The W-9 contains sensitive information that should be kept private and secure. Don't send your completed W-9 as an unsecured or unencrypted email attachment. Instead use secure methods of transmission, such as hand delivery, mail, or encrypted file attachments to an email to the person who requested it.20 Feb 2021
Why does someone need my W-9?
US financial institutions ask you to complete Form W9 in order to obtain your personal identifying information (name, address, tax ID) to report income paid to you to the IRS, such as interest, dividends, capital gains, cancellation of debt, royalties, rents, etc. or income paid by you to the institution, such as
Are W-9 forms confidential?
Because a W-9 contains confidential information, there are two cautions to keep in mind. First, make sure you actually are doing business with the company requesting the information. And second, be sure to transmit the W-9 in a secure way. This is particularly important if you use your social security number.7 Feb 2021
What information does a W9 provide?
The W-9 is an official form furnished by the IRS for employers or other entities to verify the name, address, and tax identification number of an individual receiving income. The information taken from a W-9 form is often used to generate a 1099 tax form, which is required for income tax filing purposes.
What can someone do with your W9?
It lets you send your Tax Identification number (TIN)—which is your Employer Identification Number (EIN) or your Social Security number (SSN)—to another person, bank, or other financial institution.8 Dec 2021
Is it safe to send someone a W9?
If you're a contractor and you receive a Form W-9 from an individual or business who is not a client, don't fill it out. Sending your Social Security number (SSN) and other personal information to a stranger could be dangerous. Scammers will sometimes send W-9s to collect the SSNs of unsuspecting individuals.8 Dec 2021
Why would a vendor send me a W9?
Why Do You Need to Get W9 Forms from Vendors? Trades or businesses need to get W9 Forms from U.S. vendors to prepare information returns like Form 1099-NEC and 1099-MISC required by the IRS to report calendar year amounts paid to them of $600 or more or amounts of backup withholding of federal income taxes.
Can I send a w9 via email?
A W9 contains sensitive information—name, tax identification number, address that could be used to steal your identity, so you do not want to attach it to an email. Email is typically NOT secure, and hackers could potentially get it, especially if the attached document sits in your client's inbox for years to come.1 May 2020
How do I send a w9 form?
▶ Go to www.irs.gov/FormW9 for instructions and the latest information. Give Form to the requester. Do not send to the IRS. Print or type.
Why is my client asking for a W9?
Why is my customer asking for a W-9 form? Companies that make payments in the normal course of their business are required to report certain payments to both the IRS and to the person or entity paid at the end of each calendar year. This is typically done using Form 1099.