USA PATRIOT Act Requirments

• Section 326 of the USA PATRIOT Act requires all financial institutions to collect certain information to verify the identities of their customers. Banks and investment firms must acquire your taxpayer identification number (Social Security number, employer identification number or other identification number) to comply with this law.
  
  

Tax Reporting and Benefit

• The IRA was designed specifically to provide a tax benefit to the saver. The IRS uses your Social Security number to track your tax information. You must use the same number to ensure your IRA receives proper tax treatment.
  
  

Non-Citizens and IRA Benefits

• IRA tax benefits can vary depending on your tax status. Foreign nationals living in the U.S. and paying tax under a form of identification other than a Social Security number should consult an investment professional regarding their specific situations, as certain benefits of an IRA may not apply.