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?

154 Comments
Kristi Fike
Occasional Visitor

The old style signature cards that you would have signed for each account have now been split into two forms. The W9 was part of the signature card at one time. They are now two different forms. The IRS requires both to be on file. Only the primary has to sign the W9. If you have more than one type of account like one checking and one savings you will need one form for each account, If you have two accounts that are both checking or both savings and they are styled the same then only one form for both accounts will work. The signature card is required by all account holders on the account. If you don't sign an ORIGINAL SIGNATURE CARD, your account can/will close within 90 days of the first notification that you receive. Again, the IRS requires a signature to be on file to show who is responsible for the account. If you ADD or REMOVE and account holder, signatures and Customer Due Diligence Questionnaires (Patriot ACT) are required by ALL ACCOUNT HOLDERS. If you are being REMOVED from and account and you are PRIMARY, you can't REMOVE the SECONDARY without THEIR Permission. The SECONDARY can remove themselves in writing by DIGITAL Channels on USAA.COM or signing an Amended Signature Card. If you are a parent of a MInor and opening or already have a youth account, a parent that is also a joint account holder must sign on the minor's behalf if they are below a certain age. In this case It is ALWAYS a Physical form. You would Print the Minors name, then SIGN your name next to their printed name and then write the words  'Parent of Minor' next to your signature.

 

I hope this helps you understand a little better. If you have Physical Forms or keep getting errors with your envelopes, please consider faxing or scanning as an option to return your paperwork. Also Digital Signatures can be done by the Primary for ALL account holders when they are prompted with the interruption. (Also since the signature card was split into two forms and you may not have had a signature card on file from an account that was opened a long time ago, the form is still required, hence, the multiple warnings that you many have been receiving is because they want you to sign before they are mandated to close your account) Please make sure your mailing address is correct, you have the power to change your information when you click on your profile.

 

Have a great day.

Briana Hartzell USAA
Administrator
Administrator

@Kristi Fike,

Thank you for taking the time to post such helpful information. We appreciate it!

User2391
New Member

I, too, am very displeased with the way USAA has handled the response of requesting a W-9 from account holders. Most people think about a W-9 in terms of businesses and contract labor. However, banks will request it if they are paying out interest, dividends, etc. The USAA mobile app, it reads "for tax purposes, we need to ensure your name, backup witholding status, and taxpayer ID or SSN are accurate."  When I try to complete the W9 through the app, it reads "system error." I cannot get the same message (to complete a W9) to appear when logging into the USAA website. Therefore, I called USAA customer service; where I was told that I just needed to complete it or USAA would withold taxes from checking account. What taxes and on what? The rep's response was you just need to complete it; that USAA sent out 900,000 to their account holders that need to complete it. The rep also stated the government is cracking down and you just need to complete it. But then, the rep stated it was just for the bank's purposes and no information would actually be sent to the IRS. Obviously, a conflicting statement. I requested to complete a survey and the phone was disconnected.

 

Better train your customer service reps to provide quality answers.

USAA Social Service
USAA Service
USAA Service

@User2391, that is certainly not how we expect our members to be treated or advised when calling in.  I will have this experience further reviewed and we appreciate you letting us know what happened.  

Friend Or Foe
New Member

Well this W9 interruption redirect warning I have been recieving for awhile now is probably my last straw with this banking institution. I should go off and talk in great detail how bad this bank treats its customers, active/vetern and their families. But for starts I have not ever once been asked by any bank I had belonged to from across America to fill out this form. Now you have my social security because unless the federal goverment has passed a law saying you do not need a SS to open a bank account and no one know about it which I would say that is highly unlikely. Then you do not need to update mine or anyones  SS. Now this whole business about having to pay taxes on the intrest I erand from my money is absurd already. But I have 4 cents earned this year and 6 cents last year. So I will cut a penny into thirds and pay my own interest. This is my promise if you put a hold on my account I will just go bank with my other bank or find a new. Because either way I am not fill out this form. 

USAA Social Service
USAA Service
USAA Service

@Friend Or Foe, Sorry you feel this way, we would hate to lose you. I will forward your feedback and concerns to a Bank specialist about the W9. Thank you for reaching out ~Tom

7sluck
Occasional Visitor

This is really frustrating, as the information on my W-9 has not changed in six years.  This is the only financial institute that has asked me to update my information, which tells me that there could have been some sort of breech, whether internal or external, if I am required to update, or verify my information.  Every state, as of 2018, has passed laws mandating that customers be notified of data breech within 72 hours of the company knowing.  Has my information been compromised, and if so, why have I not been notified of said incident?

Janno
Occasional Visitor

Come on USAA!  Won't somebody responsible at USAA bother to put up a response after all these complaints and I suppose quite a few account closures, that actually RESPONDS to the issue rather than just saying they will pass it on to somebody to review.  There have been ZERO answers to ANY of the concerns raised here the last 4 months much less prior to that. (I wrote my complaint in August). I keep a minimal amount of money in my USAA account and since USAA doesn't seem to want to respond to anyone's questions or concerns about this W-9 debacle, may ultimately have to  find another bank. 

Upon reviewing my youngest UTMA's account I noticed "tax withholding".  This was a suprise as we did not pay it last year and never paid it for any other account.  I was told that it was because I did not have W-9 on file.  No other institution allows the IRS to take money without my consent or knowledge.   Why did I not get notified?  I am not happy with the transfer of the Mutual funds, but this makes me think USAA needs to get back to the core value of Insurance.   They are a great Insurance company that has been a great Insurance agent, and that is why I continue to be grateful to have them as my insurance.  However their handling of the banking and the mutual fund aspect, and the now disconnect between the managing instituions adds unnecessary admin, does not meet expectations of a '1 stop shop' and test my loyalty and this only adds reasons for my research to divest the banking and investments from USAA .   Insurance only is looking like the correct call.

USAA Social Service
USAA Service
USAA Service

@Member since the '90, First of all, thank you for being a member since 1990! I am sorry for any frustration or confusion with the W9. I am going to have a Bank specialist review your concerns in regards to the W9. Thank you so much for reaching out today. ~Tom