OLCC deed transfer - wants an IRS W-9

I just purchased a resale at Orange Lake in Orlando, from a private seller. The deed has been filed and today I received a welcome letter from OLCC's deed transfer department. They say in the letter that "to complete the transfer" I need to fill out the attached IRS W-9 and mail it back to them. This is my 4th timeshare purpose and the first time I've ever been asked to fill out this form.

Why do they want this?

I, too, have just completed a re-sale purchase for an OLCC unit. I called the Deeding Dept back and asked about the form they sent me (W-8 since I'm a non-resident). The explanation was that the IRS requires that they have either the W-8 or W-9 form for every week/unit they have, in case of any rental income you receive. Otherwise, you may be charged a withholding tax.

When I told them that I have no intention of renting this unit out, I was told that it didn't matter. When the IRS asks them for the form, they have to be able to produce it. I have yet to send the form back, since I haven't been able to figure it out! But I guess I should get on that.

Anyone else have a similar experience?

I wonder why this "IRS rule" applies to OLCC and not the 3 other units that I own. Is it perhaps because OLCC runs an internal rental program and the others don't? Do they have such a program?

They might be trying the income angle as justification, but if you do not participate in that program you have no requirement.

They more likely want the SSN to make it easier to track you down and attack your credit rating should you not pay MFs.

I would demand to speak to the legal dept. or give in and give them your ssn.

johnmfaeth said:

They might be trying the income angle as justification, but if you do not participate in that program you have no requirement.

They more likely want the SSN to make it easier to track you down and attack your credit rating should you not pay MFs.

I would demand to speak to the legal dept. or give in and give them your ssn.

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In that case, maybe I won't get right on that. It will be interesting to see how long it takes for them to send me a letter asking for the return of the form.

They'll try anything to get information.

jeffcarp said:

I just purchased a resale at Orange Lake in Orlando, from a private seller. The deed has been filed and today I received a welcome letter from OLCC's deed transfer department. They say in the letter that "to complete the transfer" I need to fill out the attached IRS W-9 and mail it back to them. This is my 4th timeshare purpose and the first time I've ever been asked to fill out this form.

Why do they want this?

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Total bull. Unless you are signing on to a rental program they do NOT need the form. Do not return it. You don't want a timeshare sales/customer service department to have your social security number unless absolutely necessary. They DO need it if you are renting through them but otherwise no way.

I get letters once a year or so from Vistana with the same garbage. They want my ss # for rental/mortgage purchases. Since I have no mortgage or plans to rent my units, I just ignore them.

Sheila

timeos2 said:

Total bull. Unless you are signing on to a rental program they do NOT need the form. Do not return it. You don't want a timeshare sales/customer service department to have your social security number unless absolutely necessary. They DO need it if you are renting through them but otherwise no way.

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John, What about if you sell back to the co you purchased.????They ask for you to fill out those forms. Reason ,the I R S wants every sale for taxes owed if any. Thanks

All a W-9 form does is...

They need a W-9 form for verification of SS# because there is an IRS law which will fine $50 per occurence the entity supplying a false SS# to any W-2 or 1099 forms. This can amount to a lot of needlessly paid $$$ which could have been avoided by using a W-9.

Now I hope people are not refusing to use W-9s to avoid paying taxes now right??? :hysterical:

frenchieinme

But if you have no income nor anticipation of income, there will be no W-2 or 1099 possible.

So they want your SS# for other reasons. In these days of fraudm many are getting more protective of up and they have no rights under th elaw to demand it.

Sure if there is a sale, that is a legitimate request and it can be supplied at that time. As will your signing of a new deed.

But this is a 100% bogus way to emplyer any future collections activities. This I know as a fact.

Has nothing to do with paying your taxes, has to do with personal identity theft security concerns and being lied to and deceived that something is needed for a legitimate purpose when it's not.

PS. The following companies has no such requirements from my personal experiences:

Wyndham
Starwood
Marriott
Divi
Celebrity
VRI
Royal Host

5 minutes in my closings files would yeild 50 independent resorts for the list.

frenchieinme said:

They need a W-9 form for verification of SS# because there is an IRS law which will fine $50 per occurence the entity supplying a false SS# to any W-2 or 1099 forms. This can amount to a lot of needlessly paid $$$ which could have been avoided by using a W-9.

Now I hope people are not refusing to use W-9s to avoid paying taxes now right??? :hysterical:

frenchieinme

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But that would only apply if there was income (usually rent). There is zero need to have it on file until a real or potential rental situation occurs.