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hilln01 · May 23, 2012, 11:40 AM

My daughter's father is requesting my daughter's social security number for opening a savings account or bank account for her. She is only 12, and he doesn't claim her for taxes or provide health benefits. I don't see why he would need her social security number to open a savings account. Any advise?

ebaines · May 23, 2012, 12:28 PM

Originally Posted by hilln01

My daughter's father is requesting my daughter's social security number for opening a savings account or bank account for her. She is only 12, and he doesn't claim her for taxes or provide health benefits. I don't see why he would need her social security number to open a savings account. Any advise?

The bank does indeed need the social security number for your ex to open an avvount on behalf of your daughter. He should be opening an account in the child's name under the state's uniform gift to minors act, making himself the guardian of the account for her benfit, and she is then responsible for paying any income tax that may be due on interest, dividends, capital gains etc that the account may generate. So the bank needs her SS number in order to generate any 1099-DIV forms that may be coming. Also since 9/11 banks must verify the identities of all depositors.

smoothy · May 23, 2012, 12:29 PM

Just give it to him.. its his daughter and he has the right to it.

tickle · May 23, 2012, 12:31 PM

Well of course it is a learning process for her to use her ssn no, to open an account and it is required for ID purposes. You should have no problem with this, it would benefit her.

hilln01 · May 23, 2012, 12:37 PM

Originally Posted by ebaines

The bank does indeed need the social security number for your ex to open an avvount on behalf of your daughter. He should be opening an account in the child's name under the state's uniform gift to minors act, making himself the guardian of the account for her benfit, and she is then responsible for paying any income tax that may be due on interest, dividends, capital gains etc that the account may generate. So the bank needs her SS number in order to generate any 1099-DIV forms that may be coming. Also since 9/11 banks must verify the identities of all depositors.

Since she is a minor, wouldn't that then make me responsible for any income tax, etc. Would it be better for him to open a savings account in his own name that she could have access to or that he could give her the funds later in life? I just want to protect my daughter's social security number and I feel that at 12 yrs. Old it is a little early to be teaching her about interest and taxes. I'm not trying to make it difficult for him, but I do want my daughter's social to be safe for when she does need it later for credit building.

hilln01 · May 23, 2012, 12:40 PM

Originally Posted by smoothy

Just give it to him..its his daughter and he has the right to it.

That is easy for you to say. He is an immigrant facing deportation and has no financial responsibility for her since he claims that he can't earn an income. Before you get snippy, please make sure that you are aware of situations. Family matters can be difficult. I want my daughter's social to be clean when she hits 18 and needs to build credit. Him opening a bank account, when he has no income, seems a bit far fetched and an unsafe practice. It is his daughter, but that doesn't mean that I have to possibly allow him to destroy her credit. Apparently you haven't been in my shoes.

smoothy · May 23, 2012, 12:55 PM

Originally Posted by hilln01

That is easy for you to say. He is an immigrant facing deportation and has no financial responsibility for her since he claims that he can't earn an income. Before you get snippy, please make sure that you are aware of situations. Family matters can be difficult. I want my daughter's social to be clean when she hits 18 and needs to build credit. Him opening a bank account, when he has no income, seems a bit far fetched and an unsafe practice. It is his daughter, but that doesn't mean that I have to possibly allow him to destroy her credit. Apparently you haven't been in my shoes.

He's still the father... and will remain the father until he agrees to let someone adopt her... no matter if you like it or not,and legally he has just as much right as you do.

He could go to court and file for custody... and you couldn't stop him... not saying he would win... but nobody can guarantee he wouldn't either.

I'm 50... trust me... I've seen a lot more than you think I have in my lfe so far. Not being snippy here... just being direct.

ebaines · May 23, 2012, 12:58 PM

Originally Posted by hilln01

Since she is a minor, wouldn't that then make me responsible for any income tax, etc.?

Yes, you are responsible for filing her taxes as long as she is a minor, but the bank reports it using her ss number, not yours (it's her money, not yours).

Originally Posted by hilln01

Would it be better for him to open a savings account in his own name that she could have access to or that he could give her the funds later in life?

Depends what the objective is. If he is interested in having his daughter be able to have a bit of savings for college or after opening an account in her name is a nice way to do it, and gives him some control over how the money is invested. Yes, he could wait and give the money to her later (assuming that the amount is relatively small, so he doesn't exceed the $13K annual exclusion for gifts). Personally I don't think setting up a joint account as you suggest is a good way to go - it doesn't guarrantee that the money is actually hers, and besides he would still need to provide the SS number.

Originally Posted by hilln01

I just want to protect my daughter's social security number and I feel that at 12 yrs. old it is a little early to be teaching her about interest and taxes.

For comparison - I established custodial accounts for both my children when they were under a year old, and now that they're both parents themselves they have done the same for their children - all of whom are under two years of age. It's never too early to start saving for the kids.

Originally Posted by hilln01

I'm not trying to make it difficult for him, but I do want my daughter's social to be safe for when she does need it later for credit building.

You obviously seem to think he's trying to do some sort of scam. Maybe so - but we don't know him (or you). I would say that it would be a good thing if more parents were to set up custodial acounts for their chldren.

ebaines · May 23, 2012, 01:04 PM

Originally Posted by hilln01

That is easy for you to say. ... Before you get snippy, please make sure that you are aware of situations. .... Apparently you haven't been in my shoes.

Hilln01 - you asked for advise, and smoothy gave you his. You don't have to like what he has to say, but please don't criticize him for giving advice based on the info you provided.

tickle · May 23, 2012, 04:34 PM

Originally Posted by hilln01

That is easy for you to say. He is an immigrant facing deportation and has no financial responsibility for her since he claims that he can't earn an income. Before you get snippy, please make sure that you are aware of situations. Family matters can be difficult. I want my daughter's social to be clean when she hits 18 and needs to build credit. Him opening a bank account, when he has no income, seems a bit far fetched and an unsafe practice. It is his daughter, but that doesn't mean that I have to possibly allow him to destroy her credit. Apparently you haven't been in my shoes.

You didn't make us aware of the situation in your original post, so quite frankly, don't jump on our case if you get an answer you don't like. Smoothy had no idea of your family dynamics, you didn't tell us, did you.

If you don't want this person to open an account with your daughter's personal information then say no, that is all you have to do.

Next time say all you have to, so we understand where you are coming from.

hilln01 · May 23, 2012, 09:27 PM

Thanks for the advice all. I appreciate it. I've decided that since I have full custody and he has supervised visits only, that I should probably remain skeptical of his motives and say no. The courts have already ruled their skepticism of this Father and I think it's best if I follow their lead. For future reference, one should not just reply with "give it to him, it's his daughter". Not all custodial parents are resentful or spiteful of the other parent, and protection of the minor is what is always the best route. Thank you for your time and I value the points raised.

;)

smoothy · May 24, 2012, 05:34 AM

Originally Posted by hilln01

Thanks for the advice all. I appreciate it. I've decided that since I have full custody and he has supervised visits only, that I should probably remain skeptical of his motives and say no. The courts have already ruled their skepticism of this Father and I think it's best if I follow their lead. For future reference, one should not just reply with "give it to him, it's his daughter". Not all custodial parents are resentful or spiteful of the other parent, and protection of the minor is what is always the best route. Thank you for your time and I value the points raised.

;)

For future reference... YOU should read the site rules... YOU don't get to dictate what the answer is or who makes it. And its amazing its always the NooB that make those statements.

He has no conviction for Identity theft... therefore you are jumping to conclusions based in your resentment for him.

It IS his daughter.. he DOES have the legal right to that information... what you like or don't like has no bearing on that.