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the account if it maintains a list of the names, addresses, and account numbers of the persons for
which it was unable to secure taxpayer identification numbers, and provides that information to
the Secretary upon request. In the case of a non-resident alien, the bank is required to record the
person’s passport number or a description of some other government document used to
determine identification. Treasury believes that the requirements of section 103.34(a)(1) and (2)
are inconsistent with the intent and purpose of section 326 of the Act and incompatible with the
proposal.
Section 103.34(a)(3) currently provides that a bank need not obtain a taxpayer
identification number with respect to specified categories of persons
7
opening certain deposit
accounts. This proposed rule does not contain any exemptions from the CIP requirements.
Treasury is requesting comments on whether any of these exemptions should apply in the
context of the proposed CIP requirements in light of the intent and purpose of section 326 of the
Act.
Section 103.34(a)(4) provides that section 6109 of the Internal Revenue Code and the
rules and regulations of the Internal Revenue Service (IRS) promulgated thereunder shall
determine what constitutes a taxpayer identification number. This provision is continued in the
proposal. Section 103.34(a)(4) also provides that IRS rules shall determine whose number shall
7
The exemption applies to (i) agencies and instrumentalities of Federal, State, local, or foreign governments; (ii)
judges, public officials, or clerks of courts of record as custodians of funds in controversy or under the control of the
court; (iii) aliens who are ambassadors; ministers; career diplomatic or consular officers; naval, military, or other
attaches of foreign embassies and legations; and members of their immediate families; (iv) aliens who are accredited
representatives of certain international organizations, and their immediate families; (v) aliens temporarily residing in
the United States for a period not to exceed 180 days; (vi) aliens not engaged in a trade or business in the United
States who are attending a recognized college or university, or any training program supervised or conducted by an
agency of the Federal Government; (vii) unincorporated subordinate units of a tax exempt central organization that
are covered by a group exemption letter; (viii) a person under 18 years of age, with respect to an account opened as
part of a school thrift savings program, provided the annual interest is less than $10; (ix) a person opening a
Christmas club, vacation club, or similar installment savings program, provided the annual interest is less than $10;
and (x) non-resident aliens who are not engaged in a trade or business in the United States.