Administrator
Administrator
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149 Comments (149 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?

149 Comments
New Member

I called USAA today only to be told by a lady that the IRS requires this form and that it is the law. The more questions I asked the less she could answer.  She finally told me I can either fill the form out or risk my account being closed and not allowed to open another account. When I asked for the corporate phone number she told me she could not give me that information and of course her supervisor was not available.  I asked again about why I needed to fill this form out and she put me on hold for 7 mins. 

I constantly see USAA saying they will refer you concerns to someone but just like they sent the email demanding information they can post a message without giving peoples personal information a reason for this form. And the real reason why they want this information. Because, simply having a person tell you it is so USAA can report your earnings to the IRA is really unacceptable

USAA Service
USAA Service

@LostWithThem, thank you for reaching out. I understand that you have concerns about a request for a W9. A tax certification W-9 is a required form that certifies the member's backup withholding (BUW) status with the IRS. USAA uses this form to report the member's correct tax identification number (TIN), and associated name for all primary accounts (checking, savings, certificate of deposits) the member has, to the IRS. This includes payments to members that are subject to backup withholding (BUW). These payments include, but are not limited to:

  • Earned interest
  • Promotional Credits

After reviewing current IRS standards for a valid W-9 form, USAA determined that we need to obtain a new Tax Certification W-9 Form for primary deposit account holders.

 

Excellent service is still a top priority for USAA. Therefore, I would like to thank you for the feedback that you provided regarding today's phone conversation. We will review the situation for any servicing opportunities. ~DC

Contributor

15 pages of negative comments about this, time to add mine.  I have five (5) checking accounts that are "trust" accounts.  Each has an EIN (employee identification number) that I provided USAA originally WHEN I OPENED each account.  Now, two accounts have had "tax withheld" transactions in January and February. I received NO communication or request for a W9 for one of the two.   When I requested a letter, just this past week...it took the Representative about 25 minutes, much with me "on hold" to generate one.  I received it yesterday...but guess what...it has MY NAME on it...NOT...the name of the account, which is the name of the trust!  What an utter fiasco.  How about some phone calls before you start WITHHOLDING tax USAA?  I am done with USAA after 35 years as a member.  My banking is going to my local credit union, where I can actually talk in person to someone knowledgeable.

USAA Service
USAA Service

@Frustrated2020a, I can see you're upset and will engage a subject matter expert to review your situation further. Please allow sufficient time for completion of their review and we will follow up with you. - Ben

New Member

I've gotten 3 different answers to why I need to update a w9 form. I have no income that is taxable and when my direct deposit it's, it is gone within a couple of days after paying my bills, therefore it is not in my account long enough to gain interest. I have never been asked from any other banking institution to fill out or update a w9 form. I have been a USAA member since 1984 and the last several years I have had nothing but problems. My insurance keeps going up and when we call it's all excuses. I'm 64 with no accidents or violations and I'm the only driver. I'm getting ready to look for other insurance and changing my bank. 

USAA Service
USAA Service

Hello @Worn out. I am very sorry to hear that you have gotten a few different answers regarding the W9 form. A Tax Certification W-9 is a required form that certifies our members back up withholding (BUW) status with the IRS. USAA uses this form to report the member’s correct tax identification number (TIN), or employer identification number (EIN), and associated name for all accounts (checking, savings, certificate of deposits) member is primary account holder on, to the IRS. We do periodically need to update these to make sure all information is correct. I will forward your feedback regarding getting different answers. I have also forwarded your concerns regarding your insurance to a specialist. They will be reaching out shortly. -Colleen

 

 

USAA Service
USAA Service

@Worn out, I can certainly understand how frustrating rate increases can be. We would hate to lose your business and would welcome the opportunity to review your policies to see what options are available. Please give us a call at 800-531-USAA (8722) or initiate a chat on usaa.com so we can further assist with the insurance review. ~Danielle

Regular Contributor

I have been fighting with this issue with USAA for over 5 years. Now they are denying me the ability to check the status of my accounts to ensure nor fradulent transactions have occured.

 

When I first got the W-9 notice over 5 years ago, I complied. USAA continued to pester me about signing it so I sent them a copy of the signed form. They claimed I never signed one.

I too got the "pardon our interruption" notice. Then you could exit it, then go back in and see your balances/transactions for the account. Now USAA has illegally block me from seeing my transactions.

 

I called, and spoke to a contractor with a significant attitude. She told me the form was filled out incorrectly (the one they claimed I never submitted) and was promised a call from some "manager" at an unspecified level. I never got the call.

 

When USAA first started this merry-go-round I wanrned them. Keep it up and everytime it gets worse, I will move assests out of USAA. 

 

I moved my 401K's out of USAA for their stupidity and they MISFILED THE IRS DOCUMENTS. This triggered an audit by the IRS along with a demand for back taxes. My records were clear and the IRS determined that USAA WAS AT FAULT for misfilling the transfer documents. The IRS dropped the collection action against me and the auditor determined I owed nothing. USAA didn't even appologize for their retalitory actions.

 

I closed another account, transferring the 6 digit balance to another financial institute. Again, USAA tried to cause trouble.

 

Now I am in the process of closing out my last USAA accounts.

 

40+ years ago I started with USAA insurance. Very shortly USAA insurance will be my last and only account with this company.

 

I used to tell people about USAA with pride. Now when USAA banking/financial is mentioned anyone who is/was a member tells their horror story. 

 

USAA, I gave you multiple chances to fix the problem on your side. Now you have contractors providing customer service, really?

 

I am very, very disappointed.

USAA Service
USAA Service

@Been there Done That, I'm very sorry to hear of your disappointment. This is never how we want our members to feel and certainly not the experience we want you to have. We value your feedback and I will ensure your concerns are reviewed by the appropriate department. Thank you. ~Robyn E.