Administrator
Administrator
90,339 Views
132 Comments (132 New)

USAA Community w9 request.jpg

Community users have been posting about a request to update their W-9 forms and we wanted to provide some additional information.

 

What is a Tax Certification (W-9 form)?

A Tax Certification (W-9 form) is a form that certifies member’s tax payer information (name and social security number). For more information on W-9 form, visit irs.gov website.

 

Why am I being asked to update my W-9?

To ensure our members’ tax reporting information is up to date, accurate and reported correctly to the IRS, USAA may ask members to update their W-9 forms. We want to make sure we have the most accurate tax information on file. To assist with completing the W-9, we have created a digital option which allows for the document to be easily and quickly completed online.  If your account is eligible for the digital option, you should be prompted when reviewing your transactions on usaa.com.

 

Where can I update my information?

When reviewing your transactions on usaa.com you should receive a “digital detour” that will prompt you to sign the required form. This is also available on mobile. If you do not see the prompt on mobile, make sure to update your device with the latest version of the USAA mobile app.

 

What if I do not see the prompt?

Not all members are being asked to update their W9. Those members will not see the “digital detour”.

Or, your account is not eligible for digital detour. If your account is not eligible for digital detour, you will receive a W-9 form in the mail. If you prefer the W-9 form mailed to you, please call us at 800-531-USAA (8722).

 

Do you have any other questions we can help answer regarding the W-9 update request?

132 Comments

 

 

  

The email I got today was rude, disrespectful, and threatening.  Not to mention, I immediately thought I was being phished or my account was compromised. 

 

"Thank you for choosing us for your banking needs. To remain compliant with IRS regulations..."

 - Remain compliant? What changed? New rule?  Nope.  I looked.  

 

"...and avoid placing your account into backup withholding..."

  - So, an email out of the blue, and you're threatening me without even explaining why.

 

"...we need you to complete a new Tax Certification (W-9) form..."

  - I had to look this up.  Verify my SSN?  Seriously, we've been together nearly 20 years.  You've never had a problem reporting interest income.  So...Why am I doing this, and why am I being threatened?

 

"This will be our only communication to inform you that a new W-9 form is needed."

  - This sentence takes the icing on the cake.  I'm being threatened, for some explained reason, and this is your one and only notice???

 

"All deposit accounts you are the primary account holder on will be placed into backup withholding if we do not receive your completed, valid W-9 form."

  - No indication when you'll take action on this threat, but 24% of your paltry interest rates won't be missed.  Maybe my dollars will if I start closing accounts.  How dare you?

 

I've taken the liberty to revise your message. See below.

 

Thank you for demonstrating my value as a long-term customer. To remain compliant with my personal ethos and avoid closure of all of my accounts, I need you to completely revise your notice and extend an apology with explanation. This will be my only communication to inform you that an apology with explanation is needed. All funds in accounts that identify me as the primary account holder will be placed in other financial institutions if I do not receive your revised notice, with an apology and explanation.

 

  

USAA Service
USAA Service

We are sadden to hear of your experience. This will be further reviewed by an account specialist.  We appreciate you reaching out to us.

striker12
New Member
  1. My SSN has been compromised too many times and I'm not a fan of sending information that USAA already has on its file.  USAA has had the pleasure to have over a million dollars of my money through the life of my accounts. My information has not changed in 20 years so I don't see a need to update anything. however, I am, not a fan of holding my accounts in limbo over information that USAA already has.  The elephant in the room is how USAA has made it seem as if this is no big deal to ask for your PII of the internet. This is how information is compromised.   I have other accounts and none of those banks have asked for a W-9. Unfortunately, USAA has not provided enough information for me to agree. If that leads to exploring other options then so shall it be?  Too Risky 
striker12
New Member

@incrediblyinsulted

I believe you said it best.  It does come off as a threat.  After what USAA did to Veterans during the Government shutdown was one of the first times that I saw USAA fail our soldiers in a major way. In a time of need, USAA did not show up. Very telling.  Now I have a lot of my money to go to USAA from my household but any bank would love to have my business.  Come on USAA this is a good time to start listening to your  Shareholders.   Please explain your to me why?

USAA Service
USAA Service

I appreciate you reaching out, @striker12, regarding the request for updated details on your account. Due to security and privacy restrictions, I'm not able to discuss via social media. I would recommend you initiate a a secured chat by clicking the blue Reach a Representative link in the upper right corner of your Account Summary page. Our representatives are available 24/7 to address this with you, and answer any questions you have about this. - Cathleen

USAA Service
USAA Service

@striker12, Thanks for reaching out. I've forwarded your inquiry to a subject matter expert. Please allow sufficient time for completion of their review and we will follow up with you. - Ben 

Geoman1
New Member

Thi is is the kind of profesional work 

That it needed to be done for USAA

thanks to HappyHamster for posting this information ,they should remove an amount of money from the person who wrote the comunícate and give it to him 

thanks a lot,God bless you

I have expended 5 hours researching

Just for the only reason ,that the person who wrote the comunícate was focusing on his needs ,and not the ones from the members

as follow.

the needs from the writer to do his job ,not matter who understanding who gets WDIGF

Members needs are to understand WDIGF

just in case some ones reads and wonder what does means

WDIGF

"What do I get from "

simple, the dividen from your policy insurance

simple

It is not what you ask for ,it is the unprofessional way you asked for and the lack of information

5146
New Member

Usaa called me and asked for W-9 information. The representative read to me 4 times like a little kid they needed to uodate my withholding and identity my occupation. After asking four times the reason the USAA rep said he was not sure.

What does regulatory requirements have to do with my occupation like he said?  And why does anyone want to know my withholding!

 

it says USAA needs to make sure our IRS information is up to date.  Well I called the IRS and they said we don't need to provide it.  If there are any concerns the IRS will contact which they never have because there are no concerns!

USAA Service
USAA Service

@5146, In order to be a complaint company, the Tax Certification (W-9) is a required form that certifies any back up withholding (BUW) status with the IRS. USAA uses this form to report the your correct tax identification number (TIN), or employer identification number (EIN), and associated name for all accounts (checking, savings, certificate of deposits) that you woud be a primary account holder on, to the IRS.  We hope this is helpful in understanding why we need to keep this information up to date.