A U.S. person generally includes the following:
What is a US person for FATCA and 1099K tax reporting purposes?
- 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 of the U.S or any state thereof, including where the entity is operating a business outside the U.S.
- A trust if (i) a court within the U.S. would have authority under applicable law to render orders or judgments concerning substantially all issues regarding administration of the trust, and (ii) one or more U.S. persons have the authority to control all substantial decisions of the trust, or an estate of a decendent that is a citizen or resident of the U.S.
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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-US accounts. FATCA requires some of PayPals non-US subsidiaries to collect information from their account holders 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 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 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 CRA Information RequestPayPal has received a Federal Court order, which requires us to disclose information to the Canada Revenue Agency (CRA) about PayPal Business account holders that have received or sent a payment through their account between January 1, 2014 and November 10, 2017. What information has PayPal been ordered 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 How does PayPal provide accessible services to individuals with special access needs?PayPal Canada Co. Accessible Customer Service Policy Providing Services to Persons with Disabilities Policy PayPal Canada Co. (PayPal or the company) is committed to excellence in serving all of its users, including those with disabilities. PayPal is committed to providing accessible and integrated customer service in a way 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 features do Personal accounts offer?With a Personal account, you can send money to almost anyone with an email address. You can send and receive some types of payments with no fees, and pay low fees for others. For complete information, see the fees section of our User Agreement. Note: Unfortunately, we’ve had 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 is PayPal's policy regarding the sale of real property?You cant use PayPal to buy or sell real property, including buildings, land, or anything affixed to the land. Besides the direct sale of real property, we also dont allow transactions that involve: Raffles or lotteriesoffering the opportunity to purchase or the chance to win a specific house. 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 information is required to open a Personal PayPal account?To open a personal PayPal account, you'll need to provide your name, address, phone number, and email address. We also ask that you create a password for your PayPal account and choose two different security questions to answer. This information is necessary for us to protect you from What are the fees for using PayPal?Opening an account: PayPal does not charge a fee to open a PayPal account. Sending money Personal payments: There are no fees within Canada to send money to family and friends when you use only your PayPal balance or bank account, or a combination of your PayPal balance 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 operations What is PayPal's Infringement Report process?Our Infringement Report (IR) allows rights owners to identify potentially infringing activity taking place in association with a PayPal account. This process can be used to report infringement on websites or other forums offering goods or services through PayPal. PayPal also allows third parties to develop applications utilizing 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 tips can I use when purchasing online? We have lots of information to help ensure that your online shopping experience is secure. Go to the PayPal website and click Security and Protections at the top of the page for online safety tips and resources. What is Return Shipping on Us and how do I activate it?Return Shipping on Us is available to customers who have activated the service and have a qualifying transaction on their PayPal account. This service is free and applies to physical, tangible goods where the return does not violate the sellers condition of sale. For more information, check the
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