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Old Aug 9th 2017, 1:24 pm   #1
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Default Tax Residency Form

Hi. Can't seem to find anything about this, so apologies if it's covered elsewhere. Quick question ; I got one of these forms from the bank (UK) ( straight forward and simple ) but it asks for my SIN. Now I'm leary about giving such info out, but it does seem legit. Does anyone know how they hold such info? Given the track record of institutions ( Govt & NGO's) to loose such stuff, I'm more than cautious about replying ( especially as I am led to believe that this is being collected by a third party - Ernst & Young ). I called their number, but they couldn't tell me, as they only deal with form filling issues, nor could they suggest who to contact about such. The only thing they did say was that there is no legal obligation to send it back. I'd be interested to hear of anyone's experience on this, before I take the plunge and mail it out. Thanks.
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Old Aug 11th 2017, 8:26 pm   #2
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Default Re: Tax Residency Form

Which tax residency form? We've filled them out for UK Inland Revenue and there is a section that's signed by CRA. This is so that we don't pay UK tax on pensions. I'm pretty sure that the form didn't go to the pension people but to the tax office

The forms are online
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Old Dec 22nd 2017, 4:39 pm   #3
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Default Re: Tax Residency Form

Interested in your post. Had a request for SIN from HSBC UK where I hold a modest account. I did not send it for security reasons only. Now received several bits of paper to fill in because they didn't get the SIN. What did you do finally? I too am loathe to divulge this info but they don't seem inclined to let me off the hook. Did a quick search on this site for others affected. We can't be the only ones.
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Old Dec 22nd 2017, 6:25 pm   #4
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Default Re: Tax Residency Form

I had the same from FD. I caved in in the end and gave it to them. I was reluctant for a while but I didn't want to have the account closed.

I spoke to my local HSBC Canada manager who is actually British so very understanding. She told me everyone had received them and it was a requirement now.

We've discussed this on here before somewhere.

Last edited by Snowy560; Dec 22nd 2017 at 6:30 pm.
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Old Dec 22nd 2017, 11:12 pm   #5
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Default Re: Tax Residency Form

I got one, sent it back. Got another one. Didn't bother sending it back. Haven't heard anything since.

Both asked me to reply within thirty days of the date on the letter. The first took twenty-eight days to get here. The second took forty days to get here.

Ah, I'd almost forgotten the joys of British bureaucracy.
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Old Dec 23rd 2017, 12:37 am   #6
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Default Re: Tax Residency Form

I think you guys are talking about the Common Reporting System (CRS) which is gradually being used everywhere. It is a requirement under the OECD rules relating to money laundering and information can be found here....Automatic Exchange - Organisation for Economic Co-operation and Development.
This is similar, but separate, from the USA FATCA system of reporting where you are resident for tax purpose.

These requirements are for the bank and the information is on the basis of 'Know your client". The government will have access to that information if they have any suspicion about the activity of the account....otherwise, it is private information held by the bank.
I'd suggest, to avoid issues later when accessing the account, it is best to comply and fill the form....it isn't onerous and hardly highly secret information unless having something to hide.

George Orwell (1984) got it right...just got the date wrong.
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