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TIN for Stock trading/ investing (Citiseconline).......Need help!!!

j_l · 14 · 11223


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I am still a student, im 23yrs. of age (on a legal age), currently on my 3rd year in my course, i have a few backgrounds on investments like BSP-SDA and UITF's, i have never worked before and i have no plans in my mind to be a working student.

I am planning to go on online-stock trading particularly in "Citisec" the problem is, in the application form there is a blank/ slot for a TIN, i don't really know if it is really required or compulsory coz on every bank that i have an account with (savings, investments - UITF & SDA) they don't really require me to present this because i am still a student even though they do usually require it, but i guess i shouldn't generalize it because it's not anymore a banking institution ("while thinking that my UITF's are invested on stocks"). I am just worrying that if i will pass my application form there without any TIN , i will be rejected/ denied for not having it. So what will i do? Has anybody here in the forum who have similar experiences like mine.? Is there someone here who are trading stocks that are still student as-well.? Is Citisec strict about this? Can i leave it blank & be approve (on the condition because i am still a student).?

I've been in BIR & inquired about the TIN & they do release a TIN for students & at the same time non-employed which is the form "1904" (because there are various TIN's) but it is only for bank purposes, driver's license & etc. And stock trading for non-employed students doesn't fit in, in that category. The personnel that i have asked says that i should apply for an employment TIN "1902" rather than the previous coz he says that "im earning already" if i'll be doing stocks..........The problem is, i am not an employee (and doing stock trading doesn't mean that there is a concept of employer & employee relationship with me and Citisec) and to accomplish the form 1902 i need an employer ("strictly") and that means that i need to work already to have it. I don't want to work just to have that TIN (i cannot juggle work & studies)........................but i really wanted to do stock trading before i graduate........Please help me guys, i hope there are leeways or some alternatives regarding this. I really really thought that it is allowed on applying 1904, for that purpose but it ended up rejecting my application because of that. Did i asked the wrong person about that coz maybe he has no prior knowledge about the terms in 1904 (although he seems aged with his work) or is it really, not allowed. Coz i have seen in the form 1904 that there are check or "x" boxes especifically (coz the instruction says that i should put an "x" rather than "/" in the box that i prefer) and the heading was "tax types" and some of the options are Capital Gains Tax - Stocks, Witholding Tax, Estate Tax, etc. Why would there be a choice about stocks(CG) if the form is not for stocks purposes (for me trading as a non-employed student), or did i misinterpret it for something else.......

By the way the BIR guy that i have talked with says that i have to present the document/ application of the bank "including/ with" the other necessary requirements like birth certificate and barangay certificate if ever i will choose the 1904, for the reason of banking purposes or vice versa for the application for drivers license; the student license.......So they are indeed strict about the 1904. Is it really their SOP by asking a proof like student license and bank documents on accomplishing 1904, or is the guy maybe had the feeling that i might use the TIN for trading stocks and he is thinking that i'll just pretend that i'll be using it for bank purpose, coz he already know my whole story (the real reason why i would like to obtain a TIN), that's why he says it is a requirement for me to bring that also.( if ever, what a wise man!, hmm hahah)

I have also a question to those who are working already............. Are you guys required to indicate your earnings on stocks on your ITR or other similar thing like that coz the BIR guy pertains stocks as an income/ earnings.????? To think that there are already capital gains tax and others, coz my god there are a lot of taxes here in the Philippines that is shooing away investors both local and foreign. Sorry i don't have further knowledge about taxation/ taxes...........

Sorry also for the long read/ post. I am just really interested in "directly" doing stocks and i have already a few knowledge about trading, maybe the basics  :D
I hope you can answer some, if not long long list of questions (hahaha)........ Thanks guys in advance!!!!!!! God Bless :hello:
« Last Edit: Aug 17, 2011, 09:47 PM by j_l »


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when i registered at philstocks years ago, i dont have a TIN either, they say its ok, i dont know about Citisec, because its the broker that pays the taxes in your behalf like VAT, transfer tax and others, while dividends is automatically withheld with final tax before you get it.


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hi there j_l. I actually admire your inquisitive nature :)

With regards to your TIN application, I'm afraid I'm of little help. But a friend of mine wrote an article regarding stock trading taxation and would be of great help to you: Tax Consequences of Stock Market Investing in the Philippines

Good luck :cool2:


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if you want to trade in stocks and it is a requirement by citisec to submit a TIN, then just get a TIN with BIR.  no discussions are needed, it will not bring any results, things will just get complicated and confusion is bound to arise.

make things easy as most people do.


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sabihin mo lang sa bir gagamitin mo TIN for work. Bahala na broker magbayad ng tax mo sa bir.
TIN is required for opening account kasi may TAX ka when you buy and sell shares sa PSE. No need to declare it sa yearly income because it is already taxed.
application lang yun for TIN but not necessarily need to file income tax. My wife has employment TIN but never been used since she doesnt work.
Mga walang alam mga asa bir, panay collection lang alam mga yun at pangungurakot. haha.


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@mackygoof: At a certain extent, I agree with your last statement =)


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hi to all!
I have an account with Citisec, and to answer your question better to call them. here is the (632) 6-333-777. Operators are very accommodating to answer inquries :)


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in my case, I have not provided my TIN, only SSS number and I got the account opened.


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in my case, I have not provided my TIN, only SSS number and I got the account opened.

i think you will have a problem later (if TIN is not required from you right now).


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yun nga din ang fear ko, pag uwi ko na lang asikasohin, ayaw din kasi mag bigay ang BIR kung mag request online.  Sana merong ganyang facility like NSO, where you can order and pay online.


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im not referring much to BIR.  i know you can handle it when you return because BIR has a poor track record on surveillance.  I'm more concerned with the broker that you hired.  your money might be at risk with such brokers.


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hey guys!!

I was planning on opening an account with CitiOnline but after what i read. Im not quite sure anymore.

Im an expat in dubai, we dont pay taxes here. Nor do we pay taxes to the philippine goverment.

that would mean I have no TIN, I do in fact have a TIN CAN but, i dont think they will accept that.

So what happens to the procedure?

To trade in our local market in the UAE we need around $ 3500 USD as minimum, thats why im planning on trading at the phil market seeing its much cheaper.

and by the way. Im new to investing as a whole.


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Hi, I'll revive this tread
kasi nasa parehong situation kami ni mr. j_l
student rin ako na gustong magstart to invest in stocks
I am a finance student BTW so I know the basics and some advance stock investing
so yung problema is most brokers require a TIN but the BIR wont issue any TIN to students or non-employed individuals

pero nung nabasa ko sa post ni mr. j_l yung something about form 1904 for banking purposes or drivers license, pero anong banking purposes ba ito? is opening a savings account considered??

@kalakal - totoo ba talaga Philstocks don't require a TIN??? Kasi Firstmetrosec as well as BPI trade requires one though i dont know with citiseconline

« Last Edit: Jul 21, 2012, 10:02 PM by proudtobepinoy »


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Nag apply ako sa citisec w/o tin and naaprove nmn po....just leave it blank....


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