opening an escrow account for a security deposit

[Evan Kelleher]

Are you required to get a tenants W-9 form in order to open an escrow account, or is there an easier way to put it in to another type of account where you wouldn't have to do that?

[Rick S.]

@Evan Kelleher Sorry as I didn't realize how strict the MA deposit rules are so the W-9 may be required in order to ensure the deposit account is "protected from creditors" so that would explain needing a W-9 or Social for the tenant.  I looked around some other posts and found it may vary by bank but it appears to be common in MA for some banks to require the W-9.  Sorry about that!