Fictitious IRS Forms and
Financial Institution Letters
Courtesy of CUNA Mutual

The Office of the Comptroller of the Currency has issued a nationwide alert regarding fake letters and tax forms are going to account holders in an effort to obtain personal financial information.

Most members report interest income when they file their annual tax return. A few, however, have the applicable taxes taken out as the money is earned through backup withholding. By citing the relatively infrequent practice of backup withholding, scammers are hoping to get their hands on account and personal data. The letter, purportedly from the financial institution, is sent to account holders claiming to be an effort to ensure accounts remain exempt from backup tax withholding. An official-looking "Form W-9095" (Form W-9095 does not exist) is included with the correspondence. The account holder is urged to complete the form and send it as soon as possible to the fax number provided. Failure to do so, the bogus letter warns, could mean the financial institution will start withholding taxes on the account. Unfamiliarity with tax laws, coupled with the fear of losing account interest to the IRS and the pressure of tax-filing season could prompt unsuspecting account holders to release personal financial information.

The bogus document appears to be based on the valid IRS Form W-9, Request for Taxpayer Identification Number and Certification. Financial institutions sometimes ask customers to complete a W-9, a brief form to obtain ID number so the earnings can be cross checked when the taxpayer files a return. An account number is not even required on a valid W-9. The bogus form, however, asks for much more: marital status, place of birth, parents' names, account number, passport information, work history, PINs and passwords. Such detailed personal data is consistent with identity theft schemes.

For more information Office of the Comptroller of the Currency (OCC) web site http://www.occ.treas.gov. Copies of the letter and fake form are on the web site.

Preventative Methods

• If you receive the scam correspondence, but did not reply, still call the credit union to report it.
• If you complied with the fake information query, immediately alert your credit union and other financial institutions with which you do business.
• Contact the fraud department of the 3 major credit bureaus to report possible identity theft:
  Equifax: P.O. Box 740241, Atlanta, GA 30374-0241, (800) 525-6285 www.experian.com
  Experian: P.O. Box 2104, Allen, TX 75013, (888) EXPERIAN (397-3742) www.equifax.com
  Trans Union: 760 Sproul Road, P.O. Box 390 Springfield, PA 19064-0390, (800) 680-7289 www.tuc.com
• If you discover any accounts have been fraudulently accessed or opened, also contact the security department of each affected creditor or financial institution.
• Consider closing these accounts.
• File a report with the local police department or the police where the identity theft took place.
• Finally, the IRS wants help in keeping track of tax-related scams. Even if you did not fall for the scam, the agency asks that you report the event to its criminal investigation unit via its toll-free hotline at (800) 829-0433.