Who Can Lawfully Request My Social Security Number?
From an article about identity theft protection.
The Privacy Act of 1974 stipulates that you aren't legally required to provide your SSN to businesses unless one of the following is true:
• You'll be engaging in a transaction that requires notification to the Internal Revenue Service; or
• You're initiating a financial transaction subject to federal Customer Identification Program rules.
If you refuse to provide your SSN, companies may choose not to do business with you, but there's no law that prevents them from asking for it. These are some examples of businesses that require a Social Security number for legitimate purposes:
• Insurance companies
• Credit card companies, lenders, and any other company receiving a credit application from you
• The three main credit reporting agencies: TransUnion, Equifax, and Experian
• Any company that sells products or services that require notification to the IRS, including investment advisors; banks; real estate purchases; financial transactions over $10,000, such as automobile purchases; and other financial transactions
It's important to remember that, once a company has your Social Security number, there are few restrictions on what they can do with it. You'll therefore want share this information only when absolutely necessary or required by law. Being very careful about sharing your SSN or any other personal information is a recommended way to help deter identity theft.
From an article about identity theft protection.
The Privacy Act of 1974 stipulates that you aren't legally required to provide your SSN to businesses unless one of the following is true:
• You'll be engaging in a transaction that requires notification to the Internal Revenue Service; or
• You're initiating a financial transaction subject to federal Customer Identification Program rules.
If you refuse to provide your SSN, companies may choose not to do business with you, but there's no law that prevents them from asking for it. These are some examples of businesses that require a Social Security number for legitimate purposes:
• Insurance companies
• Credit card companies, lenders, and any other company receiving a credit application from you
• The three main credit reporting agencies: TransUnion, Equifax, and Experian
• Any company that sells products or services that require notification to the IRS, including investment advisors; banks; real estate purchases; financial transactions over $10,000, such as automobile purchases; and other financial transactions
It's important to remember that, once a company has your Social Security number, there are few restrictions on what they can do with it. You'll therefore want share this information only when absolutely necessary or required by law. Being very careful about sharing your SSN or any other personal information is a recommended way to help deter identity theft.
