Backup Withholding. Federal law requires us to have a correct Taxpayer Identification Number (TIN) for every account, and the Internal Revenue Service (IRS) requires you to certify to us whether you are subject to backup withholding. If you are subject to backup withholding, you do not furnish us with the correct TIN, you do not properly certify that you are not subject to backup withholding, or if the IRS notifies us that we do not have a correct TIN for your Account, we may close the Account. Amounts withheld are reported to the IRS as federal income tax withheld, and will be reflected on your year-end 1099-INT Interest Income Statement. You will not be eligible to apply for a new Business Savings Account until ninety (90) days after the date of closure.
Appears in 6 contracts
Samples: Business Savings Account Agreement, Business Savings Account Agreement, Business Savings Account Agreement
