Common use of Identifying You Clause in Contracts

Identifying You. To help the United States Government fight terrorism and money laundering, federal law requires us to obtain, verify, and record information that identifies each person that opens an account. What this means for you: when you open an account, we will ask you for your name, street address, and date of birth. To open an account with us, you must be at least 18 years old, a U.S. citizen or a resident alien with a valid Social Security number ( SSN ) or other taxpayer identification number ( TIN ) and have a residential address in the United States, APO/FPO, Puerto Rico, U.S. Virgin Islands, Guam, American Samoa or Northern Mariana Islands. We may also ask to see your driver’s license or other identifying documents that will allow us to identify you. We appreciate your cooperation. Consumer Reporting Agencies. By submitting an application to open an account, you authorize us to obtain information about you from time to time from consumer reporting agencies, our subsidiaries and affiliates, and other third parties for the purpose of considering your account application or any other legitimate purpose. We may also report the status of or the closure of your account to consumer reporting agencies, our subsidiaries and affiliates, and other third parties. Taxpayer Identification Numbers (TIN)/Backup Withholding. We are required by federal law to obtain your correct taxpayer identification number ( TIN ) in order to avoid potential backup withholding and to report interest income paid to you in connection with your account. If you are subject to backup withholding or if the Internal Revenue Service ( IRS ) notifies us that we do not have a correct TIN for you, we may be required to withhold and remit to the IRS a percentage of interest paid ( backup withholding ) to your account(s). Amounts withheld are reported to the IRS as federal tax withheld and will be reflected on your IRS Form 1099-INT, Interest Income. A TIN may be in one of the following forms: (a) your Social Security number ( SSN ) if the account is in your name and you are either a U.S. citizen, permanent resident, or otherwise eligible to receive a SSN from the Social Security Administration; or (b) an individual taxpayer identification number ( ITIN ) if you are not eligible to receive a SSN from the Social Security Administration.