My UK bank sent me a 'Individual Self Cert Form' a good few months back, along with one for the wife. We have a joint bank account. I filled them out and sent them off. 
Other day I get new forms to fill out. I asked others UK farangs if they got them and the response was 'no'. I just wondered if any other members on here had received similar forms. The form starts off

 

 

Quote

 

Individual Self Certification Form.

The various UK regulations for automatic exchange of financial account information impose obligations on UK financial institutions to identify, maintain and report information about tax residence (which includes citizenship in the case of the USA), of individuals and entities for whom they maintain financial accounts. Therefore, please complete and return the information requested. We may be required to share this information about you with the associated tax authorities.

 

There appears to be no questions on the form that they don't already know the answers to. Would there be a problem if I just binned it or am I legally bound?

I binned mine. They were sent to an old UK address I had. The tax office have my Bangkok and UK addresses.

Sent from my SM-G930F using Thailand Forum - Thaivisa mobile app

Binned the first form but sent the 2nd form back as the bank sent another one which is strange because they said if we don't hear from you will use the previous information we have.

HMRC know my retired situation anyway.

On ‎31‎/‎12‎/‎2017 at 2:31 PM, Rally123 said:

There appears to be no questions on the form that they don't already know the answers to. Would there be a problem if I just binned it or am I legally bound?

Potentially they could, not saying they would, close your account for not providing the info requested.

This appears to be down to the proliferation of CRS (Common Reporting Standards) and anti money laundering "know your customer" legislation. There have been quite a few threads on here with posters asking if they have to provide a Thai TIN for example.

 

I have  received different forms from several different financial institutions who know I am living in Thailand.

 

Found this simple explanation here -

Guidance for individual self-certification form.pdf

 

Topt, thank you for that.