"FATCA" is the Foreign Account Tax Compliance Act, which is a United States law designed to combat tax evasion by U.S. persons (individuals or entities) that fail to report income related to non-U.S. accounts. FATCA requires some of PayPal's non-US subsidiaries to collect information from their account holders to determine whether accounts are held by U.S. persons (as defined by FATCA).
What is FATCA?
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What is FATCA?"FATCA" is the Foreign Account Tax Compliance Act, which is a United States law designed to combat tax evasion by U.S. persons (individuals or entities) that fail to report income related to non-U.S. accounts. FATCA requires some of PayPal's non-US subsidiaries to collect information from their account holders What does FATCA require PayPal to report?If we determine that an account is reportable under FATCA (based on its analysis of account holder information), we must either report information to the local tax authority of the account, or to the IRS if the applicable account balance has reached a certain threshold. The reportable information What is a U.S. person for FATCA and 1099K tax reporting purposes?A U.S. person generally includes the following: A U.S. citizen or resident individual, including U.S. citizens living outside the U.S. or U.S. citizens and residents operating a business outside the U.S. (This includes green card holders.) A corporation or partnership organised in the U.S. or under the laws What FATCA documentation does PayPal collect and how do I provide it?According to FATCA, the information that we must collect may include, but isn't limited to, the account holder’s address and U.S. TIN (if a U.S. person) or other TIN. A business entity can be required to provide: Its country of incorporation. Its business type or classification under FATCA. What should I do if my account is restricted because I didn't provide the requested FATCA information?Even if your account is restricted, you'll be able to log in and access the FATCA information. From your account, you can start the certification process by answering a few questions or providing the applicable forms. The certification process is complete when you've: Provided all requested information, Reviewed What happens if I don't provide the FATCA information PayPal requests?If you're a new account holder, you'll be required to complete the certification we requested to comply with FATCA within 90 days of opening your account. If the certification isn't completed within 90 days, you'll no longer be able to send funds from, or receive funds into your account. If Who is impacted by FATCA?FATCA impacts holders of accounts that are outside the United States, and it requires us to collect tax documents or certifications from account holders stating whether or not they're U.S. persons.This includes, but isn't limited to, business entities and some individuals that open accounts outside the United States. What is an eCheque?An eCheque is a payment that you make directly from your bank account. 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Instead of entering your What are XML and PayPal's XMLPay?About XML XML (eXtensible Markup Language) is derived from Standardized General Markup Language (SGML) and HyperText Markup Language (HTML). In a sense, XML is a streamlined version of SGML, but its main advantage is that it lets you meaningfully annotate text. XML maintains both SGML’s strength and HTML’s What is Proof of Shipping?Proof of shipment is documentation that clearly shows you have shipped the item to the buyer’s address shown on the PayPal Transaction Details page. This documentation must include: The delivery address of the buyer (as shown on the PayPal transaction details page) The date the item was sent. What is a loss account?Important: PayPal for Marketplaces is a limited-release solution at this time. It is available to select partners for approved use cases. For more information, reach out to your PayPal account manager or contact a PayPal Partner Expert. When merchants are onboarded via PayPal for Marketplaces to a Managed What is Payment Review?Payment Review is an early warning system designed to help protect sellers from fraudulent payments. It's automatic and you don't have to sign up for it. If we spot a payment that could be high-risk, we'll send you an email letting you know that your payment is Pending What is my PayPal username?Your PayPal username is the email address you used to register for your PayPal account. If you use more than one email address and don't remember the specific one you used, click Problem with login above the Log In button on the PayPal homepage (www.paypal.com.au) and follow the
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