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I am going throught the process of applying for an auto loan for my business. I sent the banker the
Tax Returns from 2017. Now she wants me to sign a blank Form 4506 and she will request a transcript from IRS.
Is it normal to ask for a signature on a blank form? I insisted she fill it out or send me a copy after she fills
it out, but I am not getting a satsifactory response.
I wanted to make sure I am not blowing this out of proportion. Should I push back on signing this doc?
I personally don't think it's a big deal. They aren't going to request someone else's returns using your signature. I am assuming you've already provided your SSN, DOB and address, so there's not much they can do with the form 4506 that is worse than they could do with all that other information.
It's your but on the line,so you should be feeling confident and secure. Signing blank documents does not provide any security. Cya,cause no one else will.
I would never sign a blank 4506 form. You are giving the holder of that document the power to pull up your most private financial info, for up to 8 tax years. Get a tax transcript yourself and give it to the banker.
Are you an llc? It helps to understand how your business is titled.
If you are less then 3 yrs (start up business) most will approve with you signing the person guaranty.
I would never sign a blank 4506 form. You are giving the holder of that document the power to pull up your most private financial info, for up to 8 tax years. Get a tax transcript yourself and give it to the banker.
Yeah, don't sign a blank form. Look at Wells Fargo and all their troubles because of shady practices. You'd think a big bank would do things by the book, but they don't.
Fill it out in person and sign it when it is complete and they checked whichever boxes and filled out whichever lines. Only sign it after that. They key is to do it in person. Just a suggestion.
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