How To Obtain A W-9 Form

How To Obtain A W-9 FormA W9 form is a way for you to provide a person or bank with taxpayer Identification Number (TIN). This allows the organization to report certain information for example, income paid, IRA contributions, and your capital gains earnings with the IRS. Most of the time, it is likely that your TIN could be the Social Security Number. But it could also be your Individual Taxpayer Identification Number (ITIN).

Downloadable W9 Tax Form How To Fill Out A W9 Form Line  How To Obtain A W-9 Form

Do I Need To Complete A How To Obtain A W-9 Form ?

You will need to supply information this tax form if you are asked to by an individual or a financial institution that has specific information to report to the internal revenue service. You may be asked to write in a W9 form by a financial institution based in the US or by a foreign institution.

FACTA requests foreign institutions to report certain types of information about US clients to the internal revenue service. This may be necessary whenever you work for a foreign institution or in the case that you have an account with a foreign bank.

Who Can Request A W9 Form?

A firm in the US that is making payments to you can request that you finalize a How To Obtain A W-9 Form. This might be your employer, your real estate broker, or another individual or institution that has a financial relationship with you.

How To Obtain A W-9 Form can also be requested by financial institutions both in and outside the US. This form is specifically designed for US individuals. The form for individuals that are not US individuals is W8-BEN, while the form for entities is W8-BEN-E. You should request the correct one in case that you have been asked to finalize the wrong form. Whenever you have been asked to complete a W9 form by a foreign financial institution, you should check that you meet withholding thresholds.

What Happens In case I Do Not Complete How To Obtain A W-9 Form?

If you are asked to finalize a How To Obtain A W-9 Form and fail to do so, you may be subject to backup withholding. Firms and financial institutions in the United States are holding agents. That is why it’s important to carry out, sign, and return your form in a timely manner. They could choose to close your account in case that you do not return a form to a foreign financial institution.

After you have provided the carried out W9 form to the entity or individual that requested it, you will be given a copy of the form that they sent to the internal revenue service. This might be Form 1098 or 1099.How To Obtain A W-9 Form