§ 2074. Requirements to Establish an Advance Deposit Wagering Account with a California Entity.
4 CA ADC § 2074Barclays Official California Code of Regulations
4 CCR § 2074
§ 2074. Requirements to Establish an Advance Deposit Wagering Account with a California Entity.
(d) The entity shall employ electronic verification with respect to each Account Holder's name, principal residence address, date of birth and Social Security number at the time of Account establishment by a Board-approved national, independent, individual reference company or another independent technology approved by the Board which meets or exceeds the reliability, security, accuracy, privacy and timeliness provided by individual reference service companies.
(i) Each entity shall, at all times, comply with Internal Revenue Service (IRS) requirements for reporting and withholding proceeds from Advance Deposit Wagers by Account Holders and shall send to Account Holders subject to IRS reporting or withholding a Form W2-G summarizing the information for tax purposes following a winning wager being deposited into an Account. Upon written request, the entity shall provide Account Holders with summarized tax information on Advance Deposit Wagering activities.
Credits
Note: Authority cited: Sections 19440 and 19590, Business and Professions Code. Reference: Section 19604, Business and Professions Code.
History
1. New section filed 1-3-2002; operative 1-3-2002 pursuant to Government Code section 11343.4 (Register 2002, No. 1).
This database is current through 4/12/24 Register 2024, No. 15.
Cal. Admin. Code tit. 4, § 2074, 4 CA ADC § 2074
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