# CRS form, What it is and why you shouldn't do what the bank says **URL:** \ **Category:** Money\ **Tags:** globalbanking, banking\ **Created:** [June 6, 2022, 5:02pm UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473 "2022-06-06T17:02:07Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![Andrew](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/andrew/32/179806_2.png) [@Andrew](https://tw.forumosa.com/u/Andrew)\ **Post date:** [June 7, 2022, 1:11am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/21 "2022-06-07T01:11:38Z")
It’s not mentioned in the initial post, true, but it is what the thread is about, and I mentioned CRS in some of my replies. I agree with you that many banks ask for the info from foreigners by default, and a lot of people likely fill it in when they don’t need to. ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 7, 2022, 1:13am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/22 "2022-06-07T01:13:26Z")
When I was posting I actually searched for CRS and common reporting standard but couldn’t find a similar post anywhere ---
**Author:** ![bdog](https://forumosa-12829.kxcdn.com/letter_avatar_proxy/v4/letter/b/919ad9/32.png) [@bdog](https://tw.forumosa.com/u/bdog)\ **Post date:** [June 7, 2022, 1:18am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/23 "2022-06-07T01:18:03Z")
Thank you for posting the information. Why did you list yourself as a tax resident of Australia when you presumably generate your income here? ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 7, 2022, 1:20am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/24 "2022-06-07T01:20:17Z")
Because it’s like talking to a brick wall as the banks force you to fill it out the form the way they want . I now am more forceful because there are REAL consequences. ---
**Author:** ![bdog](https://forumosa-12829.kxcdn.com/letter_avatar_proxy/v4/letter/b/919ad9/32.png) [@bdog](https://tw.forumosa.com/u/bdog)\ **Post date:** [June 7, 2022, 1:21am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/25 "2022-06-07T01:21:46Z")
It reads like you were coerced to sign something without a full explanation, probably on the spot. Not at all surprised given my interactions with banks, actually any organisation whatsoever here. ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 7, 2022, 1:24am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/26 "2022-06-07T01:24:22Z")
“Tax residency” isn’t in their limited vocabulary. ---
**Author:** ![Andrew](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/andrew/32/179806_2.png) [@Andrew](https://tw.forumosa.com/u/Andrew)\ **Post date:** [June 7, 2022, 1:25am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/27 "2022-06-07T01:25:06Z")
> [@comfy123](#): > > When I was posting I actually searched for CRS and common reporting standard but couldn’t find a similar post anywhere Oh, I didn’t read your initial link before (because I already knew about not needing to complete the CRS info - I read into it quite a lot when I was opening my first bank accounts here). Is it your site that you’re promoting? ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 7, 2022, 1:27am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/28 "2022-06-07T01:27:56Z")
> [@comfy123](#): > > ed for CRS and common reporting standard but couldn’t find a similar post anywhere No, it’s a friends site. But I wrote that blog. ---
**Author:** ![flatlandr](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/flatlandr/32/175113_2.png) [@flatlandr](https://tw.forumosa.com/u/flatlandr)\ **Post date:** [June 7, 2022, 1:28am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/29 "2022-06-07T01:28:29Z")
I had the same situation when reporting a change of id number. They insisted that I need to give them my SIN number and I told them flatly, no I don’t. It took three different desk sitters and a couple of fake charm attempts to fail for them to finally acquiesce. ---
**Author:** ![TaipeiGuy2000](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/taipeiguy2000/32/155716_2.png) [@TaipeiGuy2000](https://tw.forumosa.com/u/TaipeiGuy2000)\ **Post date:** [June 7, 2022, 1:48am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/30 "2022-06-07T01:48:57Z")
Your friend has crappy annoying ads on his website. I hope I made you a few cents. ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 7, 2022, 1:53am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/31 "2022-06-07T01:53:37Z")
Sorry about that… It’s his first time setting them up and he’s working on reducing them by a lot… I have spoken to him and he’s fixing it today ---
**Author:** ![Shaun008](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/shaun008/32/209482_2.png) [@Shaun008](https://tw.forumosa.com/u/Shaun008)\ **Post date:** [June 7, 2022, 1:54am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/32 "2022-06-07T01:54:11Z")
> [@TaipeiGuy2000](#): > > Your friend has crappy annoying ads on his website. I hope I made you a few cents. Felt like clickbait or spam when i opened it, i noted it in the other thread. ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 7, 2022, 2:03am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/33 "2022-06-07T02:03:58Z")
Please check again. Most ads have been removed. Thanks for the feedback ---
**Author:** ![TaipeiGuy2000](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/taipeiguy2000/32/155716_2.png) [@TaipeiGuy2000](https://tw.forumosa.com/u/TaipeiGuy2000)\ **Post date:** [June 6, 2023, 4:03am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/34 "2023-06-06T04:03:27Z")
The link is down now. I wanted to read because I was asked to make a false CRS statement at the bank yesterday. I recently had to change my Taiwan ID because of an address change, so I went to visit a couple of banks. I was presented with an electronic form at Megabank where the English literally read “tax residency”. It showed the country that I am from where I have not been a tax resident for many years. Agent told me not to worry about it. I told them to change it. They managed to remove the TIN in the list, but not the primary tax residency listing. I told them I could not sign since the declaration was false. They were unable to change it. I did not sign and my Taiwan ID is not updated with Megabank. Should I even care? At another bank (Taihsin, for Richart account), I was handed a paper form and asked to sign my name. I noticed a check-box saying “I am a sole tax resident of Taiwan” which I quickly selected. The teller protested a bit, but I got away with that. ---
**Author:** ![jimbob132](https://forumosa-12829.kxcdn.com/letter_avatar_proxy/v4/letter/j/85e7bf/32.png) [@jimbob132](https://tw.forumosa.com/u/jimbob132)\ **Post date:** [June 6, 2023, 4:18am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/35 "2023-06-06T04:18:42Z")
> [@TaipeiGuy2000](#): > > I told them I could not sign since the declaration was false. They were unable to change it. I did not sign and my Taiwan ID is not updated with Megabank. Should I even care? There’s another thread about this. I had the same issue at Cathay United. The fault is with the Taiwan Tax Bureau issuing incorrect guidance and telling the banks to do this. You can submit a FSC complaint but that’s only a short term fix. Need to get the Tax bureau fined for their incorrect guidance. Whoever is in charge at the tax bureau for international tax has no idea what they are doing. > [@Take action against Taiwan bank tax residency tax certificates](https://tw.forumosa.com/t/take-action-against-taiwan-bank-tax-residency-tax-certificates/228635/126): > > I submitted a report to FSC after my ID changed and cathay united insisted on me signing a new CRS that declared myself of tax residents of my passport countries. I refused and closed my account. Had 8k NTD on the attached easycard, they said it would take 2 months to process a refund. > > Let me know if anyone wants to complain in a more public way, or perhaps focus complaints at a particular branch to make our efforts more effective. ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 6, 2023, 4:51am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/36 "2023-06-06T04:51:17Z")
> [@TaipeiGuy2000](#): > > Should I even care? Of course you should. Their system it seems is forcing you to make a false declaration. Complain to the FSC ---
**Author:** ![anon24369109](https://forumosa-12829.kxcdn.com/letter_avatar_proxy/v4/letter/a/3be4f8/32.png) [@anon24369109](https://tw.forumosa.com/u/anon24369109)\ **Post date:** [June 6, 2023, 4:55am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/37 "2023-06-06T04:55:37Z")
> [@TaipeiGuy2000](#): > > At another bank (Taihsin, for Richart account), I was handed a paper form and asked to sign my name. I noticed a check-box saying “I am a sole tax resident of Taiwan” which I quickly selected. The teller protested a bit, but I got away with that. When I was at Taiwan Co Operative bank last week I asked about this CRS. I showed them that on my Australian Bank app I am shown as Non Resident in Australia and shown on my Australian Bank as a Tax Resident of Taiwan. So at least for me if I opened a new account only shown as a tax resident of Taiwan. If you have an account overseas also ask your bank to update your address and phone to your Taiwan details. My bank has. ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 6, 2023, 4:57am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/38 "2023-06-06T04:57:16Z")
> [@anon24369109](#): > > When I was at Taiwan Co Operative bank last week I asked about this CRS. I showed them that on my Australian Bank app I am shown as Non Resident in Australia and shown on my Australian Bank as a Tax Resident of Taiwan. So at least for me if I opened a new account only shown as a tax resident of Taiwan. If you have an account overseas also ask your bank to update your address and phone to your Taiwan details. My bank has. The problem is that for APRC holders the banks will try to force you to write the country of nationality as your tax residence. ---
**Author:** ![Andrew](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/andrew/32/179806_2.png) [@Andrew](https://tw.forumosa.com/u/Andrew)\ **Post date:** [June 6, 2023, 4:58am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/39 "2023-06-06T04:58:34Z")
> [@anon24369109](#): > > When I was at Taiwan Co Operative bank last week I asked about this CRS. I showed them that on my Australian Bank app I am shown as Non Resident in Australia and shown on my Australian Bank as a Tax Resident of Taiwan. So at least for me if I opened a new account only shown as a tax resident of Taiwan. If you have an account overseas also ask your bank to update your address and phone to your Taiwan details. My bank has. You’re a Taiwanese citizen though - you should really make this clear whenever you’re reporting your experience with this stuff, because it makes a difference. ---
**Author:** ![comfy123](https://forumosa-12829.kxcdn.com/user_avatar/tw.forumosa.com/comfy123/32/258242_2.png) [@comfy123](https://tw.forumosa.com/u/comfy123)\ **Post date:** [June 6, 2023, 5:00am UTC](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473/40 "2023-06-06T05:00:57Z")
> [@Andrew](#): > > You’re a Taiwanese citizen though - you should really make this clear whenever you’re reporting your experience with this stuff, because it makes a difference. @anon24369109 He’s got a point. It makes a hell of a difference with this. As you even found when you asked Taiwan Cooperative about me [Previous page](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473.md?page=1) [Next page](https://tw.forumosa.com/t/crs-form-what-it-is-and-why-you-shouldnt-do-what-the-bank-says/220473.md?page=3)