W-9 form: What information is included?

Definition

The W-9 form is an official document used in the United States for tax purposes. It is specifically used to request the taxpayer identification number (TIN) of a person or organization.

What is a W-9 form?

The primary purpose of the W-9 form is to collect the taxpayer identification number (TIN) of a person or organization who is required to report income to the Internal Revenue Service (IRS).

The W-9 form is typically completed by the party requesting the TIN, such as a business, financial institution, or government agency. This party may be required to report payments made to the individual or organization to the IRS, such as payments for services rendered, interest, dividends, rents, royalties, or other types of income.

The W-9 form requires the individual or organization to provide the following information:

Name: The legal name of the individual or organization.
Business Name (if different): If the individual or organization operates under a business name that differs from their legal name, it should be provided here.
Address: The mailing address of the individual or organization.
Taxpayer identification number (TIN): The TIN can be either a social security number (SSN) for individuals or an employer identification number (EIN) for organizations.
Certification: The individual or organization must certify, under penalties of perjury, that the TIN provided is correct and that they are not subject to backup withholding due to underreporting of interest or dividends.

If the individual or organization fails to provide a correct TIN or fails to certify that they are not subject to backup withholding, the requesting party may be required to withhold a percentage of certain payments and remit it to the IRS. This is known as backup withholding.

The information provided on the W-9 form is considered confidential and is protected by privacy laws. It is only used for tax reporting purposes and is not disclosed to third parties except as required by law.

Example of a W-9 form

W-9 Form

Request for taxpayer identification number and certification

Name: John Doe
Business name (if different from above): [Leave blank if not applicable]
Address: 123 Main Street, Anytown, USA
City, state, and ZIP code: Anytown, NY 12345
Taxpayer identification number (TIN):
- Social Security Number (SSN): _________________
- Employer Identification Number (EIN): _________________
Certification: Under penalties of perjury, I certify that:
- The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and
- I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding, or (c) the IRS has notified me that I am no longer subject to backup withholding.
- I am a U.S. citizen or other U.S. person.