Many people date documents with two digits for the year (1/3/20 versus 1/3/2020). During this year, this creates the potential for the date to be manipulated, or specifically, backdated. In this example, 1/3/20 could become 1/3/2019 by simply adding the “19”. This could change the effective date of the document.
Banking/financial institutions and the legal community are strongly suggesting that everyone use the full four digits for “2020” on any enforceable documents and contracts.