K bank E-mail with Tax Forms attached ?

[anrcaccount]

15 hours ago, The Cyclist said:

Read the notes in red at the bottom of Part 2.

 

Where it says for example Amount of  Income exempt from Taxation / Type of income exempt from Taxation / Your TIN, or for Brits NI number

 

Then read the notes at Part 3 and 4

 

https://www.kasikornbank.com/th/Download/Level4_doc/FATCA-CRS-FORM_INDIVIDUAL.pdf

 

IMO - you misinterpret this part of the form.

"For example: Amount of income exempted to taxation/ Types of income exempted to taxation / Under issuing TIN"

It needs a reason, not the detail you are outlining . Each one, is an example of a reason why a TIN is not being supplied. "Forget TIN", is listed as an unacceptable reason with a cross icon.......

So, for example, you could state: 

"Amount of Income is exempt level" or

"Income type is exempt, gifts, savings, remitted capital" or

"TIN is under issuance process"  ( I think this is what "Under Issuing TIN" means. I do not believe "Under Issuing TIN" means they are asking for a foreign tax ID linked to a specific amount and type of income. This doesn't hold up logically. ) 

KBank has no need to collect the detail of the amount of your exempt income ( at what point in time would this be anyway) , and the category of it. You do not need to file a tax return to Kbank. Taking your interpretation would almost amount to a line by line filing.

 

This isn't how these KYC forms work. 

 

[Presnock]

1 hour ago, prakhonchai nick said:

"2. provide a certified true copy of your passport; ",

 

Certified by who?  The Lotus's check out girl?? 

 

If a Lawyer needed, they generally charge 1,000bt up to stamp and sign!!!  Will Kasikorn foot the bill?

 

And why?  A copy passport was taken from the original  by bank staff when we opened the account

yeah just copy the data page on a sheet of white paper and then sign it - same as we do for immigration - WE are certifying that it is valid.

[Red Phoenix]

40 minutes ago, chang50 said:

I'm interested in the TIN request form I'm going to kbank today can I just ask for one?

The W9 Form that Kasikorn added to the e-mail is the US Internal Revenue Service document.  It is in PDF-format, and that format is not accepted to be added as attachment to this post.

Send me a PM with your e-mail address and I will send it to you (but obviously only needed when you are a US citizen or are US tax-eligible).

[The Cyclist]

4 minutes ago, anrcaccount said:

MO - you misinterpret this part of the form.

 

I haven't misinterpretted anything.

 

Money going into your KBank account.

 

Exempt taxable income

 

Mine would read

 

Baht  xxxx / Govenment Pension / My UK NI Number.

 

6 minutes ago, anrcaccount said:

KBank has no need to collect the detail of the amount of your exempt income ( at what point in time would this be anyway) , and the category of it. You do not need to file a tax return to Kbank. Taking your interpretation would almost amount to a line by line filing.

 

Banks, as the the 1st point of contact under CRS do need to collect the data, as per their reporting obligations under CRS, the 2nd point of contact will be RD Offices, and the 3rd point of contact will be the BoT.

 

As always, you do whatever you think applies to you

[Red Phoenix]

19 minutes ago, BritManToo said:

What if you fill in the forms and inadvertently mistype your Belgian Tax number? 

Interesting suggestion. Kasikorn might just leave it at that, but it might 'wake up sleeping dogs' at the Thai or Belgian tax-authorities so I am not inclined to try that out... 

[Red Phoenix]

22 minutes ago, topt said:

Just tell them you don't need a Thai TIN. You think the bank is going to check?

I think the Thai IRS would be alerted that a foreign Thai bank-account holder did not apply for a Thai TIN.

Unfortunately it's not up to use to decide whether a Thai TIN is needed for our tax-situation, otherwise everybody would say 'not needed' and leave it at that.  

[Upnotover]

13 minutes ago, Red Phoenix said:

The W9 Form that Kasikorn added to the e-mail is the Thai Internal Revenue Service document to apply for a TIN.  It is in PDF-format, and that format is not accepted to be added as attachment to this post.

Send me a PM with your e-mail address and I will send it to you.

Are you sure it's a Thai form - the only "W9" i've seen is from the US IRS. 

[BritManToo]

10 minutes ago, Red Phoenix said:

I think the Thai IRS would be alerted that a foreign Thai bank-account holder did not apply for a Thai TIN.

Unfortunately it's not up to use to decide whether a Thai TIN is needed for our tax-situation, otherwise everybody would say 'not needed' and leave it at that.  

My Thai wife doesn't have a TIN, and she's lived here nearly 50 years.

 

Worst case, I can get a VISA outside of Thailand (no money in Thai bank), not have a bank account in my name here, and get her to open a bank account in her name (and on my phone) for me to use in Thailand.

[Red Phoenix]

3 minutes ago, Upnotover said:

Are you sure it's a Thai form - the only "W9" i've seen is from the US IRS. 

I apologize for providing incorrect information and you are right, the W9-Form that Kasikorn sent out is a US IRS document. 

[CallumWK]

1 hour ago, Red Phoenix said:

Of course I could say that I travel a lot and am not in any foreign country +180 days a year, but when they request me to provide a copy of my passport pages, that would of course be conclusive proof that I am more than 180 days a year in Thailand,

 

They don't need a copy of your passport pages. In Belgium they have the "kruispunt bank", and all that info is in there already.

1 hour ago, Red Phoenix said:

True, the Belgian tax-authorities may tax me on the interest of my 800K on my Kasikorn bank-account, if the Thai tax I paid o that  is lower than what Belgian authorities would apply, but the amount of administrative hassle for getting hold of a very small amount would make it not worth pursuing for them (but you never know in bureaucracies).

 

Withholding taxes in Belgium are same as Thailand, plus you can claim them back from Thai revenue office. On the other hand, if you live in Thailand, you can get exemption of withholding taxes on your Belgian accounts. My bank just send me the documents.

 

It was an email initiated by them because they know I live in Thailand, and this was the heading of the email.

 

Dear sir,

Due to your stay in a country considered high-risk according to the law of September 18, 2017 on the prevention of money laundering, the financing of terrorism and the restriction of the use of cash, we are obliged to obtain additional information.

[marino28]

Maybe the people that got this email when they open the account they put a foreign adress for contact adress or something ? 

[newbee2022]

On 11/23/2024 at 8:41 PM, offset said:

As anybody had an E-mail from Kbank asking to fill out 3 forms and return to them

 

Or is this a scam

No, it's no scam unfortunately. Send it back until 20.12.

The battle begins

[anrcaccount]

27 minutes ago, The Cyclist said:

I haven't misinterpretted anything.

 

Money going into your KBank account.

 

Exempt taxable income

 

Mine would read

 

Baht  xxxx / Govenment Pension / My UK NI Number.

 

Yes, I believe you have misinterpreted this, and should reconsider.

 

This part of the form is required to be completed for those who don't have a Thai TIN, and are not currently a resident of a foreign jurisdiction for tax purposes. 

 

Here is what the form states:

 

Please explain in the following section why you are unable to obtain a TIN if you selected Reason (B) above or if you don’t have TINs in any countries as per Question 1 of Part 2 above. Mandatory for non-Thai citizens who have taxable income in Thailand and do not provide the Thai-TIN.
For example: Amount of income exempted to taxation/ Types of income exempted to taxation / Under issuing TIN
For example: Forget TIN X

 

 

It asks for a reason that you haven't provided a Thai TIN.  Then it gives examples of valid reasons , and one invalid reason ( "forget TIN")

 

It's not asking you to provide "Money going into your KBank account" ( of course, KBank can already see that!) Nor is it asking for you to list your income, the category of that income that makes it exempt from Thai taxation, and a foreign tax ID. Here IMO you have made an incorrect interpretation.

 

If you are a current foreign resident with an foreign Tax ID, you would have listed that foreign Tax ID in the part of the form above ( Part 2, 1.) , and you wouldn't be completing this part of the form. 

 

 

[DrJack54]

Not about to read the 8 pages however have couple of questions if someone can advise.

1. Why just Kasikorn customers (at this point)

2. I trashed the email as soon as I opened it since to me (on face value) seemed a scam.

3. Can you deal with bank directly in person

[hotandsticky]

6 minutes ago, marino28 said:

Maybe the people that got this email when they open the account they put a foreign adress for contact adress or something ? 

 

 

Nope.

[newbee2022]

On 11/23/2024 at 10:00 PM, CharlieH said:

From what I can make of the forms it's all about US citizens  etc

No, it's for everybody who got an account with Kasikorn. Other banks will follow

[hotandsticky]

2 minutes ago, DrJack54 said:

Not about to read the 8 pages  ......

 

 

Good job we don't take the same attitude to your visa related posts.

 

 

Showing a bit of humility (and understanding of those who HAVE bothered to read/contribute to those 8 pages) by removing the above would do you no harm.

[newbee2022]

2 minutes ago, DrJack54 said:

Not about to read the 8 pages however have couple of questions if someone can advise.

1. Why just Kasikorn customers (at this point)

2. I trashed the email as soon as I opened it since to me (on face value) seemed a scam.

3. Can you deal with bank directly in person

There is no "deal". I called Kasikorn, they said all customers get this email to the registered address. So, to delete was not the brightest idea. Better to prin and fill and send it back

[The Cyclist]

2 minutes ago, DrJack54 said:

Not about to read the 8 pages however have couple of questions if someone can advise.

1. Why just Kasikorn customers (at this point)

2. I trashed the email as soon as I opened it since to me (on face value) seemed a scam.

3. Can you deal with bank directly in person

 

You can print off a copy from the KB website and fill it and hand in at the bank.

 

All other banks will follow suit, its a requirement under CRS and not KB just being obnoxious.

[Drumbuie]

https://www.expattaxthailand.com/crs-information-request-thai-banks/

 

Apparently it is indeed genuine. Shall be writing polite letter to Data Protection division...

[Presnock]

6 hours ago, CrossBones said:

It applies to everyone not only US citizens. Probably Thai citizens as well.

One of the forms is for US citizens/green card holders. The other is for non us citizens.

 

You have to fill this out

 

I wonder if i can submit these documents in person at a bank, so i dont need to go through the trouble of getting authorised notarized passport copy.

 

I am interested to know if Thai people have been receiving this form? FATCA/CRS Individual Self-Certification by Kasikorn.

 

for security as it contains your banking info plus data on you, best to not use email but return to bank in person iMHO

 

 

 

[Presnock]

2 hours ago, quake said:

 

No, they will only except Big-C check out girls, certification of your passport.

 

Yes,  it's all part of big brother checking up on us. we can't escape it all.

But we all know the bad boys,  will still get away with stuff around the world.

 

 

immigration accepts your copy of pp with your signature certifying it!

[JohnnyBD]

9 minutes ago, DrJack54 said:

Not about to read the 8 pages however have couple of questions if someone can advise.

1. Why just Kasikorn customers (at this point)

2. I trashed the email as soon as I opened it since to me (on face value) seemed a scam.

3. Can you deal with bank directly in person

You can fill out the forms in the bank. I am US citizen, and I had to fill out the forms when I opened my accts at Kasikorn, SCB and Bangkok Bank. I did not receive an email from Kasikorn.

[Gobbler]

13 hours ago, MangoKorat said:

Not sure, I guess I should read the forms first and see what information they are asking for.  I no longer meet their criteria for opening an account - I wanted a second account which they refused as I no longer have a Non O or a Work Permit. I just don't want any problems with them as I have several regular payments to make.

 

Are you here or not? Go to a different Kbank. 

 

 

[Gobbler]

13 hours ago, MangoKorat said:

Not sure, I guess I should read the forms first and see what information they are asking for.  I no longer meet their criteria for opening an account - I wanted a second account which they refused as I no longer have a Non O or a Work Permit. I just don't want any problems with them as I have several regular payments to make.

 

Are you here or not? Go to a different Kbank. 

 

 

[JohnnyBD]

5 minutes ago, Presnock said:

I am interested to know if Thai people have been receiving this form? FATCA/CRS Individual Self-Certification by Kasikorn

My Thai wife has accts at Kasikorn also, and she has not received this email.

[Presnock]

18 minutes ago, DrJack54 said:

Not about to read the 8 pages however have couple of questions if someone can advise.

1. Why just Kasikorn customers (at this point)

2. I trashed the email as soon as I opened it since to me (on face value) seemed a scam.

3. Can you deal with bank directly in person

Best to deal directly with bank as banking and id info should not be sent via email unless encrypted. good luck

as I noted elsewhere expattaxesthailand.com will do a free webinar on filling out the documents 29 Nov at 1 PM.  Free consultation for 15 minutes can be made.  register at the website for webinar

[Gobbler]

When I came here 10 years ago, I had a Thanachart account, which was still good.  I opened 2 accounts in Bangkok. I got a call from the branch saying I forgot to sign some papers. 

 

I went to the branch and the lady pushed IRS forms at me. I slid my chair back and stood up.  "What is this," I asked her?  She said "Obama wants to know about you."  I told her that Obama can go F himself and I won't fill in or sign any of those documents, I will close my account first. 

 

I transferred all my money to Kbank.  I waited 3 months. Nothing happened. I move the money back and never heard about it again. 

 

They are fishing. If you want to bite on the bait, that is your choice.

[CallumWK]

14 minutes ago, Drumbuie said:

Shall be writing polite letter to Data Protection division...

So you think sending an email to your private email address, which you gave them when you opened an account, is an infringement on the laws of data protection?

 

 

[Upnotover]

6 minutes ago, JohnnyBD said:

My Thai wife has accts at Kasikorn also, and she has not received this email.

She doesn't qualify.  From the earlier quoted mail from Kasikorn;

 

"is an email that the bank has sent to foreign customers who have deposit account with Kasikornbank and pay taxes abroad and have never filled out the FATCA/CRS form."