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Chase account suspension: INK UR transfer to someone not co-owner or household member

Chase account suspension: INK UR transfer to someone not co-owner or household member

Old Aug 15, 16, 2:14 pm
  #1  
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Chase account suspension: INK UR transfer to someone not co-owner or household member

I transferred the Chase UR points to my partner and now I received a letter from Chase informing me, the Chase UR reward transfer is suspended until I provide the following info:

Form 1040 schedule C, E or F
Form 1065 or 1120s of the business tax returns or
Other official document showing ownership of the business, such as an operating agreement, a shareholder agreement or a partnership agreement.

If I don't provide any of the documents, all my accounts will be closed.

I don't have any legitimate business but I do have a rental property on my name. Please help.

Thanks.
ramamosn is offline  
Old Aug 15, 16, 2:17 pm
  #2  
 
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Originally Posted by ramamosn View Post
I transferred the Chase UR points to my partner and now I received a letter from Chase informing me, the Chase UR reward transfer is suspended until I provide the following info:

Form 1040 schedule C, E or F
Form 1065 or 1120s of the business tax returns or
Other official document showing ownership of the business, such as an operating agreement, a shareholder agreement or a partnership agreement.

If I don't provide any of the documents, all my accounts will be closed.

I don't have any legitimate business but I do have a rental property on my name. Please help.

Thanks.
You might be able to correct this by presenting either a DBA license to the bank, or changing the name of the account to reflect your real name instead of the business name.

Source: was told my recently opened business account would be frozen unless I changed the name to match my legal name, according to my banker a new rule for sole prop business accounts that went into effect August 1st.
invalyd is offline  
Old Aug 15, 16, 2:18 pm
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Assuming that you gave them honest information on the application, just send them the schedule they asked for.
farnorthtrader is offline  
Old Aug 15, 16, 2:20 pm
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Originally Posted by ramamosn View Post
I transferred the Chase UR points to my partner and now I received a letter from Chase informing me, the Chase UR reward transfer is suspended until I provide the following info:

Form 1040 schedule C, E or F
Form 1065 or 1120s of the business tax returns or
Other official document showing ownership of the business, such as an operating agreement, a shareholder agreement or a partnership agreement.

If I don't provide any of the documents, all my accounts will be closed.

I don't have any legitimate business but I do have a rental property on my name. Please help.

Thanks.
If you have rental property then you probably have a Schedule E.
safigan is offline  
Old Aug 15, 16, 2:21 pm
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Originally Posted by safigan View Post
If you have rental property then you probably have a Schedule E.
I haven't filed the schedule E yet. I rented out the property early this year.
ramamosn is offline  
Old Aug 15, 16, 3:53 pm
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Originally Posted by ramamosn View Post
I transferred the Chase UR points to my partner and now I received a letter from Chase informing me, the Chase UR reward transfer is suspended until I provide the following info:
Is that one transfer "suspended" or is your account locked.
flyer4512 is offline  
Old Aug 15, 16, 3:54 pm
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Originally Posted by ramamosn View Post
I haven't filed the schedule E yet. I rented out the property early this year.
When did you get the business card?
farnorthtrader is offline  
Old Aug 15, 16, 5:25 pm
  #8  
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Originally Posted by flyer4512 View Post
Is that one transfer "suspended" or is your account locked.
I added my new partner to my account and transferred the points to his airline account. The account is not locked out but i believe the transfer is "suspended" until I provide the required documents.
ramamosn is offline  
Old Aug 15, 16, 5:26 pm
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Originally Posted by farnorthtrader View Post
When did you get the business card?
I got the business card atleast couple of years back but i didn't have any real business sofar.
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Old Aug 15, 16, 5:30 pm
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Originally Posted by ramamosn View Post
I added my new partner to my account and transferred the points to his airline account. The account is not locked out but i believe the transfer is "suspended" until I provide the required documents.
Did you add your partner recently just before the transfer?
frudd38 is offline  
Old Aug 15, 16, 5:36 pm
  #11  
 
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Let your CPA handle it, he can show an estimate for your income, and a deprecation schedule.

Let him call the Chase Rep,
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Old Aug 15, 16, 5:40 pm
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Originally Posted by ramamosn View Post
I added my new partner to my account and transferred the points to his airline account. The account is not locked out but i believe the transfer is "suspended" until I provide the required documents.
If you can still transfer/use points I would get all your points out ASAP if you are not going to be able to supply that info
flyer4512 is offline  
Old Aug 15, 16, 5:40 pm
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Okay, so you got a business card for a business that did not exist and now you have added a partner to the non-existent business in a manner that might suggest to Chase that you have sold your points?
Good luck!
farnorthtrader is offline  
Old Aug 15, 16, 5:58 pm
  #14  
 
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Originally Posted by ramamosn View Post
Form 1040 schedule C, E or F
Form 1065 or 1120s of the business tax returns or
Other official document showing ownership of the business, such as an operating agreement, a shareholder agreement or a partnership agreement.
For clarity, are they asking you for all three or just one of them?
MDJennings is offline  
Old Aug 16, 16, 12:41 am
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Send in a notarized copy of the lease/rental agreement.

It should take care of the issue.
garykung is offline  

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