Update: Citi is refunding the annual fee and waiving the minimum spend requirement for those affected.
Many applicants of the Citi Strata Elite have had their accounts locked and a request for a 4506-C (Request for Transcript of Tax Return) has been sent in the mail. Citi is stating that after the 4506-C is provided that it will take up to 30 days to process.
It’s unclear why Citi is requesting this form. Some reps are stating that this is because this information was missed during the application, where others are incorrectly stating the IRS is requiring it. It seems that people that used the 100,000 point link and others that didn’t use that link have both had their accounts frozen and there is a reddit thread collecting datapoints.
