Partners that are based in the United States or partners that work with brands that are based in the United States are required to submit an electronic tax document in order to comply with US tax law. Income earned on impact.com does not have any taxes withheld from it. Learn about the different tax forms and which one you need to submit.
impact.com requires you to submit one of the following tax forms electronically:
Form W-9 for all partners based in the United States (for all individuals and entities).
Form W-8BEN for individuals not in the United States partnered with brands based in the United States (i.e., you're operating by yourself and not operating as an entity in your country).
Form W-8BEN-E for entities not in the United States partnered with brands based in the United States (i.e., you're operating as an organization or company in your country).
Below is a list of criteria to keep in mind when filling out your W-8 and W-9 tax form information in order to avoid being placed on a payment hold:
- Name:
If you're an individual filing a W-9 or a W-8BEN, make sure your name submitted on Line 1 exactly matches the name you provide in the Beneficiary Account Name field on the Bank Account screen, otherwise, you won't be able to withdraw your funds via EFT.
- Organization name:
If you're an entity (organization) submitting a W-9 or a W-8BEN-E, make sure your business name submitted on Line 2 exactly matches the name you provide in the Beneficiary Account Name field on the Bank Accountscreen, otherwise, you won't be able to withdraw your funds via EFT.
- Finance checking protocol:
-
The finance checking protocol takes into account:
Case-sensitive (lower and upper-case lettering)
Full-stops/periods/commas/question and exclamation marks
Special characters
Spacing
- Partnered with non-US brands:
Partners that aren't working with brands based in the United States don't need to submit a US tax form—you won't see this option in the Balance menu.
- Form W-9:
The W-9 form needs to be fully completed, signed, and dated.
Line 1 in the form always needs to be completed even if you have completed line 2.
Only one Organisation type must be selected.
The Company name on the W-9 form needs to match the Beneficiary name in the account under Withdrawal Settings (excluding PayPal).
The EIN/SSN number on the W-9 form needs to match the EIN/SSN provided in the account. Reach out to support to confirm that these numbers match.
The Organisation type on the W-9 form needs to match the Organisation type in the account. This can be confirmed under Company Information in the settings section.
- Form W-8:
Country, mailing, and billing address information should not indicate United States.
Name on the tax form should reflect the payee's name.