Common use of Certification and Identification Clause in Contracts

Certification and Identification. Pursuant to the Account Card used to open your account(s) with us, you provided a certification regarding the accuracy of your taxpayer identification number (usually your Social Security Number) and whether your account is subject to backup withholding under the Internal Revenue Code. This certification applies to any and all accounts you have with us now or in the future, unless you provide written notification to us that specifically provides otherwise. You agree to comply with all of our requirements for identification which we may require, including photographing, video recording and providing fingerprints or other biometrics. If your account is subject to backup withholding, we must withhold and pay to the Internal Revenue Service a percentage of dividends and certain other payments. If (a) you fail to provide your correct TIN to us or meet other requirements associated with your TIN certification, (b) we find that the TIN you provided is incorrect, or we suspect the TIN you provided to us is incorrect and you fail to provide us with satisfactory documentation verifying your TIN within fifteen (15) days of our written request, the Credit Union may suspend and/or restrict all or a portion of the activity on your account or close your account, whichever is applicable or deemed appropriate by the Credit Union.