For individuals:
W-9, W-8BEN, W-8ECI
For companies:
W-9, W-8BEN-E, W-8ECI
FEATURES
W form collection and archive according to IRS requirements
Detailed reports of the tax data collected and in-progress forms
Data collected from W- forms is used for filing 1099 tax forms to IRS
Payee cooperation is tracked
Payments held until tax forms are submitted
Forms archived for IRS audit purposes
Guidance for payees to help them choose and complete the relevant form
Helpful tax term glossary and in product guidance for payees
Automated event-triggered invitations to payees to complete tax forms
Configurable thresholds to hold payments when waiting for a tax form to be submitted
Mobile application for payees to submit tax forms
Options to customize and brand the email communication to your payees
BENEFITS
Eliminates the burden of collecting documents from payees
Self-service form completion reduces errors and increases payee cooperation
Automated process with APIs and IPCNs
Process Flow
After registering with Payoneer, payees receive an email message from Payoneer containing a unique personalized link that guides them through the process of selecting and completing the appropriate US tax forms. Payoneer’s platform tracks the form completion status of each payee, and will hold payments pending submission of appropriate tax forms by the payee.
For more detailed information on tax forms and the process flow, click here.
