How Do I Get a W9 for Myself? Steps and Submission Explained
Learn how to obtain, complete, and submit a W9 form for yourself, ensuring accurate record-keeping and compliance with tax requirements.
Understanding how to obtain and complete a W-9 form is essential for freelancers, independent contractors, and others receiving income outside traditional employment. This form allows clients or businesses to collect taxpayer identification information necessary for reporting payments.
Locating the Official Form
Finding the official W-9 form is simple but ensuring you access the latest version is critical for IRS compliance. The Internal Revenue Service (IRS) provides the form on its official website, IRS.gov. Navigate to the “Forms & Instructions” section to download the most current version. Confirm the revision date in the top left corner to avoid compliance issues. The IRS website also includes instructions for completing the form, which can be helpful if you’re unfamiliar with tax documents.
Necessary Identification Details
Accurate identification is crucial when completing a W-9. Enter your legal name exactly as it appears on your tax return to avoid complications. If you operate under a business name, include it in the appropriate section to match business registration records. The form requires your taxpayer identification number (TIN), which is either your Social Security Number (SSN) or Employer Identification Number (EIN). Individuals generally use their SSN, while businesses provide an EIN. Ensure the number aligns with IRS records to prevent penalties or payment withholding. If the TIN is incorrect or missing, the IRS imposes backup withholding at a rate of 24%.
Steps to Complete
Completing the W-9 form demands attention to detail. Begin by entering your name and, if applicable, your business name. Sole proprietors should use their personal name, even if they have a separate business name. In the taxpayer identification number section, select either an SSN or EIN based on your filing status. Accuracy here is essential, as errors can result in backup withholding. Finally, sign the certification section to confirm the information is accurate, verify your status as a U.S. person, and affirm you are not subject to backup withholding unless notified by the IRS.
Methods of Submission
Once the W-9 form is complete, choose a secure method to submit it to the requester. This form is typically sent directly to the business or client that requested it, not the IRS. Businesses often accept W-9 forms via secure email or encrypted online platforms due to the sensitive nature of the data. If a physical copy is requested, use certified mail or a reliable courier service to ensure delivery. For businesses managing multiple W-9 forms, a tracking system can help maintain organization and reduce the risk of misplacement.
Keeping Records
Keeping a record of completed W-9 forms is important for both individuals and businesses. Freelancers and independent contractors should retain a copy of every W-9 submitted as a reference for resolving discrepancies or addressing IRS inquiries, especially during tax season. For businesses, securely storing W-9 forms ensures accurate issuance of Form 1099-NEC or 1099-MISC. Failure to issue these forms properly can result in penalties. Digital storage solutions, such as encrypted cloud services, offer secure and organized record-keeping while minimizing physical clutter.