Strengthen Compliance and Reduce Risk with TINCheck
Financial institutions face stringent regulatory requirements for customer verification. TINCheck helps you meet these obligations while streamlining operations and mitigating risk.
Why Financial Services Companies Choose TINCheck
Enhanced AML Compliance
Automatically screen customers against the Office of Foreign Asset Control (OFAC) list, Death Master File (DMF), and 20+ global sanctions and watchlists to prevent money laundering and sanctions violations.
Streamlined KYC Processes
Verify customer identities in seconds, reducing onboarding friction while maintaining regulatory compliance.
Reduced Tax
Penalties
Avoid B-Notices and backup withholding requirements by validating TIN/Name combinations against IRS records before filing information returns.
Operational
Efficiency
Automate identity verification processes, reducing manual workloads and eliminating human error.
TINCheck Solutions for Financial Services
TINCheck Real-Time
Verify tax identities instantly during customer onboarding to maintain a smooth user experience while meeting regulatory requirements.
TINCheck Bulk
Process thousands of tax identity verifications simultaneously for batch customer onboarding or annual compliance reviews.
TINCheck API
Seamlessly integrate tax identity verification into your existing onboarding systems and workflows
Who Uses TINCheck?
- Banks & Credit Unions
- Investment Firms
- Lenders & Mortgage Companies
- Payment Services
- + Other Financial Services
Protect your financial institution from penalties, reduce fraud risk, and strengthen compliance protocols with TINCheck’s comprehensive identity verification solutions.
Frequently Asked Questions
FAQs
How does TINCheck help financial institutions comply with FATCA requirements?
TINCheck verifies TIN/Name combinations against IRS records to ensure accurate FATCA reporting. Our system helps financial institutions properly identify U.S. taxpayers with foreign accounts, reducing the risk of non-compliance penalties and helping you meet both domestic and international tax reporting obligations.
What watchlists does TINCheck screen against for financial services AML compliance?
TINCheck screens against all major government watchlists critical for financial institutions including the IRS Name/TIN Database, OFAC, DMF, and 20+ additional sanctions and global watchlists. Our comprehensive screening helps satisfy regulatory requirements while protecting your institution from potential sanctions violations.
What are the IRS penalties for incorrect 1099 reporting that financial institutions face?
Financial institutions can face penalties ranging from $60 to $330 per incorrect form, depending on the timing of corrections and the nature of the error. For intentional disregard, penalties can reach $660 per form with no annual maximum cap. TINCheck helps prevent these costly penalties by validating tax identity information before filing.