Opening Account for Non-Resident Alien

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Question:

When opening an account for non-resident alien can we use a social security number from a card that has "not valid except for work purposes only" printed on it or should this customer complete a W8BEN?

Answer:

You need a W8-BEN from a nonresident alien. Only a U.S. citizen or a resident alien can accurately make the certification statements incorporated in the W-9 or a substitute form. The W8-BEN has a place for a U.S. TIN if the customer has one. Put the SSN on the form, but continue to treat it as an NRA account which, except for Canadians, is exempt from information reporting.

First published on BankersOnline.com 5/12/03