not be, in the US)?
In the United States, how can a non-US citizen/non-resident set up a bank account online?
Gary Yamamura
Gary Yamamura, I spent the better part of a decade working in bank branches
1.7k Views • Gary has 90+ answers in Banking
Yes, provided that the individual has at least a couple of different forms of identification (with at least one issued by a government agency), has a valid travel or work visa or green card, is 18 years of age or older, can deposit the minimum amount required by the bank and, typically, can be present in person in the bank at the time the account is opened. It's actually a relatively simple process and shouldn't be any more difficult for a non-resident client than it is for a US citizen. That said, its always best to call or visit the bank branch where the account is to be opened and inquire about their requirements. You may have to make a couple of trips but you'll also avoid unnecessary frustration and headaches.
Written 18 Feb 2015
Đọc thêm ở :
http://www.keytlaw.com/usrealestatelaw/open-us-bank-account/
CP đã bật đèn xanh cho dân được thực thi QUYỀN này !
(Viết sau tin "BT văn phòng CP họp báo cho biết : dù đã có kết luận về cá chết hàng loạt nhưng chưa thể công bố nguyên nhân mà PHẢI CHỜ PHẢN BIỆN" *).
Vậy từ nay về sau , người dân nên thực thi QUYỀN này mỗi khi CP công bố 1 kết quả hay tòa án có phán quyết trong một phiên xử , v.v... Ví dụ :
1/ Ngày 22/5/2016 có bầu cử quốc hội , dù CP đã công bố kết quả nhưng dân CÓ QUYỀN "không công nhận kết quả vì PHẢI CHỜ phản biện" .
2/ Sau khi tòa tuyên án , bị cáo (defendant) CÓ QUYỀN "ko công nhận phán quyết vì PHẢI CHỜ phản biện" .
3/ Khi bị CA yêu cầu theo họ về đồn , ng dân CÓ QUYỀN "ko thi hành vì PHẢI CHỜ phản biện" .
Và còn nhiều ví dụ khác .
* Tư duy phản biện hay là tư duy phân tích là một quá trình tư duy biện chứng gồm phân tích và đánh giá một thông tin đã có theo các cách nhìn khác cho vấn đề đã đặt ra nhằm làm sáng tỏ và khẳng định lại tính chính xác của vấn đề. Lập luận phản biện phải rõ ràng, lôgíc, đầy đủ bằng chứng, tỉ mỉ và công tâm .-- Wiki .
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