What is a U.S. person for FATCA and 1099K tax reporting purposes?
A U.S. person generally includes the following:
For more information, please visit the IRS website.
- 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 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 descendent that is a citizen or resident of the U.S.
For more information, please visit the IRS website.
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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 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. Pursuant 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 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 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 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 is a Certificate of Foreign Status (U.S. tax Form W8 BEN/BEN-E)? Why do I need to provide this to PayPal?All U.S. payment processors, including PayPal, are required by the U.S. Internal Revenue Service (IRS) to provide information to the IRS regarding account holders who receive payments for the sale of goods or services. In order for PayPal to satisfy its information reporting obligations under IRS rules and 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 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 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 How do I report potential fraud like unauthorised activities or fake emails to PayPal?It's extremely important to report any suspected instances of fraud. Not only will this protect you, it'll also help make the internet a safer place to do business. Here are some types of fraudulent activity and steps to report them: Unauthorised activity on your PayPal account If you notice Where can I find PayPal Reporting information?PayPal's payment solutions have various reports and search tools available to help you with payment reconciliation, forecasting, and order tracking. For a list of available reports and their descriptions and report specifications, see our Reporting page.How do I access the SFTP server and retrieve my reports?This page provides examples for retrieving SFTP report files using WinSCP and a Linux command line. WinSCP is a free SFTP client for Windows. PayPal doesn't endorse or recommend WinSCP; it's just one of the more popular SFTP clients for Windows and is used for this example. SFTP Why didn't I get reports on my PayPal account activity?Issue PayPal hasn't generated reports on your account's activity. Cause System issues at PayPal can delay or prevent report delivery. Solution PayPal generates reports and puts them on the PayPal website or the Secure FTP Server generally by 12:00 P.M. daily, in the leading time zone of the How do I report a billing issue?If you identify a billing issue with a transaction on your account, we encourage you to report it in our Resolution Centre as soon as possible. Some examples of billing issues include: You returned an item to a seller or cancelled a transaction with a seller, but What information will you need about my crowdfunding campaign?In some circumstances, you or your organisation may need to submit additional information so we can verify your campaign. Some examples of this may include: Full legal name Residential Address or documents to verify it Business or trading address or documents to verify it Date of Birth Government 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 Why did I get an unrecognizable format error when opening Excel reports?Issue PayPal returned an unrecognizable format error when you tried to open daily generated reports in Excel. Cause This issue occurs due to the way these types of report files are encoded (UTF-8). Newer versions (Excel 2003 or later) may not have this issue. Solution Here's how to What is PayPal.Me?PayPal.Me is a faster, easier way to get paid through PayPal. Just share your unique PayPal.Me link with your friends or customers. They can simply tap on your link, type in the amount and confirm to pay. They don’t even have to know your email address or install
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