SSN Policy Manual

Policy Manual

With respect to accounts opened for trusts, charitable organizations, clubs and similar entities the financial institution should secure the employer identification number of the entity. An employer identification number should be obtained for this purpose even though an organization might not otherwise require one. A taxpayer identification number need not be secured in the following instances: (I) Accounts for public funds opened by agencies and instrumentalitiesof Federal, State, local or foreign governments, (ii) accounts for aliens who are (a) ambassadors, ministers, career diplomatic, or consular officers, or (b) naval, military or other attaches of foreign embassies and legations, and for the members of their immediate families, (iii) accounts for aliens who are accredited representatives to international organizations entitled to enjoy privileges, exemptions, and immunitiesas an international organization under the International Organizations Immunities Act of December 29, 1945 (22 U.S.C. Sec. 288), and for the members of their immediate families (a list of such organizations appears in title 19, section 148.87 (formerly section 1O.3Oa). Code of Federal Regulations), (iv) aliens temporarily residing in the United States for a period not to exceed 180 days, (v) aliens not engaged in a trade or business in the United States who are attending a recognized college or university or any training program supervised or conducted by any agency of the Federal Government, (vi) unincorporatedsubordinate units of a tax-exempt central organization which are covered by a group exemption letter, (vii) interest-bearing accounts maintained by a person 18 years of age opened as part of a school thrift savings program, provided the annual interest does not exceed $10, and (vii) Christmas Club, vacation club, and similar installmentsavings programs provided the annual interest does not exceed $10. In instances (vii) and (viii), the bank shall, within 15 days following the end of any calendar year in which the interest accrued in that year exceeds $10, use its best efforts to secure and maintain the appropriate taxpayer identification number or application form therefor. If the customer does not have a social security number or is unaware of his number, he can authorize the Social Security Administration to furnish his identification number to the financial institution.This authorization may be printed or stamped on the back of Form 88-5 (Applicationfor Social Security No.), in the space immediately above the legend, "For Bureau of Data Processing and Accounts Use". The authorization must contain the following language: Please furnish my SSN to: NAME ADDRESS SIGNATURE The customer should complete Form SS-5 and sign the statement on the back of the form. The financial institution should mail the completed form to the Social Security Administration in the preaddressed envelope provided and retain a copy (duplicate or photocopy) of the application until the number is received. The Social Security Administration does not require the Form SS-5 or the authorization statement to be signed by a parent or guardian even though the customer is under 18 years of age. A similar procedure may be used to obtain employer identification numbers. Upon proper authorization by the applicant on the back of part 2 on the first page of Form SS-4 (Application for Employer Identification No.), the IRS will furnish the employer identification number to both the applicant and the financial institution.