Before you can open or become a signatory to a personal or business account, we will need proof of your identity. The Anti-Money Laundering & Counter Terrorism Financing Act 2006 and Foreign Account Tax Compliance Act (FATCA) were introduced by the Australian Government to assist in the detection of criminal activity and tax evasion. The Acts apply to NAB. We require you to show 100 points of identification to us before you can open your first personal or business account, become a signatory to an existing personal or business account or apply for a safe custody service with NAB.
If you're an existing customer with NAB (or a signatory to a NAB account) you will automatically qualify for 100 points upon confirmation that relevant information is held.
For new NAB customers or signatories who carry identification such as a Driver's Licence or Social Security Card, only a few other forms of identification are required to qualify for the 100 points.
Incorporated bodies (e.g. private companies) can nominate a verifying officer who may certify signatories to any accounts opened by the body. Although the verifying officer must be identified in accordance with normal requirements, certified signatories do not require further identification by NAB.
Special provisions also apply to isolated area Aborigines and Torres Strait Islanders and recent arrivals in Australia. You may wish to visit your nearest branch or contact us directly for further details.
If you are an individual opening an account and are a U.S. citizen or tax resident, you will be asked to provide your Tax Identification Number (TIN) or Social Security Number.
New business customers
To open an account in the name of a company or incorporated body, a business or an association, NAB will require additional documentation from you such as for a company or incorporated body - a copy of the certificate of incorporation; for a business - a copy of the certificate of registration of the business name or application for the same; for an association (unincorporated) - a copy of the document authorising signatories to sign for the association; for a trust - a copy of all documents creating the trust, including the Trust Deed.
If the business is incorporated in the U.S. you will be asked to provide your Employer Identification Number (EIN). Business customers who are financial institutions will also need to provide their Global Intermediary Identification Number (GIIN) or other FATCA exemption status. If the business has any controlling persons who are U.S citizens or tax residents, you will be asked to provide their Tax Identification Number (TIN) or Social Security Number.