Good Morning! I seem to be getting different answers to this question: Does "backup witholding" need to be marked on ALL signature cards for ALL types of accounts always (savings, checking)? I was trained to mark backup witholding only on signature cards of accounts that earn interest (example: savings, NOW, etc). Please help. Thanks you in advance.

I don't understand. Are you talking about on the W-9?

On the signature card for TX there is a block that reads "Backup Withholding Certifications". Within the block the customer certifies that the "Taxpayer ID Number" is correct; that he or she is not subject to backup witholding; and or that he or she is an exempt recipient under the IRS Regs and then their signature.

It is within this block that I was trained to only mark "Backup Withholding" if the account that is being opened is an account that earns interest. However, I have individuals that tell me this block should always be marked no matter what type of account it is, if it earns interest or not.

The "Backup Withholding" block reads: "I am not subject to backup witholding either because I have not been notified that I am subject to backup withholding as a result of a failure to report all interest or difvidends, or the Internal Revenue Service has notified me that I am no longer subject to backup witholding."

There is no requirement for the substitute W-9 information to be completed on a non-interest bearing account.

Thank you so much for your help. Greatly appreciated.