diff --git a/src/CONST.js b/src/CONST.js
index c60a5d15b06e..10ef79563be5 100755
--- a/src/CONST.js
+++ b/src/CONST.js
@@ -86,7 +86,6 @@ const CONST = {
             PENDING: 'PENDING',
         },
         MAX_LENGTH: {
-            TAX_ID_NUMBER: 9,
             SSN: 4,
             ZIP_CODE: 5,
         },
@@ -640,6 +639,8 @@ const CONST = {
 
         // eslint-disable-next-line max-len, no-misleading-character-class
         EMOJIS: /(?:\uD83D(?:\uDC41\u200D\uD83D\uDDE8|\uDC68\u200D\uD83D[\uDC68\uDC69]\u200D\uD83D(?:\uDC66(?:\u200D\uD83D\uDC66)?|\uDC67(?:\u200D\uD83D[\uDC66\uDC67])?)|\uDC69\u200D\uD83D\uDC69\u200D\uD83D(?:\uDC66(?:\u200D\uD83D\uDC66)?|\uDC67(?:\u200D\uD83D[\uDC66\uDC67])?))|[\u2700-\u27bf]|(?:\ud83c[\udde6-\uddff]){2}|[\ud800-\udbff][\udc00-\udfff]|[\u0023-\u0039]\ufe0f?\u20e3|\u3299|\u3297|\u303d|\u3030|\u24c2|\ud83c[\udd70-\udd71]|\ud83c[\udd7e-\udd7f]|\ud83c\udd8e|\ud83c[\udd91-\udd9a]|\ud83c[\udde6-\uddff]|[\ud83c\ude01-\ude02]|\ud83c\ude1a|\ud83c\ude2f|[\ud83c\ude32-\ude3a]|[\ud83c\ude50-\ude51]|\u203c|\u2049|[\u25aa-\u25ab]|\u25b6|\u25c0|[\u25fb-\u25fe]|\u00a9|\u00ae|\u2122|\u2139|\ud83c\udc04|[\u2600-\u26FF]|\u2b05|\u2b06|\u2b07|\u2b1b|\u2b1c|\u2b50|\u2b55|\u231a|\u231b|\u2328|\u23cf|[\u23e9-\u23f3]|[\u23f8-\u23fa]|\ud83c\udccf|\u2934|\u2935|[\u2190-\u21ff])/g,
+        TAX_ID: /^\d{9}$/,
+        NON_NUMERIC: /\D/g,
     },
 
     PRONOUNS: {
diff --git a/src/languages/en.js b/src/languages/en.js
index 0c9f6e74a8d8..0c655c30a591 100755
--- a/src/languages/en.js
+++ b/src/languages/en.js
@@ -687,7 +687,7 @@ export default {
         legalBusinessName: 'Legal business name',
         companyWebsite: 'Company website',
         taxIDNumber: 'Tax ID number',
-        taxIDNumberPlaceholder: '9 digits, no hyphens',
+        taxIDNumberPlaceholder: '9 digits',
         companyType: 'Company type',
         incorporationDate: 'Incorporation date',
         incorporationState: 'Incorporation state',
diff --git a/src/languages/es.js b/src/languages/es.js
index 3a2729b04f1e..1ecec657163d 100644
--- a/src/languages/es.js
+++ b/src/languages/es.js
@@ -689,7 +689,7 @@ export default {
         legalBusinessName: 'Nombre comercial legal',
         companyWebsite: 'Página web de la empresa',
         taxIDNumber: 'Número de identificación fiscal',
-        taxIDNumberPlaceholder: '9 dígitos, sin guiones',
+        taxIDNumberPlaceholder: '9 dígitos',
         companyType: 'Tipo de empresa',
         incorporationDate: 'Fecha de incorporación',
         incorporationState: 'Estado de incorporación',
diff --git a/src/libs/ValidationUtils.js b/src/libs/ValidationUtils.js
index 83ce6b2c816f..5138541a8bac 100644
--- a/src/libs/ValidationUtils.js
+++ b/src/libs/ValidationUtils.js
@@ -355,6 +355,16 @@ function isExistingRoomName(roomName, reports, policyID) {
     );
 }
 
+/**
+ * Checks if tax ID consists of 9 digits
+ *
+ * @param {String} taxID
+ * @returns {Boolean}
+ */
+function isValidTaxID(taxID) {
+    return CONST.REGEX.TAX_ID.test(taxID.replace(CONST.REGEX.NON_NUMERIC, ''));
+}
+
 export {
     meetsAgeRequirements,
     isValidAddress,
@@ -381,4 +391,5 @@ export {
     doesFailCharacterLimit,
     isReservedRoomName,
     isExistingRoomName,
+    isValidTaxID,
 };
diff --git a/src/pages/ReimbursementAccount/CompanyStep.js b/src/pages/ReimbursementAccount/CompanyStep.js
index 384a7bfeba05..832dac6e63f0 100644
--- a/src/pages/ReimbursementAccount/CompanyStep.js
+++ b/src/pages/ReimbursementAccount/CompanyStep.js
@@ -142,7 +142,7 @@ class CompanyStep extends React.Component {
             errors.website = true;
         }
 
-        if (!/[0-9]{9}/.test(this.state.companyTaxID)) {
+        if (!ValidationUtils.isValidTaxID(this.state.companyTaxID)) {
             errors.companyTaxID = true;
         }
 
@@ -176,7 +176,7 @@ class CompanyStep extends React.Component {
         }
 
         const incorporationDate = moment(this.state.incorporationDate).format(CONST.DATE.MOMENT_FORMAT_STRING);
-        BankAccounts.setupWithdrawalAccount({...this.state, incorporationDate});
+        BankAccounts.setupWithdrawalAccount({...this.state, incorporationDate, companyTaxID: this.state.companyTaxID.replace(CONST.REGEX.NON_NUMERIC, '')});
     }
 
     render() {
@@ -262,7 +262,6 @@ class CompanyStep extends React.Component {
                         disabled={shouldDisableCompanyTaxID}
                         placeholder={this.props.translate('companyStep.taxIDNumberPlaceholder')}
                         errorText={this.getErrorText('companyTaxID')}
-                        maxLength={CONST.BANK_ACCOUNT.MAX_LENGTH.TAX_ID_NUMBER}
                     />
                     <View style={styles.mt4}>
                         <Picker
diff --git a/src/pages/settings/Payments/AddDebitCardPage.js b/src/pages/settings/Payments/AddDebitCardPage.js
index e6a8406c1cea..25dccd304295 100644
--- a/src/pages/settings/Payments/AddDebitCardPage.js
+++ b/src/pages/settings/Payments/AddDebitCardPage.js
@@ -249,7 +249,6 @@ class DebitCardPage extends Component {
                                         label={this.props.translate('addDebitCardPage.expiration')}
                                         placeholder={this.props.translate('addDebitCardPage.expirationDate')}
                                         value={this.state.expirationDate}
-                                        maxLength={7}
                                         errorText={this.getErrorText('expirationDate')}
                                         keyboardType={CONST.KEYBOARD_TYPE.NUMBER_PAD}
                                         onChangeText={this.addOrRemoveSlashToExpiryDate}