Does every NRA have to have an FTIN?

Answered by:

Question:

Do we have to look back to those customers already on our books for Foreign Taxpayer Identification Numbers (FTIN)?

Answer:

If it is a country that we are doing exchanges with on tax information and the customer is a NRA then yes you need a FTIN. If not, you begin back up withholding beginning in 2020.
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Learn more about Deborah Crawford’s webinar Nonresident Aliens Deposit Customers: FTIN, US TIN and Interest Reporting