What should I do if my Thai bank requests urgent information regarding CRS?

@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.

@Nelly *****

information forms .. CRS

@Jonnie ******

That is the mail we received. Went to the bank and completed the documentation there and submitted at the bank.

@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 *********

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.

@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.

@Elías *******

there's about 120 countries who do CRS. You might be surprised

@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.

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.

yes potentially. Paw. and the tells you what is taxable.

@John *****

umm ok pretty much what I said mate

@Jordee *****

here ya go princess 👇

@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 🤦

@Cassius *********

which bank?? 🤔

@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 👍

Thus is just the initial phase of implementation

@Connie *********

me to a letter in English

Thank you 👍

@James *****

, not everyone complies, hence……