Why do you need my designated beneficiarys personal information, including his or her Social Security number (or taxpayer identification number) and address?
The Plan is required by federal law to obtain certain personal information, which will verify your designated beneficiary’s identity. If you don’t provide the requested information, we will not be able to open the account. If we are unable to verify the designated beneficiary’s identity, the Plan reserves the right to close the account or take other steps we deem reasonable. Your designated beneficiary’s Social Security number is also required for tax-reporting purposes.
Related Questions
- Why do you need my designated beneficiarys personal information, including his or her Social Security number (or taxpayer identification number) and address?
- Why does a beneficiary, estate or trust need to provide their Social Security Number or Federal Tax Identification Number?
- What if a Wrong Social Security Number or Federal Taxpayer Identification Number is preprinted on my Verification Form?
