United States order targets ITIN bank accounts and non-citizens on visas

Trump order tells regulators to factor immigration status into bank due diligence

President Donald Trump signed an executive order titled "Restoring Integrity to America's Financial System" on May 19, 2026, directing the Treasury Department and federal banking regulators to strengthen risk-based customer due diligence under the Bank Secrecy Act.

The order lets institutions obtain information "relevant to whether account holders possess lawful immigration status and employment authorization" when other risk indicators are present. It doesn't create a blanket rule requiring banks to verify citizenship for every customer or every cross-border transfer, per a Mayer Brown analysis.

Treasury must issue a formal advisory on red flags within 60 days, propose Bank Secrecy Act rule changes within 90 days and consider revisions to customer identification program rules, including the treatment of foreign consular ID cards, within 180 days.

Who feels the scrutiny

Non-citizens banking on visas, ITIN-only clients and people without work authorization face the sharpest impact. Red flags named in the order include ITIN use without a valid work visa, repetitive low-amount cash deposits matching payroll cycles and transfers routed through unregistered money services businesses.

Tourists and short-term visitors using standard U.S. accounts or major fintech apps that already follow know-your-customer rules aren't directly targeted unless their activity trips other anti-money-laundering signals.

A separate change also hits outbound money movement. The One Big Beautiful Bill Act imposes a 1% federal excise tax on certain cash-based outbound remittances for transfers after Dec. 31, 2025. Standard bank-to-bank and card-funded transfers are largely exempt under the current law.

Steps for nomads and expats

• Expect more questions about immigration and work status when opening U.S. accounts, applying for credit or sending regular cross-border transfers, especially with an ITIN.
• Keep documentation of visa status, work authorization and source of funds ready for account reviews.
• Route international transfers through bank wires, ACH or card-funded services to avoid the 1% cash remittance tax where possible.
• Watch for the Treasury advisory due by mid-July 2026 and the proposed Bank Secrecy Act rule changes due by mid-August 2026, both of which will go through notice-and-comment before taking final effect.

Read our full United States guide for the complete picture and check our latest visa updates for ongoing changes.