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Backup Withholding Certification

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Question: 
Our signature card has the Backup Withholding Certification in the bottom left hand corner. We are having an issue at our institution where the customer service representatives feel that having obtained the customer's signature on any one account, they no longer need to get certification on future signature cards. I feel that recertification is needed on each new account. What are your thoughts concerning this?
Answer: 

Technically, one properly completed W-9 per customer is all you need. However, leaving that decision up to the individual customer service representatives might not be the best idea.

First published on BankersOnline.com 6/28/10

First published on 06/28/2010

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