What does FATCA require PayPal to report?
If PayPal determines that an account is reportable under FATCA (based on its analysis of account holder information), PayPal must either report information to the local tax authority, the account or to the IRS if the applicable account balance has reached a certain threshold. The reportable information generally consists of customer information (e.g. name, address, and tax identification number (“TIN”)) and account balance information. FATCA requires reporting on an annual basis in most jurisdictions.
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What FATCA documentation does PayPal collect and how do I provide it?The information that must be collected may include, but is not limited to, the account holder’s address and US TIN (if a US person) or other TIN (Tax information number). A business entity can be required to provide: Its country of incorporation, Its business type or classification 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-US accounts. FATCA requires some of PayPal's non-US subsidiaries to collect information from their account holders What version of PHP is required to use the PayPal SDK for PHP?PHP Requirements are as follows: PHP 5.3 and above. cURL extension with support for OpenSSL. PHPUnit 3.5 for running test suite (optional). Composer. For more information regarding the PayPal SDK for PHP, go to GitHub.What happens if I don't provide the FATCA information PayPal requests?If you are a new account holder, you will be required to complete the certification requested by PayPal to comply with FATCA within 90 days of opening your account. If you don't complete it within 90 days, you will no longer be able to send money from or What is spoofing and how do I report it?Spoofing or phishing is a type of fraud where an attempt is made to steal your personal details. An attempt is made to steal sensitive personal information, like your passwords and credit card or bank account numbers. This type of fraud is often done through a fraudulent email Who is impacted by FATCA?FATCA impacts holders of accounts that are outside the United States. It requires PayPal to collect tax documents or certifications from account holders stating whether or not they are U.S. persons. This includes, but is not limited to, business entities, and some individuals that open accounts outside the What is PayPal and how does it work?PayPal provides an easy and quick way to send and request money online. You can transfer money (abroad) to family, friends, online shops, and auction sites like eBay. Online payments All you need to send money to family or friends is the email address of the recipient. By What reporting options are available for PayPal for Marketplaces? 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. PayPal for Marketplaces provides three reports to help manage day-to-day What is the XML Reporting API?Reporting overview The Reporting API is an API that you can use to automate your report queries. It enables you to programmatically query the reporting database in XML. PayPal Manager is also a client of the Reporting API. Everything that Manager can do with reports is available to 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 have: Provided all requested information, How do I report unauthorised use of my PayPal account?If you notice a transaction that you didn't authorise, report it right away: Go to your Resolution Center. (This link may ask you to log in) Click Report a Problem. Use the filters to find the transaction or select it if it appears right away. Click Continue. Click I What is PayPal Invoicing and how does it work?PayPal Invoicing makes it simple to send professional, customized invoices. PayPal emails your customer a link to the invoice or you can supply a link in your own email. Your customer then views invoice details and securely pays with a credit card, debit card, PayPal, or PayPal Credit. Why are my PayPal reports missing transactions, or why don't they reconcile?Issue Data is missing from your PayPal reports. Cause System issues at PayPal can compromise the completeness of your report data. Solution If your PayPal reports are missing transactions or don't reconcile, visit PayPal Status to check for known system or reporting issues. If there are no known reporting What is a U.S. person for 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 organized in the U.S. or under the laws What types of protection does PayPal offer its buyers?PayPal Purchase Protection offers full protection to buyers using our services. If you don't receive your item or service or if it doesn't match its description at all, you're covered for the full amount of the transaction including return shipping*. A few guidelines : you must have paid What currencies does PayPal for Marketplaces support?PayPal for Marketplaces enables you to accept payments in currencies across the globe, including: Canadian Dollars Euros British Pounds U.S. Dollars Japanese Yen Australian Dollars New Zealand Dollars Swiss Francs Hong Kong Dollars Singapore Dollars Swedish Kronor Danish Kroner Polish Zlotys Norwegian Kroner Hungarian Forints Czech Koruny Israeli What can I do if I don't have root access and want to use the PayPal PHP SDK on my host?If you want to use the PayPal PHP SDK on your host but don't have root access, you can use one of two alternatives for installing Pear (if your host can't do this for you). See the pear.php.net site for information on installing a local PEAR copy on a What are the basic parameters required to process an authorization in Payflow Pro?Here's a list of names and descriptions of the parameters required to process an authorization on your Payflow Pro account: ACCT - The credit or debit card number. AMT - The transaction amount. EXPDATE - The expiration date of the credit card HOSTADDRESS - The Payflow Gateway server What are the minimum required fields I have to use in the PHP Web Console to make a Direct Payment API call?These are the minimum required fields: Provide a MerchantSessionID. On the Card Owner page, check the box for an address. On the Card Owner page, specify the Payer Country (United States) and Payer (must be a properly formatted email address). On the Address page, pass the Postal Code,
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