"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 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 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 What is a US 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 organized in the U.S. or under the laws What should I do if my account is restricted because I didn't provide the requested FATCA information?Even if your account is restricted youll 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, 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 dont complete it within 90 days, you will no longer be able to send funds from or 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 holders address and US TIN (if a US person) or other TIN. A business entity can be required to provide: Its country of incorporation, Its business type or classification under FATCA, A certification Who is impacted by FATCA?FATCA impacts holders of accounts that are outside the United States, and 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 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 What is an eCheck?An eCheck is a payment that you make directly from your bank account. Just like a regular check, it usually takes between 3 and 5 business days for an eCheck to clear and the money to appear in the recipients PayPal account. Both eChecks and Instant Transfers are 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 Buyer Abuse?PayPal takes action against buyers with a history of abusingour policies. This includes buyers who may be filing dishonest or excessive disputes, claims, chargebacks, or bank transfer returns. We offer buyers purchase protection for the following: Unauthorized account access and use Items not received from the seller Items What is a chargeback?When a customer files a chargeback with their credit card issuer, it means that theyre disputing a charge and asking the card issuer for a refund. A customer might file a chargeback because they: Didnt receive their item. Received a damaged or defective item. Dont recognize a credit What is One Touch and how do I use it?What is One TouchTM? One TouchTMallows you to complete purchases faster while still keeping your financial information secure. When you log into PayPal, with your mobile phone or from a desktop, tablet or laptop you can choose to stay logged-in for easier, faster checkout across all eligible merchants. 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 SGMLs strength and HTMLs What is Payment Review?We review some payments to help protect sellers from risky or fraudulent payments. If we review a payment, well send you an email within minutes letting you know that your payment is Pending while we investigate. We also ask you not to ship your items until our review What can I do with PayPal?PayPal lets you quickly and securely send and receive money for goods, services and more. With PayPal you can: Shop online in more than 190 countries and regions. Pay for things and send money without sharing your financial information. Checkout quickly at hundreds of your favorite online stores What is a bank reversal?A bank reversal, sometimes known as an ACH Return, is when PayPal receives a request to return funds for a transaction that was funded by a bank account. A request for a bank reversal can come from the buyer who holds the bank account or the bank itself. What is the Message Center?What isthe Message Center? PayPal has created a Message Center for its customers, like most financial institutions and eBay provide. TheMessage Center gives PayPal the ability to communicate with you within the framework of a new mailbox inside your PayPal account. It also provides you with a way What are disputes and claims?You can report a problem transaction and ask your seller for help by opening a dispute in the Resolution Center. After you open a dispute, you can exchange messages with your seller to work out the problem. Before you open a dispute, though, we recommend you contact the 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
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