Specifying the tax ID for loans

Since January 2018 apply to banks and businesses new rules: Wants a borrower a loan for a total amount of 1 2,000 euros , then this may not only be guaranteed if the various conditions are met, but it also needs the tax identification number of the relevant Person present. Is the borrower ‘s tax ID is not out, it’s the banks no longer possible and shops, a loan to forgive.

Tax identification number: old and new scheme

The tax ID is a fixed number that never changes in the course of life. Since January 1, 2018, it must also be stated in loan agreements of banks and companies.

Since 2017, every citizen living in Germany receives his own, very personal tax ID. Once a child is born, it will be sent automatically. This is a fixed number, which means that it never changes, not even through marriage or moving. The administration of the tax identification number is the responsibility of the Federal Central Tax Office. It may only be used by the respective tax authorities and by the various bodies which transmit various data to the tax office due to tax circumstances. These include, among others, the child benefit and health insurance as well as credit institutions, where you as a customer signed an exemption order . But since the 1st of January of the year 2018 there is a far-reaching change.

Previously, banks that held an account for third parties were required to provide certainty not only about the account holder itself but also about any person entitled to dispose of it. But also for companies that leave lockers and / or keep valuables, this special rule applies. Include here, in addition to the exact name of the person, also his address and the date of birth. Furthermore, this information must be recorded exactly.