How do I navigate the ITIN process so I can open a US bank account?
Under federal law, U.S. banks are not legally required to collect a Social Security Number (SSN) or an Individual Taxpayer Identification Number (,[object Object],) from a non-U.S. person to open an account. The ,[object Object], rules permit banks to verify your identity using a passport number, an alien identification card, or another government-issued document evidencing nationality or residence.
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.
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 ITIN.
You may also be required to submit IRS Form W-8BEN 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.
