Tuesday 9 June 2009

CHF

Another casualty of the econo-lypse (real or imagined), I think, is the solvent secrecy of the Swiss banking system. Perhaps I was just a late-comer to the game or didn't insist that matters be handled delicately or perhaps, on opening the account, I was asked if I were famous, I ought to have said yes (that was the only question I was asked by the clerk who set up my account), but I received a strange, lenghty letter from Vaduz yesterday, regarding my status a "non-US person." Wanting to clarify this situation, the bank wanted me to confirm their suspicions that I "was possibly not a non-US person." Unless they received an answer soon, the bank would terminate my account, liquidate my holdings and keep it in their office as a cheque in Swiss francs for me to retrieve at my convenience. Of course, if I really was a non-US person, I should clear up this matter with my agent right away. I wish I really had that much money, non-liquid assets and an agent that this would even matter. It the event that I was not in fact a non-US person, I should complete an American IRS form that they sent and return it to them. What I found most amusing was that the form was an application for a social security number or ITIN (individual tax-payer identification number)--exactly what a non-US person would need to report taxes.