Posted by aliciaCA on 12/24/04 12:40am
Msg #14468

W-9

I did a signing tonite for husband and wife. There was a W-9 for the husband but none for the wife. Should there have been one for the wife also? I had both husband and wife sign it. I'm not sure if I should of done that. What do you think?

I also had a 4506-T for each borrower and the forms ask for spouse's signature. Are they suppose sign each other's 4506-Ts? I assume they did, so I did have them sign each other's form.

Reply by CaliNotary on 12/24/04 1:38am
Msg #14469

Only the person whose name is on the W9 should sign it. Sometimes there is only one for the primary borrower, but most of the time there is one for each borrower. Dont' sweat it if it happens again, just have the person named on it only sign it.

If there is a 4506 for each borrwer I don't have them sign each others. I've never had any problems doing it this way. If both are listed on the form they both sign, if only one is then only one signs.

Remember, these are IRS forms, not loan forms, they don't necessarily do things the same as the loan industry does.

A good rule of thumb on signings. Don't assume anything extra needs to be added. The documents will tell you who exactly needs to sign what, just follow them and everything will be fine.

Now I'm sure somebody will tell me some exception to this, but it's gonna work 99+ % of the time.

Reply by Joan-OH on 12/24/04 1:44am
Msg #14471

I too, at times only see one W9 in the package. It usually means there is only one borrower. My understanding as to the 4506 is if the married couple file jointly, the spouse signs the document. That is how I was taught and it always made sense that if it is a joint return, the IRS is not going to release it without both signatures. So, I always ask if they file separately or jointly and then proceed.

Joan-OH

Reply by mike/ca on 12/24/04 12:20pm
Msg #14487

i have to agree with joan if the couple file jointly they would not be able to access the file without permission of the spouse.

Reply by Terri - CA on 12/24/04 3:04am
Msg #14477

If their name isn't on the doc (for IRS forms) then they don't sign it. For the 4506's if only one name each, then they each have their own and do not sign each others as spouse. I don't ask if they file jointly, I don't feel it's my place to ask, or determine that they should both sign. If they want both, then both names should be on one 4506.

Terri
Lancaster, CA

Reply by aliciaCA on 12/24/04 3:52am
Msg #14478

Thanks so much for your responses. It really helps. I think I'll see if I can catch them tomorrow to do those forms again before I ship them off.

Reply by Nd_WA on 12/24/04 4:34pm
Msg #14494

W-9..."Request for Tax Payer ID" so that interest paid on the loan can be report correctly to the IRS. Who ever's name printed on this form signs it.

Form 4056T... "Request for Tax Transcript", I have seem a separate form for each borrower/spouse lately. Maybe its a new requirement, but then who ever's name is on there signs it.

Reply by Nicole_NCali on 12/27/04 11:34am
Msg #14550

I have begun to keep copies of the W-9 form in my signing case. I also have copies of the 4506-t, in all actuality only one spouse needs to sign in the case of a joint return. The w-9 form is verification of the tax id number and if the proceeds of a sell are going to be jointly held, then all parties need to have a W-9 form on hand (from a selling standpoint) I am relatively new and I have found that some of these companies do not put all the necessary forms in the packet. I just keep a copy and give the title companies more than the requested, this prevents a hysterical call for a signed W-9 or a loose acknowledgment attachment to an affidavit of identification.