On Feb. 14, RUS CB issued taxpayer identification verification guide.
RUS CB published letter on verification of borrower's taxpayer identification number by the lender in connection with entry into force of law 31-FZ on credit histories.
Follows, RUS PRL Feb. 2024, Loan Agreement Prohibitions, see rule #201863.
Key Points
To ensure the possibility of verifying the presence of information in a subject’s credit history regarding an active prohibition on entering into consumer credit loan, a borrower must provide their taxpayer identification number (INN) to the organization.
In turn, the credit organizations verify the accuracy of the borrower-provided INN against the data from the Federal Tax Service’s State Information System.
In addition, the borrower's INN data may also be independently obtained RUS Tax.
When verifying or retrieving INN data, credit organization must use a method that ensures the reliability of the verification results (i.e. guarantee receipts from RUS Tax).
If the orgnaization receives incorrect verification results through their chosen method or service, there is a risk of unlawfully entering into a consumer credit agreement.
Associations of credit organizations and self-regulatory organizations in the financial market are requested to bring the recommendations to the attention of their members.
