TIN Required for New Bank Accounts, Students and 'No-Frills' Accounts Exempted

The government has proposed making a Taxpayer's Identification Number (TIN) certificate mandatory for opening new bank accounts in the proposed national budget for the 2026–2027 fiscal year (FY27).

The initiative, aimed at expanding the tax net and bringing more financial transactions under formal documentation, was announced by Finance and Planning Minister Amir Khosru Mahmud Chowdhury during the budget presentation at Sangsad Bhaban on Thursday.

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"I propose that, except for student accounts, no-frills accounts, and individuals exempted from obtaining a TIN through a gazette notification issued by the NBR, any person opening a bank account must submit a TIN certificate," the Finance Minister stated.

Under the new proposal, almost all general individuals and corporate entities looking to establish new banking relationships will have to provide their TIN certificate. 

The policy explicitly protects low-income individuals and youth by exempting student accounts and basic "no-frills" accounts—which are typically used for social safety net payments and require little to no minimum balance—as well as any specific groups exempted by the National Board of Revenue (NBR).