W-9 for POD

Posted By: Amy S

W-9 for POD - 05/21/22 01:24 PM

If we have an executor come in to close an account with PODs listed, we are cutting checks to the PODs. My question is this: for the W-9 if each POD is not present, do they have to sign the W-9? I'm finding some conflicting info and the IRS site isn't helping my confusion.
Posted By: BrianC

Re: W-9 for POD - 05/21/22 04:45 PM

If you have interest to report to the IRS using the beneficiaries’ social security numbers, then requesting them on a W-9 would be appropriate. If you don’t have anything to report to the IRS, you would have no reason to collect that information.