why do you have to include your social security number on your power of attorney form

Federal law mandates that state Departments of Motor Vehicles, tax authorities, welfare offices, and other governmental agencies request your SS number as proof that you are who you claim to be.

Full Answer

Do I need a Social Security number for durable power of attorney?

Jan 27, 2010 · In such a case it is proper to request a photo id and your SS number. There are always people who will abuse this information, but for the most part banks and lawyers should not be that type. Furthermore, SS numbers are critical when authorizing someone to have a P of A over your finances.

Should I give my Social Security number to a client?

Nov 19, 2016 · The family member does not need your social security number in order to execute and register a legally enforceable power of attorney instrument. Whether private financial institutions with whom you might engage as an attorney-in-fact under the instrument depends on the type of transaction in question, and also the policies and protocols of the ...

Who has the right to request my Social Security number?

May 22, 2018 · This is a provision of the USA Patriot Act which requires financial institutions to verify your identity. You do need to give your Social Security number (SSN) to: Companies from which you are applying for credit: credit cards, loans of any type, cell phone service. Your department of motor vehicles. Employers.

Why do lenders need my Social Security number to get approved?

Sep 20, 2012 · You have the right to request why she want the social security number. I do not advise any client to provide their SSN out to anyone without knowing exactly the purpose of doing so. Yes, when there are distributions, sometimes a social security number is needed. We have people put their SSN on general durable powers of attorney regularly.

Is a SSN needed for a power of attorney?

Do I need to include my taxpayer ID number (Social Security number or EIN) to file a power of attorney? Yes. Your power of attorney must include your entire nine-digit taxpayer ID number. If you don't include or mask your taxpayer ID number, we will consider your power of attorney incomplete and will not process it.Apr 19, 2019

Why do they need my Social Security number?

Why Do You Need One? A Social Security number is important because you need it to get a job, collect Social Security benefits and get some other government services. You should keep your Social Security card in a safe place with your other important papers and avoid giving it out unnecessarily.

Is it legal to ask for your social security number?

There is no law that prevents businesses from asking for your SSN. And you may be denied service if you don't give the number. If giving your SSN to a business doesn't seem reasonable to you, ask if you can show another form of identification.

What is the difference between a payee and a power of attorney?

An agent under power of attorney still needs to act in the best interest of the person who gave it to her and spend the funds for that person's benefit but a representative payee is something more.Mar 13, 2018

Can I refuse to give my Social Security number?

Yes, you can refuse unless you're legally required to provide your Social Security number (SSN). However, there's also no law preventing businesses from asking for it or refusing you service if you don't provide it.Jul 15, 2019

When did Social Security numbers become mandatory?

In the end, the Board got it both ways—the Post Office Department agreed to accept returned SS -5s without postage on October 8, 1936, and the Treasury Department issued the regulations making the SSN mandatory on November 6, 1936 (McKinley and Frase 1970, 351–352 and 360).

Is SSN mandatory?

In general, only noncitizens authorized by the Department of Homeland Security (DHS) to work in the United States can get a Social Security number. Although many other businesses, such as banks and credit companies, also ask for your number, you aren't required to provide it.

What your Social Security number says about you?

Many businesses ask for your SSN because it is a convenient way to identify you in their system. As a result, your social security number can now reveal all kinds of information about you, including places you've lived, your credit history, and maybe even medical conditions.

Can you change your Social Security number?

The Social Security Administration does allow you to change your number, but only under limited circumstances, such as identity theft or if your safety is in danger. You will also need to supply appropriate documentation to support your application for a new number.May 12, 2021

What happens to Social Security when someone passes away?

What happens if the deceased received monthly benefits? If the deceased was receiving Social Security benefits, you must return the benefit received for the month of death and any later months. For example, if the person died in July, you must return the benefits paid in August.

Can I be my own payee for Social Security?

Can I be my own payee? Yes. To be your own payee, you need to show Social Security that you are physically and mentally able to manage your money.

Can Social Security assign a payee?

Social Security's Representative Payment Program provides benefit payment management for our beneficiaries who are incapable of managing their Social Security or Supplemental Security Income (SSI) payments. We appoint a suitable representative payee (payee) who manages the payments on behalf of the beneficiaries.

Robert E. Millsap III

You need more transparency and disclosure before you give her your SS#.#N#The only reasons that I can see why she would need them would be to give it to a financial institution that is going to send you an information return or if the estate was so large that a 706 inheritance tax return was going to be filed.

Joseph Franklin Pippen Jr

I would not give the # without some explanation.#N#Have your attorney write her a letter requesting#N#an explanation and demanding an accounting of assets#N#which you are entitled.

What happens if you refuse to provide your SSN?

If you refuse to provide your SSN, companies may choose not to do business with you , but there's no law that prevents them from asking for it. These are some examples of businesses that require a Social Security number for legitimate purposes: • Insurance companies.

When was the Identity Theft Task Force established?

Criminals took advantage of that complacency, and as a result, the federal government established the Identity Theft Task Force in 2006. One of the first recommendations the task force made was decreasing the unnecessary use of Social Security numbers.