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Old 29th April 2008, 12:15 PM
twostep twostep is offline
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I have to contradict you. BSA and MAL have been in effect since the 70s but became a focus of compliance issues after 9/11.
Neither state nor Federal law requires SSN/TIN for banking purposes. Most banks have adopted this requirement as in-house policy. Yes, banking transactions do get reported for taxation purposes based on reporting agreements. Taxes due such as capital gain will be withheld and paid to the appropriate agancy.
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