Posted by: sajalshakya May 9, 2024
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Looks like Nepali banks require copy of passport and W9 Form for US passport holders per FATCA rules.
W9 form asks for taxpayer ID (social security number). I am assuming the bank will report any deposits or interest earned to US tax authorities.
Just wondering how safe is it to provide social security number to banks in Nepal. Is there a potential for misuse? Not sure how good banks are in Nepal as far as protecting private info and if there is a risk of any rogue employee trying to misuse the Ss#.
W9 form asks for taxpayer ID (social security number). I am assuming the bank will report any deposits or interest earned to US tax authorities.
Just wondering how safe is it to provide social security number to banks in Nepal. Is there a potential for misuse? Not sure how good banks are in Nepal as far as protecting private info and if there is a risk of any rogue employee trying to misuse the Ss#.