10/08/2007
Does the interest earned on a CD need to be reported to the TIN on file at the time of the interest posting or can it be redirected to a new TIN simply by changing the banks records?
06/04/2007
I have a business client that has an LLC account who wants to open a differently named LLC account with the same EIN. The client was told that since this is a one member LLC that this could be done. If so, how do we title the account?
05/21/2007
Is there any prohibition on asking someone who is not a customer for their TIN when cashing checks drawn on us?
04/02/2007
What is the frequency that a W-8 Certificate of Foreign Status must be filed at the institution? I know we are required to maintain the previously filed for 4 years after the year which interest was paid.
11/27/2006
Have you heard of a financial institution requiring the beneficiary of a PUPID wire transfer (a non-customer) to complete a form W9 (Request for TIN and Certification) or W8-BEN. I understand the necessity of positively identifying the recipient of the funds but the use of this form seems unusual? I’ve done a little research and cannot find any other references or guidance recommending this. Am I missing something?
11/20/2006
Are we required to have a TIN for an estate account? The account would be non-interest bearing and the executors are arguing that it is not necessary because there will be no interest paid.
10/30/2006
Can we accept "for work purpose only" social security cards to open accounts?
10/23/2006
If I sell gift cards at my teller window and/or at a merchant’s location, am I required to get new account data such as TIN and driver’s license numbers?
06/19/2006
For Payable on Death CD's, when the beneficiaries come in to cash the CD, are there any identification procedures required?
04/03/2006
I am setting up a Memorial fund account. I am using the primary signer’s tax ID number, since the Memorial does not have its own tax ID. If the Memorial Fund is an interest bearing account, how will this affect the primary signer at tax time?