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You may need to supply some identification documents for your child during the account opening process, such as a social security card or birth certificate. 2. Bank at the branch and online
Since then, Social Security numbers have become de facto national identification numbers. [2] Although some people do not have an SSN assigned to them, it is becoming increasingly difficult to engage in legitimate financial activities such as applying for a loan or a bank account without one. [20]
In 2011, Carnegie Mellon CyLab conducted an analysis and found that out of more than 40,000 American children, 10% had someone else using their Social Security number.
In this case, you obviously don’t have the ability to provide a Social Security number, so you’ll need to provide your ITIN instead if you’re opening a bank account.
In the absence of a national identity card (and concordant national identity number), the Social Security number has become the de facto national identifier for a large variety of purposes, both governmental and non-governmental. The SSN was created to ensure accurate reporting of a worker's wages to the Social Security Administration. Prior to ...
Internal Revenue Code section 6109(d) provides: "The social security account number issued to an individual for purposes of section 205(c)(2)(A) of the Social Security Act [codified as 42 U.S.C. § 405(c)(2)(A)] shall, except as shall otherwise be specified under regulations of the Secretary [of the Treasury or his delegate], be used as the ...
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For example, the United States developed its Social Security number (SSN) system as a means of organizing disbursing of Social Security benefits. However, due to function creep , the number has become used for other purposes to the point where it is almost essential to have one to, among other things, open a bank account, obtain a credit card ...