Fillable Form W9 (2024)

What is Form W9?

The Form W-9 is issued by the Internal Revenue Service (IRS) and is used to request a taxpayer’s identification number (TIN) or individual taxpayer identification number (ITIN) and certification. Businesses and other entities use this form to gather information from independent contractors, freelancers, or any individuals receiving payments that require IRS reporting for federal tax purposes.

The information collected on Form W-9 is crucial for accurate tax reporting and compliance with IRS regulations. By providing your correct taxpayer identification number (TIN), you enable the reporting of reportable payments to the IRS, aid in the proper tax classification of entities, and facilitate the withholding of federal income tax when necessary. It is essential for various transactions, such as real estate transactions and dividend income, where the IRS requires accurate reporting of payments.

Form W-9 is also used to identify exempt payees, such as tax-exempt organizations and government agencies, as well as individuals exempt from backup withholding. Certain entities, such as foreign financial institutions, foreign entities, and nonresident aliens, may have specific requirements for tax reporting purposes.

To ensure the integrity of the information provided, the IRS requires that the form be signed under penalties of perjury. The accuracy of the information you provide is crucial for proper tax reporting, and failure to provide a correct TIN may result in underreporting by the notified payee.

In some cases, backup withholding applies. Backup withholding is a mechanism used by payers to ensure that taxes are collected on certain types of payments. If backup withholding applies to your situation, the payer will withhold taxes at a specified rate and remit them to the IRS.

For detailed instructions and more information, you can visit the IRS website, where you will find the most up-to-date Form W-9 and guidelines for its completion. Remember, accuracy and compliance are essential when filling out this form, as it helps maintain accurate IRS records and ensures smooth processing of federal tax returns.

How do I fill out Form W9?

A fillable copy of Form W9 can be accessed through this link.

Name

Enter the name of the entity or individual this form is being filed for here.

Business Name/Disregarded Entity Name

Enter the business or disregarded entity name if it is different from the name above.

Federal Tax Classification

Check only one of the seven boxes from the following that applies.

• Individual/sole proprietor
• C corporation
• S corporation
• Partnership
• Trust/estate
• LLC
  • Enter the tax classification in the space provided
• Other (see instructions and specify in the space provided)

Partnership

If you marked Partnership or Trust/estate in the line above, or marked LLC and entered P as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries.

Exemptions

Enter the relevant codes for the following, if there are any that can be applied.

• Exempt payee code
• Exemption from Foreign Account Tax Compliance Act (FATCA) reporting code

Address

Enter you or your business’s address (number, street, and apartment or suite number).

City, State, and ZIP Code

Enter you or your business’s city, state, and ZIP code.

Requester’s Name and Address

Enter the requester’s name and address.

List Account Number(s)

List the relevant account numbers here, if necessary.

Part I - Taxpayer Identification Number (TIN)

Social Security Number OR Employer Identification Number

Read the instructions carefully, then enter your TIN in the relevant space.

Part II - Certification

Sign the form in the space provided, then enter the date that the form was signed.

Frequently Asked Questions (FAQs)

Why might a business request a W-9?

To accurately report payments made to contractors or vendors to the IRS.

Does the form expire?

No, but the information should be updated if it changes.

Can individuals use their Social Security Number (SSN) instead of an EIN?

Yes, individuals typically use their SSN if they don’t have an EIN.

What is the penalty for providing incorrect information?

Potential fines and penalties may be imposed by the IRS.

Is the W-9 mandatory for all contractors?

Yes, if the contractor is being paid for services that require IRS reporting.

What is backup withholding?

It is tax withheld from payments if the TIN is invalid or missing.

Can the W-9 be filled out electronically?

Yes, as long as it’s signed and stored securely.

Who signs the form?

The person whose TIN is listed signs to certify its accuracy.

What is the purpose of Part II on the W-9?

It includes the certification to confirm the provided information is accurate.

What is the difference between an SSN and an EIN?

An SSN is for individuals; an EIN is for businesses or entities.

Do non-U.S. citizens fill out Form W-9?

Only if they have a valid TIN and meet other requirements; otherwise, other IRS forms may apply.

Is there a deadline to provide a W-9?

There’s no specific IRS deadline, but timely submission is needed to process payments.

What happens if a contractor doesn’t provide a W-9?

The paying company may withhold 24% for backup withholding.

Can you refuse to fill out a W-9?

You can, but the business may decline to pay or enforce backup withholding.

Is the form legally binding?

Yes, providing false information can result in penalties.

How often should you update your W-9?

Whenever your personal or business information changes, such as address or TIN.

Is a W-9 required for one-time payments?

Yes, if the payment needs to be reported to the IRS.