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Download W-9 Form 2023: A Complete Guide

If you are an independent contractor, freelancer, or vendor who provides services to a company or an individual, you may need to fill out and submit a W-9 form to report your income to the IRS. In this article, we will explain what a W-9 form is, why you need it, how to fill it out online, how to submit it to the requester, and how to store and update it. By following this guide, you will be able to download and complete a W-9 form for 2023 with ease and confidence.

What is a W-9 form and why do you need it?

A W-9 form is an IRS tax form that requests your name, address, and taxpayer identification number (TIN). It is also known as Request for Taxpayer Identification Number and Certification. The purpose of a W-9 form is to provide your correct TIN to the person or entity who pays you for your services, so that they can report your income to the IRS and issue you a 1099 form at the end of the year. A 1099 form shows how much you earned from each payer and how much tax was withheld, if any. You need to use this information to file your tax return and pay your taxes.

The purpose of a W-9 form

A W-9 form is not submitted to the IRS directly, but rather used by the payer for informational and recording purposes. The payer needs your W-9 form to:

  • Verify your identity and TIN
  • Determine if you are subject to backup withholding or FATCA reporting
  • Prepare and file an information return (such as Form 1099-MISC) with the IRS
  • Provide you with a copy of the information return for your records

Backup withholding is a process where the payer deducts a certain percentage of your payment and sends it to the IRS as tax payment on your behalf. This may happen if you do not provide a valid TIN, fail to report all your income, or have underpaid your taxes in the past. The backup withholding rate for 2023 is 24%.

FATCA stands for Foreign Account Tax Compliance Act, which is a law that requires U.S. taxpayers to report their foreign financial assets and income to the IRS. If you are a U.S. citizen or resident alien with foreign accounts or assets, or if you are a foreign person or entity receiving payments from U.S. sources, you may need to indicate your FATCA status on your W-9 form.

The difference between a W-9 and a W-4 form

A common question that people have is what is the difference between a W-9 and a W-4 form. The main difference is that a W-9 form is for independent contractors and other non-employees who receive payments from a company or an individual, while a W-4 form is for employees who authorize their employer to withhold taxes from their paycheck. A W-9 form does not determine how much tax will be withheld from your payment, as you are responsible for paying your own taxes as an independent contractor. A W-4 form, on the other hand, allows you to adjust your withholding amount based on your personal and financial situation, such as your filing status, dependents, deductions, and credits.

Who should fill out a W-9 form?

You should fill out a W-9 form if you are:

  • A U.S. citizen or resident alien who provides services to a company or an individual as an independent contractor, freelancer, consultant, or vendor
  • A U.S. citizen or resident alien who receives interest, dividends, rents, royalties, or other income from a company or an individual
  • A U.S. citizen or resident alien who is a beneficiary, owner, or grantor of a trust or estate
  • A foreign person or entity who is claiming an exemption from FATCA reporting or withholding under a tax treaty or other provision

You do not need to fill out a W-9 form if you are:

  • An employee who works for a company and receives a regular paycheck
  • A nonresident alien who provides services to a company or an individual outside the U.S.
  • A corporation, partnership, limited liability company, or other entity that is not disregarded for tax purposes
  • A tax-exempt organization, such as a charity, church, or school

How to fill out a W-9 form online

Filling out a W-9 form online is easy and convenient. You can download the form from the IRS website or use a third-party service that offers online W-9 forms. The form consists of two parts: Part I asks for your TIN and Part II asks for your signature and date. Here are the steps to fill out a W-9 form online:

Step 1: Get the form from the IRS website or a third-party service

You can get the latest version of the W-9 form from the IRS website at https://www.irs.gov/pub/irs-pdf/fw9.pdf. You can either print the form and fill it out by hand, or save it to your computer and fill it out electronically using a PDF reader software. Alternatively, you can use a third-party service that offers online W-9 forms, such as https://www.w9manager.com/ or https://www.hellosign.com/lp/w9-forms-online/. These services allow you to fill out and sign the form online using your browser or mobile device. They may also provide additional features such as encryption, verification, tracking, and storage of your W-9 forms.

Step 2: Complete the basic information in section one

In section one of the W-9 form, you need to provide the following information:

  • Your name as shown on your tax return
  • Your business name if different from your name (optional)
  • Your business entity type (such as sole proprietorship, partnership, corporation, etc.)
  • Your address (including street, city, state, and ZIP code)
  • Your phone number and email address (optional)
  • Your exemption codes if applicable (such as 501(c)(3) for tax-exempt organizations)
  • Your FATCA status if applicable (such as active NFFE for foreign entities)

Step 3: Fill in your TIN in Part I

In Part I of the W-9 form, you need to provide your taxpayer identification number (TIN). Your TIN is either your social security number (SSN) or your employer identification number (EIN), depending on your entity type. If you are an individual or a sole proprietorship, you should use your SSN. If you are a partnership, corporation, LLC, trust, estate, or other entity type, you should use your EIN. You can apply for an EIN online at https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online. You should enter your TIN in the appropriate box using the format shown on the form.

Step 4: Sign and date the form in Part II

In Part II of the W-9 form, you need to sign and date the form to certify that:

  • The TIN you provided is correct
  • You are not subject to backup withholding or FATCA reporting, or you have provided the correct codes to indicate otherwise
  • You are a U.S. citizen or resident alien, or you have provided the correct documentation to prove your foreign status
  • You agree to notify the requester of any changes in your information within 30 days

You can sign the form electronically using a digital signature service, such as https://www.docusign.com/ or https://acrobat.adobe.com/us/en/sign.html. You can also print the form and sign it by hand. You should enter the date of your signature in the format shown on the form.

How to submit a W-9 form to the requester

After you fill out and sign your W-9 form, you need to submit it to the person or entity who requested it from you. You can submit your W-9 form in one of the following ways:

Option 1: Send the form electronically via email or a secure portal

The easiest and fastest way to submit your W-9 form is to send it electronically via email or a secure portal. You can attach your W-9 form as a PDF file to your email and send it to the requester’s email address. You can also upload your W-9 form to a secure portal that the requester provides, such as https://www.dropbox.com/ or https://www.box.com/. This option is convenient and saves paper, but you should make sure that your W-9 form is encrypted and protected from unauthorized access.

Option 2: Print and mail the form to the requester’s address

Another way to submit your W-9 form is to print and mail it to the requester’s address. You can use regular mail or a courier service, such as https://www.fedex.com/ or https://www.ups.com/. This option is more secure and reliable than email, but it may take longer and cost more.

Option 3: Fax the form to the requester’s number

A third way to submit your W-9 form is to fax it to the requester’s number. You can use a fax machine or an online fax service, such as https://www.efax.com/ or https://faxzero.com/. This option is quick and easy, but it may not be very clear or legible.

How to store and update a W-9 form

Once you submit your W-9 form, you should keep a copy of it for your records. You should also update your W-9 form information whenever there is a change in your name, address, TIN, entity type, exemption status, or FATCA status. Here are some tips for storing and updating your W-9 form:

Tips for keeping your W-9 form safe and secure

Your W-9 form contains sensitive information that could be used for identity theft or fraud if it falls into the wrong hands. Therefore, you should take precautions to protect your W-9 form from unauthorized access or disclosure. Here are some tips for keeping your W-9 form safe and secure:

  • Store your W-9 form in a locked file cabinet or a password-protected computer or cloud storage service
  • Shred any paper copies of your W-9 form that you no longer need
  • Delete any electronic copies of your W-9 form that you no longer need
  • Use encryption software or services to encrypt your W-9 form before sending it electronically
  • Use antivirus software and firewalls to protect your computer from malware and hackers
  • Avoid opening suspicious emails or clicking on unknown links that could contain phishing scams or viruses
  • Report any lost, stolen, or compromised W-9 forms to the IRS and the requester immediately

When to update your W-9 form information

You should update your W-9 form information whenever there is a change in your name, address, TIN, entity type, exemption status, or FATCA status. For example, you should update your W-9 form if you:

  • Get married or divorced and change your name
  • Move to a new address
  • Change your business name or structure (such as from sole proprietorship to LLC)
  • Apply for a new SSN or EINObtain or lose an exemption from backup withholding or FATCA reporting

To update your W-9 form information, you should fill out a new W-9 form with the updated information and submit it to the requester as soon as possible. You should also notify the IRS of any changes in your name or address by filing Form 8822, Change of Address, or Form 8822-B, Change of Address or Responsible Party – Business. You can find these forms on the IRS website at https://www.irs.gov/forms-pubs/about-form-8822 and https://www.irs.gov/forms-pubs/about-form-8822-b.

Conclusion

A W-9 form is an important tax document that you may need to fill out and submit if you are an independent contractor, freelancer, vendor, or other non-employee who receives payments from a company or an individual. By following this guide, you will be able to download and complete a W-9 form for 2023 online with ease and confidence. You will also learn how to submit, store, and update your W-9 form information as needed. Remember to keep your W-9 form safe and secure, and to report your income and pay your taxes accurately and timely.

FAQs

Here are some frequently asked questions and answers about W-9 forms:

Q: How do I get a W-9 form?

A: You can get a W-9 form from the IRS website at https://www.irs.gov/pub/irs-pdf/fw9.pdf. You can also get a W-9 form from a third-party service that offers online W-9 forms, such as https://www.w9manager.com/ or https://www.hellosign.com/lp/w9-forms-online/.

Q: How do I know if I need to fill out a W-9 form?

A: You need to fill out a W-9 form if you are a U.S. citizen or resident alien who provides services to a company or an individual as an independent contractor, freelancer, consultant, or vendor; who receives interest, dividends, rents, royalties, or other income from a company or an individual; who is a beneficiary, owner, or grantor of a trust or estate; or who is a foreign person or entity who is claiming an exemption from FATCA reporting or withholding.

Q: How do I know what TIN to use on my W-9 form?

A: Your TIN is either your social security number (SSN) or your employer identification number (EIN), depending on your entity type. If you are an individual or a sole proprietorship, you should use your SSN. If you are a partnership, corporation, LLC, trust, estate, or other entity type, you should use your EIN. You can apply for an EIN online at https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online.

Q: How do I sign my W-9 form electronically?

A: You can sign your W-9 form electronically using a digital signature service, such as https://www.docusign.com/ or https://acrobat.adobe.com/us/en/sign.html. You can also print the form and sign it by hand.

Q: How often do I need to update my W-9 form information?

A: You need to update your W-9 form information whenever there is a change in your name, address, TIN, entity type, exemption status, or FATCA status. You should fill out a new W-9 form with the updated information and submit it to the requester as soon as possible. You should also notify the IRS of any changes in your name or address by filing Form 8822 or Form 8822-B.



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