Investing Answers Building and Protecting Your Wealth through Education Publisher of The Next Banks That Could Fail
Investing Answers Building and Protecting Your Wealth through Education Publisher of The Next Banks That Could Fail

W-9 Form

What it is:

The W-9 form is a standard IRS form that certifies an individual's Social Security number and taxpayer identification number.

How it works (Example):

Employers and all types of brokers (for example, securities dealers and real estate agents) are required to report details of transactions to the Internal Revenue Service (IRS). Employees and brokerage clients must submit a W-9 form to employers and brokers to verify their Social Security number (SSN) and tax identification number (TIN).

Why it Matters:

The information on a W-9 form ensures that employers and brokers report income from payrolls and financial transactions to the correct taxpayer. Non-U.S. citizens who are legal residents may substitute a W-8 form.