Under federal law, U.S. banks are not legally required to collect a Social Security Number (SSN) or an Individual Taxpayer Identification Number () from a non-U.S. person to open an account. The rules permit banks to verify your identity using a passport number, an alien identification card, or another government-issued document evidencing nationality or residence.
“How do I navigate the ITIN process so I can open a US bank account?”
Summary
You do not need a U.S. tax number to enter the financial system. The law explicitly allows banks to accept your foreign passport instead.
The options available to you depend on whether you are currently inside or outside the United States.
You can apply directly with a U.S. bank or credit union. You will need to provide a U.S. proof of address, such as a utility bill dated within 60 days, a lease agreement, or a pay stub. For identification, you can use a passport, a consular ID, or a municipal ID if your city issues them.
You can use an international bank that has a presence in your home country as well as the United States, which allows you to open an account back home and access it in America. You can also ask if your home-country bank offers a correspondent account through an existing partnership with a U.S. bank.
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Handling bank requests for a tax number
While federal law allows alternative identification, individual banks may still ask for an SSN or ITIN as part of their own policies.
If a bank requests an ITIN to enable them to file information returns required by law, you may be able to claim one of the IRS exceptions that allow you to apply for an .
You may also be required to submit IRS to the bank. This form establishes your foreign status and can be used to claim an exception from domestic information reporting and backup withholding on income such as bank deposit interest.
Next steps
When you are ready to open the account, follow these steps:
Gather your identification
Collect an unexpired government-issued photo ID, such as a valid passport or a consular ID.
Collect proof of address
Prepare a document that shows both your name and address, such as a utility bill, a lease, or a paycheck stub.
Complete the application and tax forms
Provide your identification to the bank. If you do not have an SSN or ITIN, you may need to complete to certify that you are not a U.S. taxpayer.
Legal sources
The rules for opening a bank account as a non-U.S. person come from the U.S. Code of Federal Regulations and IRS instructions.
31 CFR § 1020.220
Federal law allows banks to verify a non-U.S. person's identity using a passport or other government-issued ID instead of a taxpayer identification number.
For a non-U.S. person, one or more of the following: A taxpayer identification number; passport number and country of issuance; alien identification card number; or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.
IRS Form W-7 Instructions
If a bank requests an ITIN to file required information returns, you may be able to claim an exception to apply for one.
Frequently, third parties (such as banks and other financial institutions) that are subject to information-reporting and withholding requirements will request an ITIN from you to enable them to file information returns required by law. If you’re requesting an ITIN for this reason, you may be able to claim one of the exceptions described later.
IRS Form W-8BEN Instructions
Form W-8BEN can be used to claim an exception from domestic information reporting and backup withholding on bank deposit interest.
You may also be required to submit Form W-8BEN to claim an exception from domestic information reporting and backup withholding (at the backup withholding rate under section 3406) for certain types of income that are not subject to foreign-person withholding at a rate of 30% under section 1441. Such income includes: ... Bank deposit interest
This is general guidance, not legal advice. Confirm your specific situation with a licensed immigration attorney or tax professional.
SettleKit is not a law firm. This information is for general educational purposes and does not constitute legal advice.
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