Why do some private-sector organizations request the SIN?
Private-sector organizations, such as banks, credit unions and trust companies, must ask for a customer’s SIN for any accounts and investments that pay interest. If an account is not interest-earning, the organization is not required by law to ask for the customer’s SIN and the customer is not required to provide it. Some private-sector organizations will ask for a customer’s SIN, usually for identification or client account number reasons, even though there is no legal requirement to request it. Although this practice is strongly discouraged, it is not illegal to do so. However, the organization must tell the customer why his or her SIN is being collected. If the SIN is not legally required, the organization must clearly state that providing the SIN is optional and offer the customer other options. Before providing their SIN, customers have the right to ask what the legal requirements are for the SIN. Except for specific government programs, customers have a choice about when their SI
