Common use of Identification, Social Security Number and Backup Withholding Clause in Contracts

Identification, Social Security Number and Backup Withholding. To join the credit union and/or open an account, in addition to providing us with your current name, residential or business street (or physical) address (and if different, your mailing address), phone, and birth date, we will require you to provide us with current government issued picture identification and a Social Security Number (SSN) or Employer Identification Number (EIN), certify for Internal Revenue Service (IRS) reporting purposes that the number matches the name and address, and indicate whether you are currently subject to backup withholding and whether you are a US person. In the event the IRS indicates that there is a problem with the name and number provided by you for the account on Part 1 of this contract or otherwise notifies us, your account may become subject to backup withholding, which will require us to withhold and pay a portion of the dividends, interest or other payments to the IRS.