USAA has asked me to sign a W-9 form. When I asked why, they said it is part of the depositary agreement. I've had an account with them for over 20 years, so they don't need it to verify my identity or citizenship. The W-9 is for income and the 1099-INT is adequate for them to report my interest income. The phone rep was unhelpful, he read something but would not point me to a document or forward something that would explain this.
There are quite a few USAA customers here - is this a common practice?
There are quite a few USAA customers here - is this a common practice?