Answered2 years ago
What should I do if my Thai bank requests urgent information regarding CRS?
Hello, just received a text from my Thai bank requesting urgent information regarding CRS. I am not from the US and Ipay all my taxes in my home country. Do I need to do anything as it requests I contact them. Thanks
Edit Update: Thanks for all the replies. Just been to my bank and it was a genuine text I received. I had to take in my passport, bank book, tax number in my overseas country and proof of Thailand address. They filled in the forms which took 10 minutes in all. Good luck if you need to do this.
Edit Update: Thanks for all the replies. Just been to my bank and it was a genuine text I received. I had to take in my passport, bank book, tax number in my overseas country and proof of Thailand address. They filled in the forms which took 10 minutes in all. Good luck if you need to do this.
Answer summary
The user received an urgent text from their Thai bank asking for information related to the Common Reporting Standard (CRS). After consulting with the community, they were advised to visit the bank directly to verify the request, as there are many scams related to such messages. The user later confirmed the legitimacy of the request when they went to the bank, where they provided necessary documentation such as their passport, tax number, and proof of residence in Thailand to comply with recent banking regulations.
111 repliesnewest first
Click comment and we will ask for your email, then OTP, then name.
Colin ***************
Scam
Tom *********
Texts from banks, always treat with extreme suspicion.
Duncan ******
Befriended a young biker on my last visit .he sent me a message saying . " Just say yes " ?
Taryn *******
Go to the bank๐คท
Frank ******
Go to bank copy screenshot of request
David ********
so ... why don't you contact them?
Andy **********
Obviously make sure the request actually genuine and not a Phishing attempt. Don't text back confidential details, go into the branch office, speak to the manager.
James *********
I just went to my krungthai branch today. My Thai Visa I am currently using is on my US passport. They just needed a copy of my ID and my address and signature. Didn't ask for any tax number or information. ๐คท๐ปโโ๏ธ Easy ๐ค
Matthew *********
Don't most banks have you fill out the proper forms when you open an account. I remember 5 years ago Bangkok bank filled out a ton of tax forms relating to the United States.
Nelly ******
@Matthew ********
theres only one from my experience doing accounts last week with a few of us there. The American did a w2 which is a USA form. Its mentioned in loads of movies so that i know.Matthew *********
@Nelly *****
it's been some years but the lady that open my acct was very through with tax forms and regulations. I am surprised that there is even an issue with the banks. Maybe I am missing something and some lady posted about not forgetting you tax id number. Well your tax id is your SSN unless if she is referring to w2 tax id? Which the bank wouldn't be asking since that is for Americans filing taxes on the US. It's one reason I hate to keep any money in my Thai because people always adding to the confusion about money being taxed. I am on military pension so I know they can't tax it. It's not income earned in Thailand so I try not to think to much bit it is Thailand. They do kind of make up rules as they go.Matthew *********
@Nelly *****
I agree with you. They just need to b careful and think about all the money that is sent to Thai tru remittance. They are likely to hurt their own people. I think about mexico and number one source of income is remittance. Also phillipines would never do that because they understand the hand that feeds them. I think we have an interesting year ahead of us. Just hope they don't force me to go back to the Philippines.Nelly ******
@Matthew ********
and of course the Thai's made it really vague and difficult to negotiate. The basic issue is the definition of "remittance" and remiting funds here. Which if you use a credit card doesn't happen but again nobody has yet answered that one.Nelly ******
@Matthew ********
you're lucky military pensions are exempt from tax in Thai law. Other pensions are not. For the USA people they need the TIN on the forms. Most other countries have the equivalent of a TIN but its not that simple. Unfortunately this American lead nonsense isn't going away it seems.
Kool *******
This is mostly being done when the phone number registered with your account doesn't match your current phone.
Jan ******************
@Barry *******
Donโt worry I got it too and was in the bank today. Just updated my personal information, address, telephone number email address. Tok a new copy of my passport and I answered several questions confirming I was not a US citizen or had a green card. No questions regarding Tax as Iโm just here for 7 weeks this year.
Chris *******
I took my emai request to the bank and they completed the forms for me
Nelly ******
@Chris ******
what forms?Chris *******
@Nelly *****
information forms .. CRSChris *******
@Nelly *****
mine was last year .. Kasikorn bank.. complete and return by 19th December.. so as mentioned I went to my local branch ..Nelly ******
@Chris ******
thanks. I wonder how long it will take to get the same request.Chris *******
@Nelly *****
British.. the bank emailed me so I complied.. a lot of answers were N/ANelly ******
@Chris ******
are you American. didn't think any other nationality did any additional forms.
Ian *********
So many diffetent answers here!
Anchiya **********
Make sure you do it at the bank not with someone on phone or at somewhere else.
Elรญas ********
What's your country or citizenship?
Marty ******
Sounds like another $ grab
Vickey *****
Urgent from a bank via text!.... Sounds like scam. ..
Terary **********
SCAM ALERT
CjandBrigitte **********
Kasikorn, we were required to do the same. Takes about 15 minutes, just make sure you have your home tax number with you to complete the paperwork.
Jonnie *******
@CjandBrigitte *********
Iโve been with KBank for 16 years and still not received any request for this info,CjandBrigitte **********
@Jonnie ******
That is the mail we received. Went to the bank and completed the documentation there and submitted at the bank.Jonnie *******
CjandBrigitte **********
@Jonnie ******
Everyone will get it eventually. All the banks are trying to get rid of the "mule" accounts. We are not the only ones to get the notification from the bank to go and verify our accounts, quite a few already that we know of.
Peter **********
CjandBrigitte Hua Hin why would you volunteer your personal data in another country to a thai bank
CjandBrigitte **********
@Peter *********
If you want to retain your Thai bank account. You need ro provide this information. You are also required to provide your Thai TIN number if you have that already.
Shai ********
Do not fall for any scam.
Do not call the number they provided.
Go instead to any legitimate paperwork you had from the start and number you had saved at the time and call that instead. If you were there, I would say go in person to ask.
Do not call the number they provided.
Go instead to any legitimate paperwork you had from the start and number you had saved at the time and call that instead. If you were there, I would say go in person to ask.
เธเธญเธ ********
Sounds like a scam
Marcel *******
Check ur banking app or ur online bank account . If it is no spam u also must find a message in both of them
Tim *********
yes you need to provide your bank with the information. Go into a branch. Paying tax at home does not always mean there is no tax to pay in Thailand. Ask your District office or Revenue office about that
Nigel **************
Just check this is not a scammer. Check the wording and typeface carefully in the message
Nelly ******
The UK tried FATCA on my partner once for the USA as they was resident of Kazakhstan.... according to them in any case. Took two years to sort out due to the bloody American stupids. Someone put 07xxx xxxxxx in the wrong box so 07 and the next digit is Russia and Kazakhstan...
Nelly ******
It's utter bull. There's no legal requirement to do this but it sounds like they are grabbing it with both hands.
Pete *******
@Nelly *****
the legal requirement is on the financial institutions not you. However they may withdraw their services if you donโt comply.Nelly ******
@Pete ******
but a form? What form is my question. The bank last week asked for a W2 for the American. Not a FATCA....there is no DTA with USA so maybe he will get screwed over. Don't understand why a Thai bank is making a yank fill a W2.
Mark ********
@Nelly *****
"oh yeah. i thought i'd seen there wasn't one." Nope i was right definitely a dumb loadmouthed yank...Nelly ******
@Pete ******
yeah i googled it.Nelly ******
@Mark *******
no. you're wrong a lot it seems.Pete *******
@Nelly *****
US Thai DTA signed in Bangkok on 26th November 1996, perhaps you werenโt around and missed it.....Mark ********
@Nelly *****
๐คกYou thought but obviously not sure but you still shout your mouth off about it๐คฃ๐คฃYou have to be a yank๐คฃ๐คฃNelly ******
@Pete ******
oh yeah. i thought i'd seen there wasn't one.Pete *******
@Nelly *****
I think you will find that the US-Thai DTA has been around for many many years.....Elรญas ********
@Nelly *****
for American citizens I think it's kind of mandatory (as per the American side request), for the others, it depends. I don't have a Thai account, so it doesn't matter, but I highly doubt my country of citizenship shares anything with Thailand (not even with the US ๐).Nelly ******
@Elรญas *******
there's about 120 countries who do CRS. You might be surprisedNelly ******
I opened two accounts this last week and only the third USA person one required a form. The W3.
Anyone on a retirement visa isnt resident. It's a non (resident) O.
Anyone on a retirement visa isnt resident. It's a non (resident) O.
Pete *******
@Nelly *****
tax residency and a non resident O visa are two completely different concepts, donโt confuse the two.Nelly ******
@Pete ******
I'm not. I was making a statement. Tax residence has nothing to do with residence although very often confused. Just because you have a O doesn't mean you are resident for either.
Phuket ******
@Nelly *****
if you stay over 180 days you are classed a resident for tax purposes regardless of what type of visa you are on.Nelly ******
Residents and non-residents are taxed on their assessable income
derived from employment or business carried on in Thailand,
regardless of whether the income is paid in or outside Thailand.
Residents who derive assessable income derived from outside
Thailand would only be subject to tax if such income is earned in any
tax year starting from 1st January 2024 onwards and is remitted to
Thailand in the same or a later tax year.
derived from employment or business carried on in Thailand,
regardless of whether the income is paid in or outside Thailand.
Residents who derive assessable income derived from outside
Thailand would only be subject to tax if such income is earned in any
tax year starting from 1st January 2024 onwards and is remitted to
Thailand in the same or a later tax year.
Nelly ******
yes potentially. Paw.
********
and ********
the tells you what is taxable.
Silv *****
Go into the bank!!! Could be
Scammer
Scammer
Sam *****
@Silv ****
yep thatโs great advice.
Tony ********
You missed the communication in Nov last year to all foreign nationals with K bank accounts requesting the filing of several forms (only 1 for non USA nationals) by a mid Dec deadline.
Jason ******
Most countries have tax amenities agreements between them now and share tax information to make sure no one gets under the radar by living in another country . ๐๐ฝ
Brett *****
Do not supply any information without attending bank in person to discuss request
John ******
@Brett ****
not to discuss request but visit the bank and ask if it is a request or fake.that is all. The request itself is the same as request from other banks and you have to provide the answersBrett *****
@John *****
umm ok pretty much what I said mate
John **********
CRS is for other countries other than the US. The US does FATCA. You do need to complete the form
David ***********
Yes. Go and see your bank. It's about new laws on proof of identity. Do not answer online in case it's spam
Nigel *********
@David **********
good advice
Damian *********
@David **********
best advice ๐๐
Bob **********
I got a letter from Krungthai asking and I donโt have an account with them
John ******
@Bob *********
if you don't have an account you do not need answer . I do not understand why they have your name and adres or mail.
Jay **********
@Bob *********
someone's got your account with them then ๐
Bambuu *****
be careful a lot of fake mssge, emails from scammer
Paul ***********
Yes you need to give them what they ask for.. As if you don't they will close your bank account.. ๐
Jordee ******
@Paul **********
You make things upPaul ***********
@Jordee *****
here ya go princess ๐*****************************************************************
Paul ***********
@Jordee *****
no I don't....but you are welcome to prove me wrong... If you wish..Or are you comments just going to be "na ah" and name calling like a little child ๐คฆ
Eric ******
@Jordee *****
it's irrelevant what they said now. The rules are changing. Not sure I would ignore them again.Paul ***********
@Jordee *****
.. Ah still rambling I see .. No game over as never a game to begin with ๐Jordee ******
@Paul **********
Game over for you.Paul ***********
@Jordee *****
ah back to the rambling gibberish I see ๐คฆJordee ******
@Paul **********
We will review the visas of those British soldiers. Legacy of the pirate empire.Signed: Ittipol Ittisarnronnachai.
๐คฃ
Jordee ******
@Paul **********
You're a pain, sir, aren't you? Please massage your neck and forget about this matter.The heat of the sun is killing you.
Paul ***********
@Jordee *****
โ OK not the same person..are we done now princess..you finished ranting and pouting โjolly good carry on boy ๐
Jordee ******
@Paul **********
๐๐๐๐Dude, you're really rambling.Can you do me a favor? Write a message to Cassius and tell him it's me!
Two people will be laughing at your expense.
Paul ***********
@Jordee *****
I bet you and Cassius are the same person and these are sock puppet accounts.. ๐๐Paul ***********
@Jordee *****
good for you.. Want you want a ticker tape parade.. No dyslexia princess but thanks for asking..Jordee ******
@Paul **********
Yes, definitely your ears are waxed and your vision is blurry, I already said that I sent it weeks ago.Or maybe "Do you have dyslexia?"
Paul ***********
@Jordee *****
you are rambling.. Wait and see ๐Jordee ******
@Paul **********
Yes, I've read that document a couple of times already, but enough is enough.In case your ears are waxed.
I am saying that based on my real-life experience, meaning, I am saying it again, going in person to talk from human to human, they told me nothing would happen.
Does it tell you something based on my real-life experience?
And I'm not the only one they told this to, exactly like they told me.
I asked ( in person)
-Do I have to send it?
Yes.
- And if I don't send it?
Nothing will happen.
Paul ***********
@Jordee *****
here ya go once again in case your sight is failing ๐๐..Paul ***********
@Jordee *****
you are rambling princess... You stated I was making stuff up.. I cited sources.. Now you are pouting like a little child... ๐คฆJordee ******
@Paul **********
What are you talking about? You're too hot.Give yourself a neck massage.
Cassius Kingsley same boat as me
Oh, and neither of us are kids.
Weeks ago, I already sent my documents, but before that, I expressly went to my bank to ask, and if I donโt send them, what happens? They said, "No, nothing happens." Kasikorn.
Cassius **********
@Paul **********
When I got the text last year, and the deadline for the information, I gave them a call and they explained it was compulsory. I asked what would happen if I didn't submit the information, they said nothing. I asked, would they close my account? They said no. But I have to submit it? Yes. But nothing happens if I don't? Yes.I was supposed to submit it in December I think? I did not.
Andy **********
@Cassius *********
which bank?? ๐คPaul ***********
@Cassius *********
having been through CRS with my Singapore accounts.. If you refuse to give them what they are looking for your account is classed as high risk and at a point in the future..You will receive an email or letter asking you to remove your funds from their bank..
It was common practice a few years ago in Europe when CRS was implemented..
Trust me it will happen eventually in Thailand ๐
Thus is just the initial phase of implementation
Peter *******
Can we ask which Bank ?
Connie **********
@Peter ******
I just got the same from Krungthai
Robin *******
@Connie *********
me to a letter in EnglishBarry ********
OP@Peter ******
KasikornPeter *******
Thank you ๐
Pete *******
Yes itโs just standard banking request. They want you to confirm your tax residency.
Leong ***********
Yes, you need to reply to them. Give them your home country tax reference number.
This is for countries to mutually share bank account information internationally. See Common Reporting Standards (CRS).
This is for countries to mutually share bank account information internationally. See Common Reporting Standards (CRS).
James ******
@Leong **********
Americans getting a Thai bank account already have to give all their information for the United States and we have to tell the United States how much money we have in our account every yearLeong ***********
@James *****
, not everyone complies, henceโฆโฆJames ******
James *********
@James *****
so transferring money from US bank (already taxed) to my Thai bank via Wise will then appear as an untaxed deposit in my Thai bank and then I will be double taxed?James ******
@Leong **********
you don't have to comply with the bank sends it to the US government and once they realize you have money in your bank and don't reported they will take all the money out of your bank +100% fine. Up to you. Nothing happens when you report it, if you are leagalActivity
54 joined54
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