The IRS has updated Form W-9. Form W-9 is used by filers to request correct TIN information in order to file information reports with the IRS. There are number of changes from the previous revision:
Form W-9 Changes
- Box 3 Note has changed
- “Check the appropriate box in the line above for the tax classification of the single-member owner. Do not check LLC if the LLC is classified as a single-member LLC that is disregarded from the owner unless the owner of the LLC is another LLC that is not disregarded from the owner for U.S. federal tax purposes. Otherwise, a single member LLC that is disregarded from the owner should check the appropriate box for the tax classification of its owner”
- New Specific Instructions for Line 1
- “If you are providing Form W-9 to an FFI to document a joint account, each holder of the account that is a U.S. person must provide a Form W-9.”
- New reference box added to Line 3 to assist filers on which box to check for U.S. federal tax classification
- New instructions for Line 5
- “If this address differs from the one the requester already has on file, write NEW at the top. If a new address is provided, there is still a chance the old address will be used until the payor changes your address in their records.”
- Updated “What Name and Number to Give the Requester” table
- Added the following:
- “Two or more individuals (joint account) other than an account maintained by an FFI”
- “Two or more U.S. persons (joint account maintained by an FFI)”
- Added the following:
To view the updated Form W-9, please click here.
