As a former employee of M&T Bank, ensuring you have all the necessary documents for tax season is crucial, especially your W-2 form. This form is essential for filing your tax returns and keeping your financial records in order. In this guide, we’ll explore what a W-2 form is, why it’s important, and how you can obtain it from M&T Bank as a former employee.
Key Takeaways:
- W-2 forms are vital for filing tax returns; they detail your earnings and tax withholdings for the year.
- Former employees need W-2 forms to ensure accurate tax filings and to avoid any legal or financial complications.
- M&T Bank provides W-2 forms through various methods, including online portals and direct mail.
- Accessing your W-2 from M&T Bank might require contacting their HR department if you no longer have access to company portals.
- Early preparation can make the process smoother and ensure you receive your W-2 in time for tax season.
What is a W-2 Form?
The W-2 form, also known as the Wage and Tax Statement, is a document issued by your employer that details your annual wages and the amount of taxes withheld from your paycheck. This form is critical for both the IRS and employees to ensure that the correct amount of tax has been paid over the year.
Benefits of a W-2 Form
- Accurate Tax Filing: The W-2 form provides all the necessary information for filing your tax returns, including wages, tips, and other compensation, as well as the taxes withheld.
- Proof of Income: It serves as a record of your earnings, which can be essential for financial planning, loan applications, and verifying employment history.
- Legal Requirement: Employers are required by law to provide a W-2 form to each employee who earns at least $600 in a year.
Why Former Employees Need a W-2 Form?
As a former employee, receiving your W-2 form is crucial for several reasons. First, it ensures that you have accurate records of your earnings for the year, which is essential for filing your taxes. Additionally, without a W-2 form, you may be unable to claim certain tax deductions or credits, potentially leading to a higher tax bill.
Moreover, failing to file your tax returns without a W-2 form can result in penalties from the IRS, including fines and interest on any unpaid taxes. Therefore, it is in your best interest to secure your W-2 form from M&T Bank as soon as possible.
A Brief Overview of M&T Bank
M&T Bank is a regional financial services institution headquartered in Buffalo, New York. With a history dating back to 1856, the bank provides a wide range of financial products and services, including personal and business banking, mortgages, and investment services. M&T Bank has a strong presence in the Northeastern United States, serving millions of customers through its extensive network of branches and ATMs.
How to Get W2 from M&T Bank as a Former Employee?
Now that you understand the importance of the W-2 form and its relevance to former employees, let’s delve into the specific steps you need to take to obtain your W-2 from M&T Bank.
1. Check Your Workday Account
If you still have access to your Workday account, this is likely the easiest way to obtain your W-2 form. Workday is a popular HR and payroll management system used by many companies, including M&T Bank. Here’s how to check:
- Log into Workday: Use your credentials to log in to your Workday account.
- Navigate to the Payroll Section: Once logged in, find the payroll or tax documents section.
- Download Your W-2: If available, you should be able to download and print your W-2 form directly from the platform.
If you no longer have access to your Workday account, you will need to contact M&T Bank’s HR department for further assistance.
2. Contact M&T Bank’s HR Department
If you can’t access your W-2 form through Workday or any other online portal, reaching out to M&T Bank’s HR department is the next best step. Here’s what you need to do:
- Gather Necessary Information: Be prepared to provide your full name, Social Security number, and dates of employment when contacting HR.
- Reach Out Directly: You can contact the HR department via phone or email. It’s recommended to follow up if you do not receive a response within a few days.
The HR department should be able to guide you through the process of obtaining your W-2 form, whether that means sending it to you electronically or through the mail.
3. Wait for the Mail
M&T Bank typically sends out W-2 forms by mail to former employees by the IRS deadline, which is usually January 31st. Here’s how to proceed:
- Check Your Mailbox Regularly: Ensure that your current mailing address is up-to-date with M&T Bank to avoid any delays in receiving your W-2 form.
- Allow Time for Delivery: If you have not received your W-2 form by mid-February, it’s advisable to contact HR to confirm whether it has been sent.
Additional Tips for Obtaining Your W-2 Form
- Be Persistent: If you encounter difficulties in obtaining your W-2 form, do not hesitate to follow up with M&T Bank’s HR department. Persistence can pay off, especially when dealing with important tax documents.
- Consider Online Options: Some companies offer online W-2 access portals. It’s worth checking with M&T Bank to see if this option is available to you.
- Start Early: Don’t wait until the last minute to request your W-2 form. Starting the process early can help ensure you receive the form in time to meet tax filing deadlines.
Also Read…
FAQs
1. What should I do if I no longer have access to my Workday account?
If you no longer have access to your Workday account, contact M&T Bank’s HR department. They can assist you in regaining access or provide alternative methods to obtain your W-2 form.
2. When should I expect to receive my W-2 form in the mail?
M&T Bank typically mails out W-2 forms by the IRS deadline, which is usually January 31st. If you haven’t received it by mid-February, contact HR for assistance.
3. Can I request a digital copy of my W-2 form?
Yes, in many cases, M&T Bank may be able to provide a digital copy of your W-2 form through Workday or another secure online portal. Contact HR for more details.
4. What if my W-2 form has incorrect information?
If you notice any errors on your W-2 form, contact M&T Bank’s HR department immediately to have the issue corrected.
5. How can I update my mailing address with M&T Bank?
To update your mailing address, contact the HR department directly. Providing the correct address is essential to ensure you receive your W-2 form promptly.
6. What happens if I lost my W-2 form?
If you lose your W-2 form, you can request a duplicate from M&T Bank’s HR department. They may provide it electronically or by mail.
7. Do I need a W-2 form for unemployment benefits?
Yes, you may need your W-2 form when applying for unemployment benefits as it verifies your income from the previous year.
Obtaining your W-2 form from M&T Bank as a former employee is a straightforward process, provided you know the steps to take. Whether accessing it through Workday, contacting HR, or waiting for it in the mail, ensuring you have this critical document will help you avoid complications during tax season. Remember to start early, follow up as needed, and keep your information up-to-date with M&T Bank to ensure a smooth process.