Rabbi trust
Budget: $30 – $250 USD
I have a Rabbi Trust intact with Washington Mutual bank as the trusty. The bank is requesting a letter indemnifying them from any liability from the IRS for them 1099 me and me being responsible for the taxes. This is a quote from their request
“ WTB can produce a 1099 for you. Please send us the letter detailing you hold WTB harmless for the liability of withholding taxes, outlining where to send funds, and directing WTB to produce a 1099 to you.”
Basically Washington Trust Bank wants these in a legal letter before they can pay me the distributions from the trust.
“ WTB can produce a 1099 for you. Please send us the letter detailing you hold WTB harmless for the liability of withholding taxes, outlining where to send funds, and directing WTB to produce a 1099 to you.”
Basically Washington Trust Bank wants these in a legal letter before they can pay me the distributions from the trust.