Is it normal for an oil company to ask for bank routing and social security numbers for all heirs ?
Yes, so they can put everyone in line for payments via automatic deposit.
Yes, for income tax purposes as well. Each heir will need to provide a W-9. You do not have to do automatic deposits. Just request regular checks in the mail if you prefer that. Delays a bit and subject to theft, but you do have that option.
Thank You . This a very scary process
You actually do not need to put the SS# on the DO. You make a note on the DO that says “see W-9”. The Division Order is private and stays with the company. It is not published at the county or anything like that. Hopefully the operator has corporate security in place. They just need the EIN or SS# for taxes.
1 Like
This topic was automatically closed after 90 days. New replies are no longer allowed.