No, they are not.
And if they suddenly do, I will post it here as we should be getting those notices soon.
Guy
So it just says “ZZ” and your ARC number, without a Canadian ID number?
I got a reply from the FSC, but it seems to be just a template e-mail saying that they’ve passed my message on to the banks and asked them to deal with it (?):
金融監督管理委員會銀行局通知
本局已收到台端於112年3月29日對金融機構之申訴案件(民意信箱案件編號：2023******號)，為即時有效處理您的申訴案件，本局已立即以系統通知金融機構妥處並儘速直接回覆您並副知本局，因此將不再另行發函轉知金融機構並副知台端，特此告知。註1：如透過民意信箱申訴者，本局於轉知金融機構後，申訴案件將先行存查，惟仍將持續監控案件處理情形。
註2：本局在法律上無權要求或命令金融機構對消費者賠償損失、調降利率、或減免貸款本金、利息及違約金，且本局不是法院，無權對私權之民事糾紛作出具有約束力之決定。
DeepL translation:
Notice from the Banking Bureau of the Financial Supervisory Commission
In order to handle your complaint immediately and effectively, the Bureau has immediately notified the financial institutions through the system and will reply to you directly and inform the Bureau as soon as possible, therefore, we will not send another letter to the financial institutions and inform the Bureau.Note 1: If you file a complaint through the public opinion mailbox, the Bureau will keep the complaint case for investigation after it is notified to the financial institution, but will continue to monitor the handling of the case.
Note 2: The Bureau has no legal authority to request or order financial institutions to compensate consumers for losses, reduce interest rates, or reduce loan principal, interest and default fees.
I’m not really sure what this means. Perhaps they notified CTBC and Mega Bank (the two banks I specifically mentioned in my complaint), but I was also asking for clarification from them about how it should be handled…
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Open to anyone, doesnt have to be in the banking system 
the hope would be enough public backlash that the gov would be forced to at least pretend they are doing something. like the baboon situation, it creates more eyes. over time that usually matters.
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What it means is somebody needs to call somebody up and yell at them or they’ll keep passing the buck.
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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.
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So I didn’t hear anything back from CTBC after my last phone call (where I told her I doubted their assertion it was “fine and nothing would be reported”), nothing else from the FSC, and nothing from the MOF or taxation bureau.
Might chase it up again with CTBC when I find the time/motivation.
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How much did you argue with them about this before closing your account?
Based on my experience with Mega Bank, you might have been able to convince them otherwise if you had the energy. (Possibly complicated by the fact that you’re American, IIRC.)
Argued quite a bit, and the teller called his boss many times and I guess got blocked there. I told them it’s illegal for me to sign this incorrectly.
I have to sign CRS since I’m also Canadian.
The Chinese version of CRS may be causing confusion. It is worded in a way to ask if you are a Taiwan citizen or if you have other citizenships (身分）. The English version of CRS is worded very clearly to say Tax resident. Someone did a bad job at translation. The teller only knows how to read the Chinese version.
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I feel you might have been able to argue a bit about this - “I want my 8k back immediately, and I’m not signing a false CRS declaration”.
I would imagine they’d need to somehow complete whatever process they’d already started with changing over your ID number, whether you sign the declaration or not…
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I said to close the account since I was getting frustrated. I rarely use this bank anyways. I think the teller couldn’t do much since he called his boss several times to check. Need another way for them to lose much face for them to actually care.
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Far enough. I’m surprised they wouldn’t budge actually. Your account is probably worth a lot more than the tiny amounts I keep in mine haha.
Let’s see what non-answer the FSC gives you…
I think we need to focus on one bank branch. Maybe get 30-50 different foreigners having this issue to try open accounts at that branch or fix their existing CRS, refuse the incorrect CRS declaring we are tax residents at our home countries, tell the tellers they are wrong, report that branch together to FSC, hold up signs outside the bank saying they are committing tax fraud, etc. until the issue is picked up by some news outlet as a foreigner discrimination case. I’ve got plenty of time these days but don’t have the motivation for organizing. I can get involved though.
I think that’s the only way to solve issues these days. The HK group managed to solve their discrimination issues in Taiwan quickly by protesting. For example that NIA statement about HKers in TW not being allowed to publicly protest was quickly removed after public protests and media coverage.
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Whenever they don’t want to have a tough conversation with a customer, they ghost. Very professional.
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Singapore banks handle CRS tax residency very clearly: Self Certification on Tax Residency Status | DBS Singapore
"If you have questions on how to determine your jurisdiction of tax residence, you can:
- Refer to the Rules Governing Tax Residence published by the different jurisdictions for information on the respective jurisdiction’s tax residency rules;
- Check with the tax authority of the jurisdiction which you think you may be a tax resident. (e.g. If you have stayed in Country A for more than 6 months, you can seek a confirmation from the tax authority of Country A on whether you are regarded as its tax resident for the tax year); or
- Consult a tax advisor."
How can so many banks in Taiwan be so clueless about CRS reporting standards? They tell you how to fill in a Chinese translated CRS self declaration form that foreigners can’t read - that’s international tax fraud.
Seems to be coming from higher up if this issue affects so many international banks like HSBC and Standard Chartered. Maybe the FSC is involved and the policy makers benefit from the status quo. A way to look the other way to protect Taiwanese interests while seeming to comply with CRS by punishing foreigners to up their reporting stats.
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I always suspected that is the goal. They can show how many completed forms they submitted while allowing the high value financial clients who are dual citizens escape scrutiny.
Same with the know your customer forms they send out all the time. Shows they are doing something about these ‘criminal’ foreigners while allowing local money laundering to go unhindered
It makes sense from their standpoint, keep the high value clients happy, who cares about low value account foreigners that don’t have any sway financially or politically.
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Try this.
Pull out your phone and say “Well if you’re going to force me to sign this then I better get this on recording”
Pull out phone “Here we are at ______ bank where (name of teller) is forcing me to make a false declaration. (name of teller) can you explain for the camera as to why you are forcing me to make an incorrect declaration and want to commit fraud?”
Continue recoding the process
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I think you should just pull your money out at this point. Don’t use that bank
The problem is that it isn’t a specific bank. It is the whole financial sector in Taiwan
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It is one big corrupt system the more I look into it. Kicking them out of OECD is the only way to bring about real change.
Taiwan was almost blacklisted as a tax haven in 2017 (https://en.rti.org.tw/news/view/id/78947) and the smart minds higher up must have come up with a creative solution.
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