K bank E-mail with Tax Forms attached ?

[JohnnyBD]

1 hour ago, Gobbler said:

Neither my son nor I have received this email.  Good. I would ignore it.

After reading many of the posts, it appears the emails are being sent mostly to non-US citizens. I didn't get the email either. I filled out the forms when I opened my accts over the past 8 years.

[KhunBENQ]

21 hours ago, Lacessit said:

However, I don't see any need to do so until Immigration starts wanting to see tax returns.

That's the one and only threat

[Funkymover]

I must have asked a 1000 times and still do not get the answer to my question, even asked kasikorn, waited  5 days, 4 emails and all they did is tell me what is already on the form, but not answer my question. 

so again I am asking,, for non usa.. what is this question asking. is it asking for the address that my account  is registered too ? I own a condo  and it is registered to that address. 

 

ท่านมีที่อยู่เพื่อการติดต่อ หรือด าเนินการเกี่ยวกับบัญชีที่เปิดไว้หรือมีอยู่กับกลุ่มธุรกิจทางการเงินธนาคารกสิกรไทย แต่เพียงที่อยู่เดียวซึ่งเป็นที่อยู่ สา หรับรับไปรษณียแ์ ทนหรือที่อยู่สา หรับการส่งต่อ ใช่หรือไม่ Do you have a hold mail or in care of address as the sole address for the account opened or held with KASIKORNBANK FINANCIAL CONGLOMERATE

 

It then states if you tick yes.  you have to complete W-8BEN but looking at that form, it looks as if its for usa citizens only , has any property owner answered this question 

 

thanks 

 

 

[scubascuba3]

4 hours ago, garygooner said:

People are filling the forms out differently. Staff giving different advice. If you don't have a Thai TIN, but you are staying here more than 180 days, you don't have to check that you have tax residency in another country and give NI number for example. 

You can probably write 'no income' and 'savings prior to 2024'  

another different advice

[Funkymover]

1 hour ago, scubascuba3 said:

another different advice

thanks, but again, you are guessing, , to me , it looks like they are asking if i have a thai address registered with my account.  and then if i tick yes, i have to somehow  complete the other form that is for usa residents..  i have not  had any one tell me, what that question means, and any other property owner, tell me what they ticked...  thanks for trying though.. 

 

 

[redwood1]

23 hours ago, chiang mai said:

RW still doesn't know if Thailand is going to attack somebody or whether everybody is supposed to go out and buy small nails.

 

All I have to say is where would you be today with out all my great tax advice...

[topt]

7 minutes ago, redwood1 said:

 

All I have to say is where would you be today with out all my great tax advice...

Damn, I must have missed it - how many pages do I have to go through to find these pearls of wisdom............

[Upnotover]

1 hour ago, Funkymover said:

thanks, but again, you are guessing, , to me , it looks like they are asking if i have a thai address registered with my account.  and then if i tick yes, i have to somehow  complete the other form that is for usa residents..  i have not  had any one tell me, what that question means, and any other property owner, tell me what they ticked...  thanks for trying though.. 

 

 

That's not what they are asking.  Ought to be as plain as day by now.  If you have a real address, maybe even where you live, attached to your account the answer is most definitely NO.

[Funkymover]

7 minutes ago, Upnotover said:

That's not what they are asking.  Ought to be as plain as day by now.  If you have a real address, maybe even where you live, attached to your account the answer is most definitely NO.

thanks for the reply  though, how is this plain  of day , when i have asked numerous times and no one has been able to tell me . so what are they actually asking ?  to me it looks like they are asking,, do you have a  mail or address that is attached to your  kasikorn account.. but you say they are not asking that,, so what are they asking and why do i tick no ?  thanks,,, but this driving me nuts now,, i have asked so many people,, and no one can give me the answer , even kasikorn after waiting one week and 4 emails , did not give me the answer.  

[Upnotover]

5 minutes ago, Funkymover said:

thanks for the reply  though, how is this plain  of day , when i have asked numerous times and no one has been able to tell me . so what are they actually asking ?  to me it looks like they are asking,, do you have a  mail or address that is attached to your  kasikorn account.. but you say they are not asking that,, so what are they asking and why do i tick no ?  thanks,,, but this driving me nuts now,, i have asked so many people,, and no one can give me the answer , even kasikorn after waiting one week and 4 emails , did not give me the answer.  

A "hold mail or in care of address " is not a real address.  It is a mailing address.  It is not where you live.  If you have a real address and that is the one attached you your account then answer NO.

[Funkymover]

1 minute ago, Upnotover said:

A "hold mail or in care of address " is not a real address.  It is a mailing address.  It is not where you live.  If you have a real address and that is the one attached you your account then answer NO.

aah ok, now that makes sense,  and you are the first person who has given me an educated reply ,, so thanks for that 

[MJCM]

11 minutes ago, Funkymover said:

aah ok, now that makes sense,  and you are the first person who has given me an educated reply ,, so thanks for that 

Oooh Really? I replied to your question on Tuesday with @Upnotover previous answer on this
 

 

 

[delray]

4 hours ago, Funkymover said:

I must have asked a 1000 times and still do not get the answer to my question, even asked kasikorn, waited  5 days, 4 emails and all they did is tell me what is already on the form, but not answer my question. 

so again I am asking,, for non usa.. what is this question asking. is it asking for the address that my account  is registered too ? I own a condo  and it is registered to that address. 

 

ท่านมีที่อยู่เพื่อการติดต่อ หรือด าเนินการเกี่ยวกับบัญชีที่เปิดไว้หรือมีอยู่กับกลุ่มธุรกิจทางการเงินธนาคารกสิกรไทย แต่เพียงที่อยู่เดียวซึ่งเป็นที่อยู่ สา หรับรับไปรษณียแ์ ทนหรือที่อยู่สา หรับการส่งต่อ ใช่หรือไม่ Do you have a hold mail or in care of address as the sole address for the account opened or held with KASIKORNBANK FINANCIAL CONGLOMERATE

 

It then states if you tick yes.  you have to complete W-8BEN but looking at that form, it looks as if its for usa citizens only , has any property owner answered this question 

 

thanks 

 

 

 

Part III Certification
Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief it is true, correct, and complete. I further certify under penalties of perjury that:
• I am the individual that is the beneficial owner (or am authorized to sign for the individual that is the beneficial owner) of all the income or proceeds to which this form
relates or am using this form to document myself for chapter 4 purposes;
• The person named on line 1 of this form is not a U.S. person;

 

It does not seem like W-8BEN is for US citizens if the certification for the form is that you are not a US person. Seems like the opposite to me.

 

It looks like a US form to say you are not a US person. As to if none US people need to complete US forms the answer if probably no. As to if none US banks need to dance to the US music the answer is yes if they want to stay in business. Given a choice between keeping some none US customers who won't fill out a US form or being blocked form the global financial markets my guess is that eventually the bank will choose to drop customers who don't conform but that may take many years of going through forms and linking people, addresses and bank accounts together before that actually happens.

 

 

 

[Funkymover]

27 minutes ago, MJCM said:

Oooh Really? I replied to your question on Tuesday with @Upnotover previous answer on this
 

 

 

sorry  , maybe i missed yours as the topic is getting inundated with so many comments on here

[MJCM]

7 minutes ago, Funkymover said:

sorry  , maybe i missed yours as the topic is getting inundated with so many comments on here

 

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[Etaoin Shrdlu]

4 hours ago, Funkymover said:

I must have asked a 1000 times and still do not get the answer to my question, even asked kasikorn, waited  5 days, 4 emails and all they did is tell me what is already on the form, but not answer my question. 

so again I am asking,, for non usa.. what is this question asking. is it asking for the address that my account  is registered too ? I own a condo  and it is registered to that address. 

 

ท่านมีที่อยู่เพื่อการติดต่อ หรือด าเนินการเกี่ยวกับบัญชีที่เปิดไว้หรือมีอยู่กับกลุ่มธุรกิจทางการเงินธนาคารกสิกรไทย แต่เพียงที่อยู่เดียวซึ่งเป็นที่อยู่ สา หรับรับไปรษณียแ์ ทนหรือที่อยู่สา หรับการส่งต่อ ใช่หรือไม่ Do you have a hold mail or in care of address as the sole address for the account opened or held with KASIKORNBANK FINANCIAL CONGLOMERATE

 

It then states if you tick yes.  you have to complete W-8BEN but looking at that form, it looks as if its for usa citizens only , has any property owner answered this question 

 

thanks 

 

 

 

I think the W-8BEN is used for non-US persons who have income from US sources and who may be subject to US withholding taxes. Those who do have US-sourced income and are not US persons, can either avoid US withholding taxes or have reduced US withholding taxes under tax treaties if they complete the W-8BEN.

 

I am not sure why a Thai bank would request this form unless it sold investment products such as mutual funds that provided US-sourced income.

[Keeps]

59 minutes ago, Etaoin Shrdlu said:

 

I think the W-8BEN is used for non-US persons who have income from US sources and who may be subject to US withholding taxes. Those who do have US-sourced income and are not US persons, can either avoid US withholding taxes or have reduced US withholding taxes under tax treaties if they complete the W-8BEN.

 

I am not sure why a Thai bank would request this form unless it sold investment products such as mutual funds that provided US-sourced income.

I have previously had to complete this form to hold US shares via my UK online investment platform (Hargreaves Lansdown). It is regarding a reduction in withholding taxes in respect of US shares. It seems that the form is good for 3 years then needs to be completed again. Below is from a message received from Hargreaves explaining this:-

 

"This form allows Hargreaves Lansdown to claim a reduction in the level of US tax on your dividends and interest from US shares depending on your personal circumstances. Withholding tax rates can currently be reduced from 30% to 15%, or to 0% if the holding is held in a Self-Invested Personal Pension (SIPP). Please remember that tax rules change.

 

This form is valid for three calendar years after the year in which it was signed, and Hargreaves Lansdown will inform you before your form expires."

[oldcpu]

15 hours ago, Etaoin Shrdlu said:

I am not sure why a Thai bank would request this form unless it sold investment products such as mutual funds that provided US-sourced income.

 

I speculate - possibly if one has a US$ account with the Thai bank.

[chiang mai]

16 hours ago, Etaoin Shrdlu said:

 

I think the W-8BEN is used for non-US persons who have income from US sources and who may be subject to US withholding taxes. Those who do have US-sourced income and are not US persons, can either avoid US withholding taxes or have reduced US withholding taxes under tax treaties if they complete the W-8BEN.

 

I am not sure why a Thai bank would request this form unless it sold investment products such as mutual funds that provided US-sourced income.

Non resident green card holders who receive US Social Security payments.

[Pattaya420]

I got email. I am from EU and UK although don't live there years. No bank acc in EU home country. Got UK acc but don't use.

 

I live in Thailand.

 

I did transfer crypto and sold in thai exchange Bitkub in 2024, withdrew to my Kbank. Tho there is no international transfers, it's thai bank to thai bank. Is this issue or ? I don't have thai TIN either. Just wonder what to do. Fill CRS form, or close Kbank acc, got 2 other banks.

 

Also In UK I got NIN only is that it?

 

In home country I don't know any TINs

[Funkymover]

who is the W9 FORM  for ?

[Funkymover]

who is the W9 form for ?  americans ?

[Srikcir]

On 11/23/2024 at 9:23 PM, G_Money said:

If these are US forms the TIN is a U.S. issued number, not completely necessary as your SSN is sufficient but some people don’t want to use their SSN

Regarding the US-Thailand Double Taxation Treaty, both countries need to see what the taxpayer is declaring to both countries that might result in additional tax in Thailand. So both a US and Thai TIN would be required.

I assume a similar bank request would be made where Thailand has other Double Taxation Treaties - Thailand currently has 61 double tax agreements. 

[NanLaew]

33 minutes ago, Funkymover said:

who is the W9 form for ?  americans ?

Yes.

 

Foreigners need to file a W8, if applicable.

[G_Money]

13 minutes ago, Srikcir said:

Regarding the US-Thailand Double Taxation Treaty, both countries need to see what the taxpayer is declaring to both countries that might result in additional tax in Thailand. So both a US and Thai TIN would be required.

I assume a similar bank request would be made where Thailand has other Double Taxation Treaties - Thailand currently has 61 double tax agreements. 

I already file U.S. every year so they already know along with my FBAR with the US government for foreign savings accounts exceeding 10k USD.

 

LTR visa holders are also exempt from Thai tax.  One of the benefits.

[NanLaew]

27 minutes ago, G_Money said:

I already file U.S. every year so they already know along with my FBAR with the US government for foreign savings accounts exceeding 10k USD.

 

LTR visa holders are also exempt from Thai tax.  One of the benefits.

 

Even the LTR holders parking their bus here for 180 days or more?

[JimGant]

53 minutes ago, Srikcir said:

So both a US and Thai TIN would be required.

Not certain of the context for this statement, but the KBank request for info only requires a Thai TIN -- if you have "Thai taxable income," meaning if income subject to Thai taxation (i.e., assessable income) exceeds deductions, exemptions, and the 150k freebie. If not, you leave that request -- on page one of KBank request -- blank. Then explain why you left it blank on page two.

 

If a US citizen, you're asked to provide Form W9 -- which will provide your US SSN, which equates to a TIN.

[G_Money]

29 minutes ago, NanLaew said:

 

Even the LTR holders parking their bus here for 180 days or more?

Yes.  LTR.BOI.GO.TH

[Nid_Noi]

2 hours ago, Funkymover said:

who is the W9 FORM  for ?

Anybody who has assets in the US and gets revenue from his investment. As shareholder or bond holder of several listed corporations these forms are part of my income tax filing.

you may chose to pay by withholding tax at the source or by adding these revenues to your tax filing documents in your country of fiscal residence.

Based on your income bracket either one of the options may be better than the other one.

[factseeker]

On 11/23/2024 at 6:43 PM, trevoromgh said:

I am a KBank customer and have also received this email today and scratching my head about what to do about it specially as I only visit Thailand for less than 180 days each year and NOT a US citizen. Is this 'Support your local Thai accountant' week or something?

Hi,

Exactly same position as yourself - I have only kept my Account open with KK as was considering trying for a DTV Visa for future use.  Used to have a 12 month Retirement Visa but that went out at Covid time,   Same as yourself never  180 days or more - just liked to visit each year - Bank Account there useful.

On 11/23/2024 at 6:43 PM, trevoromgh said:

I am a KBank customer and have also received this email today and scratching my head about what to do about it specially as I only visit Thailand for less than 180 days each year and NOT a US citizen. Is this 'Support your local Thai accountant' week or something?

Hi,

Exactly same position as yourself - I have only kept my Account open with KK as was considering trying for a DTV Visa for future use.  Used to have a 12 month Retirement Visa but that went out at Covid time,   Same as yourself never  180 days or more - just liked to visit each year - Bank Account there useful.  All Ok at UK end - they are aware I hold the KK Account - but with the size of the Form detail and sending back of Internet  - not happy to get involved.