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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16575
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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HOW DO I DETERMNE WHAT IS MEANT BY ME BEING ASKED TO PROVIDE

Customer Question

HOW DO I DETERMNE WHAT IS MEANT BY ME BEING ASKED TO PROVIDE A NON RESIDENTIAL TAX CODE TO SOMEONE SENDING ME MONEY?
Submitted: 3 years ago.
Category: Tax
Expert:  Megan C replied 3 years ago.

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

First, who is sending you money and are they in the United States or abroad?

MyVirtualCPA :

I am not aware of any "non residential tax code" and typically scams will say something like "please talk to Mr. Smith to get your non residential tax code."

MyVirtualCPA :

A legitimate wire transfer will not ask for a tax code, as there is no such thing.

JACUSTOMER-6ry0yvsp- :

The sender is abroad and sending money from Natwest Bank in Europe

MyVirtualCPA :

This is most likely a scam. The perpetrators are trying to gain information to your routing number and bank account number, and they use this "tax clearance code" to make the transfer sound more legitimate

MyVirtualCPA :

But, there's no such thing.

MyVirtualCPA :

I'm truly sorry if this is not the news you had hoped to hear. Have you given any personal information to the people who claim to be sending you the wire transfer?

JACUSTOMER-6ry0yvsp- :

i have given them my bank account number and the bank swift code and all other information they have requested ... and they just sent me the COT # to arrange for the transfer of funds ... but when I went on line to do that and filled in all the blanks ... the ONE thing I did not know how to answer was fillng in the blank that asked for my non residential tax number. So WHAT do I put into that blank as I WANT to ... and am willing to risk it being a scam as you believe.

MyVirtualCPA :

There's no such thing as a non residential tax code, as I am explaining.

JACUSTOMER-6ry0yvsp- :

Well I left in blank and clicked on completing the process and it was not completed as I had not filled that in..

JACUSTOMER-6ry0yvsp- :

Is there ANYTHING I CAN PUT IN for a non residential tax code?

MyVirtualCPA :

You could just put a series of numbers, but this is not legitimate. They used the promise of a large wire transfer to gain access to your bank account.

MyVirtualCPA :

You will need to contact your bank ASAP and let them know what happened so they can take measures to protect your bank account

JACUSTOMER-6ry0yvsp- :

The way this process began was a person in Europe asked me to do a joint checking account with them and they were sharing substantial sums that they received in an inheritance. And I paid $300 and they paid $600 to open the account ... and then they transferred substantial money into the account which is in MY name ... and I was told I could tranfer the funds to my U.S. bank account IF I paid to have the COT fee ... which I did ... and they sent me that COT ... and the ONLY thing I cannot compete to arrange the funds transfer is their requiest for a non residential tax code. Should I just put in my social security number or part of it?

MyVirtualCPA :

I'm really sorry, but this is a scam. There's nothing you can do. You will not receive the wire transfers that are promised. You can surely put numbers in that code if you wish to try, but this is not legitimate.

MyVirtualCPA :

Is there anything else that I can assist you with today? If not, please rate my response "excellent" so that I can receive credit for assisting you today.

MyVirtualCPA :

This type of code is only given to employers and pension payers - they are never given to taxpayers.