W-9 Form | Why You Need It And How to Fill it Correctly?

The W-9 form is the simplest identified form for U.S. citizens. In this video, we will tell you everything about the W-9 form, and why you need it? Purpose of W-9 form? How to fill out this form?

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🔥 HOW WE CAN HELP YOU...

Let's face it... starting a business is COMPLICATED and CONFUSING.

We offer Done-For-You Business Services to help entrepreneurs start their online businesses without dealing with complicated legal forms from anywhere in the world! 🚀🚀

We take care of all of the paperwork for you so you can make more money and spend more time doing what you love!

We help all types of entrepreneurs start their businesses including...

Amazon FBA business, e-commerce, real estate, selling products online, dropshipping. digital marketing, consulting, software, marketing, selling books, social media marketing, wholesale, management, investment, development, sales, and other businesses.

In 2013, I took the leap to start a virtual law firm so I could help entrepreneurs start their own businesses and work online on my laptop from anywhere in the world (...best decision I've EVER made).

Since then, my team and I have assisted more than 7,236+ entrepreneurs start their businesses and our done-for-you service is backed by more than 3,258 5.0 Star Google Reviews 🌟🌟🌟🌟🌟 from clients who love our QUICK and STREAMLINE ONLINE SERVICE!

Interesting in starting your business?

Call Us: 818-925-0002

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🔥 ONLINE TOOLS WE USE AND HIGHLY RECOMMEND!

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

🚀 FOLLOW MOLLAEI LAW ON SOCIAL MEDIA!

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

DISCLAIMER: This video and content are for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Nothing herein is intended to nor constitutes a guarantee, warranty or prediction regarding the outcome of your legal matter. This description may contain affiliate links. If you purchase a product through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefited from personally.

[PiyushJha-hlob]

Very well explained. Thank you for sharing!

[ME-jcxi]

W9 establishes chapter 4 payee status. W9 is used to track foreign persons US sourced income. Chapter 3 withholding on Nonresident aliens and chapter 4 dealing with foreign persons accounts, are the only chapters that tell us who uses a W-9.
A US PERSON as defined in 26 USC is a US citizen or resident alien individual who Uses the W9.
Section 2 of the W9 instruction form says to establish to the withholding agent that you are the US person use form W9.

A withholding agent is defined as any person who has custody and control of foreign persons US sourced income. 26 CFR 1.1441

A PAYOR is generally a withholding agent.

All of this can be found in chapter 3 and chapter 4

[thebatmanbadass]

I’m trying to figure out Fiverr if I should check the individual box or partnership box

[colino]

Great video Mollaei! Quick question, how is a w9 filled out for a LLC that is disregarded to an irrevocable grantor trust?

[lindcobbs]

I was sent a W-9 form from an oil and gas company because I’m a mineral royalty owner and need to know how someone in my case fill out a W-9 form.

[BRLESKSPINS]

thanks for literally just reading the legaleze from google and not explaining things like “type s corporation”

[muhammad_rh]

I received the w-9 form from my bank, but im not employed. And I did have a savings, but it was shutdown after like 2-3 weeks. What should I do? pls help

[iexist]

If you’re an employee, you can still fill out a W9.

[freddyhollingsworth]

I live on a private road, 12 houses, I paid up front to get the road fixed($14, 000), one guy is trying to W-9 me before he reimburse me. I am not a business, I just paid it all up front so the gravel/dozer guy didn't have to try and get checks from everyone. Should I fill out a W-9? He owns a house on our road that he rents out.

[jaym]

Hi Which form should a UK citizen that has disregarded entity in the US fill in, is it w8-e or w9 form Thanks

[HeathHeine]

How should the w9 be filled out for the name and business name as a franchisee?
For instance Name: ABC LLC.
Business Name: Subway

[rhondacosta]

Great vid. Little fast and the topic confusing. Question: I have an LLC single member in Delaware. Part of my business as an a sport agent places people in sport academies for the academy to provide training. The sport academy then passes me a commission per individual or per group. BUT! These sport academies are outside the US in Europe. Do i supply them a w9 form? Thank you in advance :)

[keybladewar]

I have a question, So I got accepted/partnered with Union for Gamers Network. Does this mean that on the W9 form I should choose the parnership box since I am the only person running my channel? I just want to get this right & deal with the 1099 once I cross that bridge thanks in advance.

[miguelpena]

What happens when you want to open a bank account abroad and the bank asks you to fill out a W-9? How or is it even necessary reporting it once you return to the States?

[rickyfuenmayor]

Where should I send W-9 form if I will own a property and I'm foreing living outside US?

[jingpeng]

I don‘t know why a bank sent me a w9 from to me, I am not self employee, what should I do, please advise.

[nylezfuller]

What if I continue to work for my employer but do not submit the W9? Just curious

[ME-jcxi]

And W4 is used only by two classes of persons, Resident alien individuals and Nonresident alien individual.
Many sections of law verify this.
26 CFR § 601.104 Collection functions.
(a) Collection methods

(2) Withholding of tax at source. Withholding at the source of income payments is an important method used in collecting taxes. For example, in the case of wage earners, the income tax is collected in large part through the withholding by employers of taxes on wages paid to their employees. The tax withheld at the source on wages is applied as a credit in payment of the individual's income tax liability for the taxable year. In no case does withholding of the tax relieve an individual from the duty of filing a return otherwise required by law. The chief means of collecting the income tax due from nonresident alien individuals and foreign corporations having United States source gross income which is not effectively connected with the conduct of a trade or business in the United States is the withholding of the tax by the persons paying or remitting the income to the recipients. The tax withheld is allowed as a credit in payment of the tax imposed on such nonresident alien individuals and foreign corporations.

[arturomorales]

Question!!!? Why is my bank making me fill out a W-9 form ??

[abrahamdelatorre]

I won a computer on a giveaway and they sent me a w-9. Should I fill it out?