A couple of months ago, eTrade informed me that they wanted a 3rd W-9, and that they couldn't accept my W-9 tendered in nor the one they asked for in June. The W-9 that was offered in June indicated that I was with a non-profit corporation, a 501 (c) 4, and we were tax exempt. ETrade then indicated that they were going to classify us as an S-Corporation and take out withholding. This doesn't make any sense, since S-Corporations are not subject to withholding. ETrade also alleges that the IRS requested them to certify all non-profits as S-corporations effective the 1st of so I requested eTrade to provide me a copy of the IRS letter, and eTrade refused to do it.
Additionally eTrade refused to provide an annual year end tax statement and alleges they don't provide tax statements for companies. I am wondering if they don't want me to know what is coming to me?
Based on what I have seen at eTrade, it looks like eTrade is stealing money. Their alleged withholding is a sham, and it is no secret that FINRA, SEC, and SIPCA are clearly there for the financial community. They will not do anything for the public.
I would encourage anyone to get their money out of eTrade. This company has countless complaints against it for outright theft. I am looking for another place to park my money, and plan on closing the account.
0 comments