In the last step of application for Citi E-Saving account, I was asked to check a Box for "Tax Verification", about being not subject to backup withholding.

Did Anyone have this expericence or idea?

My understanding is that if we check the box, we needn't to pay tax for our interest income, is that right?

Usually, do people report such small income when fill tax return form? If check the box, is there any problem or bad result in the future (My status is F1< 5years)?

Thanks very much!