kleinluka

You need to be a landed permanent resident in order to be eligible for a permanent SIN. They will only give you a permanent SIN if you can present them with your passport/visa+copr or PR card.

jammy123

So do you have to notify your creditors of your new SIN? If you do not notify them of the new SIN, who will?

JAJ

Anyone who had your temporary SIN should have your permanent one. Your responsibility.

jammy123

Ok, so the onus is on you to notify your creditors? What if you decide not to notify them? Do you see where I am going with this? What controls are in place to ensure that your creditors get your new SIN. In essence, you can start with a new credit file if someone did not want to notify the creditors of their new SIN, right?

n1cholas

Not disclosing your debts (for example when you are applying for a mortgage or credit card) is fraud, and could land you in jail. I don't believe it would take a debt collection agency long to work out that you've had two SIN numbers. Not advisable.

jammy123

I understand that, and no way am I contemplating that. My profession would not allow for this either. I am just trying to get an understanding of it all.

scrubbedexpat091

In Canada your never required to give a SIN # to gain credit, its an option that make you more unique but they dont need a SIN to find your credit file.

All they need is birthdate and name and they can find you, would take a tracer less then 10 minutes to figure it out.

Not one of my creditors has my SIN nor did they ever ask for it. (car loan, visa, and another credit card.)

JonboyE

As Jsmth321 says, your credit rating is kept with your name, not SIN number. For credit purposes the SIN number is just used to distinguish between two people with similar names.

You are not required to give your SIN number to anyone (except as noted below), particularly lenders. It MAY cause a lender to think twice if you refuse to give it. This is an individuals choice. However, if any lender has your temporary SIN number it is probably a good idea to advise them of your new permanent number because it is likely to make you more credit worthy.

You MUST give your SIN number (and advise a change in SIN number) to any person or organization that will give you taxable income. This is mainly employers, banks if you have money on deposit, and trusts if you have any trust income.

n1cholas

Great Post!
I believe the only times I have given my SIN number to banks was when I applied for RSP and a TFSA, which affect taxable income. Even then I don't think (but I am not 100% sure) that they were required. Either way it is certainly something they certainly want to have. I agree that being reluctant to give your SIN number to a credit application may cause some suspicion.

Regarding credit, I certainly had a hard time applying for credit cards here initially as I had no credit rating. After 6 months of having a cellphone and hydro contract, plus a regular income I found that banks were very willing to lend me money. Personally I think that lending money to people on temporary work visas is a bit risky, but clearly the bank thinks differently. I would also agree that a PR would be a lot more credit worthy than a temporary visitor.

JonboyE

Yes, they are required - the banks report RRSP deposits and withdrawals to the CRA (a withdrawal is taxable income) who then match it up with personal tax returns. For TFSAs the CRA check that people are not double dipping.