Instruction and Informed Consent to Allow Tax Preparation Software Providers Access Your Account Information
Your Instruction to Schwab. On this page you can direct Charles Schwab & Co., Inc. and its affiliates ("Schwab", "we" or "us") to allow third-party tax preparation software providers (each a "Tax Preparation Software Provider") that you designate to access and export your Schwab account information ("Account Information"). By instructing us to do this, and by clicking "Continue" below, you are agreeing to these terms, which we may amend from time to time, and providing your informed consent. You are accepting the responsibility and risks summarized below. We may change, suspend or cancel this instruction at any time. A copy of these terms is available at schwab.com/taxprepinformedconsent.
The Account Information You Will Be Sharing. For each brokerage, loan, line of credit, and/or deposit account that you instruct us to link to a Tax Preparation Software Provider , you are authorizing Schwab to allow that Tax Preparation Software Provider access to your Account Information including the following categories: account descriptors, information exported by the Tax Preparation Software Provider used to populate tax forms, including, but not limited to, Form 1099-B, Form 1099-DIV, Form 1099-INT, Form 1099-MISC, Form 1099-OID, and Form 1099-R.
Schwab does not customize the Account Information that Tax Preparation Software Providers can access, which means the amount and type of Account Information may be more or less than is required for particular Tax Preparation Software Providers to provide the services you are expecting to receive from them.
Your Tax Preparation Software Provider will not be able to import your complete Social Security Number, email, residential address, phone number, Schwab account access credentials (including login IDs and passwords), or date of birth. The first five digits of your Social Security Number will be masked. You should safeguard this personally identifiable information, and you should not share your Schwab login credentials with anyone, including with a Tax Preparation Software Provider.
The Tax Preparation Software Provider and Those They Work With Are Your Authorized Persons. You agree that by instructing us to share your Account Information with a Tax Preparation Software Provider, you are authorizing any activity that the Tax Preparation Software Provider undertakes as a result, even if you did not anticipate that activity. This includes activities by the Tax Preparation Software Provider, its employees and agents, any financial or other apps and companies with whom the Tax Preparation Software Provider does business and will share your Schwab Account Information. You understand that sharing Account Information could potentially expose you to increased privacy and security risks, including fraud and unauthorized transactions.
How the Schwab Security Guarantee Applies. The Schwab Security Guarantee linked to below covers losses in your Schwab accounts, including any accounts to which you instruct us to give access to a Tax Preparation Software Provider. You understand that the protections of the Schwab Security Guarantee will not apply to losses caused by the use, disclosure or exposure of your Account Information by a Tax Preparation Software Provider or other third party with whom a Tax Preparation Software Provider shares your Account Information because they are your authorized persons. DO NOT SHARE YOUR SCHWAB LOGIN CREDENTIALS WITH ANYONE OR THE SECURITY GUARANTEE WILL NOT APPLY. See https://www.schwab.com/schwabsafe/security-guarantee.
Some Risks of Tax Preparation Software Provider. Once your authorized Tax Preparation Software Provider has accessed your Account Information, we cannot retrieve it for you, and we are no longer responsible for how the Account Information is secured or used (including whether it is shared with other parties, or used in an unauthorized manner or for an improper purpose).
Schwab cannot guarantee that the Account Information as may be accessed, displayed, or used by the Tax Preparation Software Provider is current or otherwise accurate.
General information on data aggregation-related services can be found at www.sifma.org.