Administrator
Administrator
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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
CoastieJoe1
New Member

Not only did USAA "the bank" ask me to update my W-9s they also started withholding funds from my youth savings accoutns. After several attempts to update the paperwork, which I am certain was submited when I opened the account 7 years ago, I got the forms updated but USAA refuses to refund the money based on thier poor record keeping. We are literally talking a single US dollar, however they are about to loose my buisness for life. Navy Federal here I come!

PeacekprFL
Contributor

I am extremely disappointed in USAA's handling of the W-9 process.  There is so much wrong with this process.

 

So I guess I had been getting notifications in my USAA documents to fill out this W-9 for two accounts I rarely go into on the website but actively deposit to (via another third account).  And I happened to login to USAA the other night and stumbled upon the W-9 notification on my documents page and realized I hadn't finished that process.  So I go to my accounts page to complete it, and that's when I noticed those accounts had vanished from my accounts page.  Missing without a trace.  I went straight into panic mode.  I immediately call USAA and I'm told my accounts have been closed and checks for the balance written and mailed (via snail mail without tracking numbers!).  Good to know!!!  Sure sure - perhaps shame on me for not filling out the W-9 within the time window.  I'll accept some responsibility for that (a phone call or specific/non-generic email sure would've been nice).  But I received no notification that my account had been closed and that checks had been mailed, money for which I now have no access to for 1-2 weeks.  And all this despite having another active account for which I had filed a W-9 under the same USAA member ID!!  And how did I find out my accounts were closed? ...by a stroke of luck that I had a few minutes to login and snoop around my documents page to the point where I notice accounts are missing.  This is completely insane!!  Seriously USAA?  There's not a better way to handle this situation?  You just close folks' accounts without telling them and wait for them to notice their accounts are missing?!  Unacceptable!!  Despite banking with USAA for about 15 years, I'm so disappointed that I'm now considering alternatives to USAA for certain aspects of my banking needs.

USAA Service
USAA Service

Hello @PeacekprFL. I am very sorry to hear of this situation regarding your accounts. I have escalated your concerns regarding this to a subject matter expert for review. -Colleen

PeacekprFL
Contributor

Thanks, Colleen.  Your subject matter expert has 7-10 business days (the time it will supposedly take the checks to arrive in my mailbox) to follow-up with me.  If I hear nothing, I'll know how much USAA values my business and will make decisions considering that knowledge.

USAA Service
USAA Service

@PeacekprFL, I will forward this post as well. Thank you for the response. ~ Suzy

ao915
Contributor

I've never provided a W9 to USAA or any other bank, so I find it odd that I'm getting requests to "update" something I've never provided.  And since USAA doesn't "withhold" anything--"backup" or otherwise--I don't see why you need it.  I find it hard to believe the IRS demands it since (1) they've apparently done just fine without for the last 40 years, and (2) another bank where I have an account doesn't seem to require it.

Nexus2Nicholson
New Member

Add me to this list that is deeply disappointed in USAA. I've never had to write in like this, but I received this same terse email this morning. I don't appreciate the tone whatsoever. It sounds like the same type of threatening tone the IRS uses in some of its correspondence. That tone is meant to condescend and intimidate, and I REALLY DON"T APPRECIATE it coming from USAA.

 

You. Have. Failed. Full stop

 

The irony is I bank with two other institutions, and only kept a minimal deposit in the checking and savings accounts. I did that to keep my options open that I may someday move my banking business over from BofA and Wells Fargo. After this incident, I am pretty sure I will NEVER move my banking business to USAA. Your judgment stinks, and you ought to know better than to pull this kind of incompetence on your members. You are the only bank who's sent me this correspondence, and ALL of my information was already correct. 

 

I suggest you find the USAA employees responsible for both the handling of this situation and the tone of the correspondence from it. FIRE THEM ALL. While I decide whether I will need to fire you. 

 

A shameful episode from USAA. 

PNWCorvus
Visitor

I am completely astounded that the only response I am seeing from USAA staff is "I'll share your feedback with the appropriate folks at USAA".

I'm also concerned that USAA seems to be the only financial institution that is requiring this, with no acceptable reason as to why, other than "IRS demands it".

Can I get a response that isn't so canned, explaining why??

Magnum 63
New Member

Because every month I'd  transfered my retirement Money from Armed Forces Bank into USAA Checking account and I have more then $600 in the checking account this labled me as trying to hide money from IRS?

I thought that W9 was and is being use for an independent contractor (vendor) being paid excess of $600 or on retail sales above $5000. 

 

 

 

USAA Service
USAA Service

Nexus2Nicholson - I understand the seriousness of the situation. I have located your information and will engage a specialist to review the details. Thank you for speaking up. - Jason