Why Is Usaa Asking For A W9 Tax Form

Why Is Usaa Asking For A W9 Tax Form – I've been using the same bank for my checking account since i moved to the united states a little bit over 3 years ago (usaa). Has your bank recently asked for your tax identification number (tin) in the u.s.? Also i only have a checking account at that bank. If they fail to get one signed, they may have to withhold taxes at 24%.

I am a federal employee and have been for 9 years with no changes to my withholding during that whole time. So if you refuse to. Since the bank is required to report this information, it's often standard procedure to request it when you're opening an account, regardless of the type of account you're. I've been waiting for my fed refund and a little concerned there is an issue with my taxes as the form asked a lot about backup withholding or something?

You can view your documents on usaa.com by going to the my documents tab under your profile. Anything that could prompt this? From what i understand of backup withholding (quick google search), if i don't do anything, the bank can withhold 28% of interest.

The treasury inspector general for tax administration investigates a wide variety of Yesterday that bank sent me a w9 form (an official form that basically asks for my tin or ssn) although the bank already has my ssn. Banks that pay you interest income must file a form 1099 int, interest income, with the irs reporting the interest you received on your bank accounts.to report the income, they’ll need your taxpayer identification number.

So i’m wondering what the criteria is for selecting. While it sounds confronting, don’t worry, it’s completely normal! The letter says that if i don’t fill out the form, i’ll be subject to backup withholding.

Can You Send Us A W9? NAFCU