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#1597527 - 08/29/11 12:46 PM Banking Requests for Customer Information
52OPS Offline
100 Club
Joined: Apr 2008
Posts: 199
Are Financial Intitutions required to respond to IRS Levy's and SSA e4641 information requests from the IRS and the Social Security ADministration? Or should banks require a subpoena before releasing customer information to either the IRS or SSA. My thought is that FI's are required to place holds on funds for IRS Levy's, but I'm not sure on SSA e4641 information requests?

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Operations Compliance
#1597550 - 08/29/11 01:54 PM Re: Banking Requests for Customer Information 52OPS
Doug Hendrickson Offline
Power Poster
Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
The SSA e6461 is actually a request from the customer, made through the SSA. If you read the language of the request, the requestor seems to have little choice: ask for the information or risk losing benefits. Apparently this is part of the agreement when you received funds from the SSA.
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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