"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 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 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 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 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 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 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 Preselling?If fundraisers accept payments independent of their reward based campaign for the future delivery of a product or service it is considered Preselling. When fundraisers engage in preselling, PayPal may hold the money to help ensure that buyers receive the product or service they paid for What is an eCheque?An eCheque is a payment that you make directly from your bank account. You can only send an eCheque if your bank account is the only payment method attached to your bank account, and you don't have a credit or debit card as a back-up payment method. If What is PayPal Buyer Protection?When you pay with PayPal on any website, PayPal Buyer Protection offers you comprehensive protection if your eligible transaction has a problem, such as if an item doesn’t arrive or is significantly not as described. If your transaction qualifies for PayPal Buyer Protection we'll reimburse you for the full purchase price What is PayPal.Me?What is PayPal.Me? PayPal.Me is a faster, easier way to get paid through PayPal. Just share your very own PayPal.Me link (paypal.me/YourName) with your friends and family, and they can send you money for lunch, chip in for a group gift or any other reason they need to pay What are micropayments?Micropayments are small payments for digital goods, under $12 in value. You can apply for a special micropayments pricing fee as outlined in the Fees and Charges statement. If approved, you’ll pay the lesser of the micropayments fee or the standard transaction fee. To sign up for the micropayments, please What are the mrb and pal parameters and what are they used for?mrb parameter The Merchant Referral Bonus (MRB) program is an old Channel Partner bonus program that was used to identify and reward merchants for referring other merchants who signed up with PayPal. <input type="hidden" name="mrb" value="XXXXXXXX"> pal parameter The pal parameter can be either the encrypted account number What is the Seller Protection Policy and what items aren’t eligible?PayPal Seller Protection is a form of protection that we provide for sellers with a PayPal account. It's available for eligible payments made through eBay and outside of eBay which involve buyers purchasing through PayPal accounts in any country. If your buyer files a reversal, claim or chargeback What is PayPal Here?PayPal Here is a mobile payment solution. It lets you simply and securely accept multiple forms of payment wherever your business takes you within Australia. PayPal Here helps you increase your customer base, and make more sales. To sign up for PayPal Here, go to the app store What are disputes and claims?What is a dispute? A buyer can file a dispute in the Resolution Centre within 180 days of purchase if the item ordered doesn’t arrive or is significantly different from the seller’s item description. The buyer will be able to communicate the issue with the seller on a 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 are holds and disbursements?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 they sign up for PayPal for Marketplaces, partners and merchants What is the "certpassword" used in winhttpcertcfg?The certpassword is the passphrase you created during pem to .p12 conversion. For Microsoft.NET 1.1 environments, you must convert pem-formatted API Certificates to .p12 format. The pem format is the format the Certificate is in when you download it from PayPal. Once you download the pem file, use What are the fees for PayPal accounts?The fees are the same for all PayPal account types. Opening an account: PayPal doesn't charge a fee to open a PayPal account. Receiving money – Purchase payments (Goods and Services): When you use PayPal to receive money for goods or services (such as from selling an item on eBay, Gumtree,
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