Looking for a Substitute Form W-9 Templates? Download it for free!

2 However, the following payments made to a corporation and reportable

Exemptions

on Form 1099-MISC are not exempt from backup withholding: medical and

If you are exempt from backup withholding and/or FATCA reporting, enter

health care payments, attorneys' fees, gross proceeds paid to an attorney,

in the Exemptions box, any code(s) that may apply to you.

and payments for services paid by a federal executive agency.

Exempt payee code. Generally, individuals (including sole proprietors) are

Exemption from FATCA reporting code. The following codes identify

not exempt from backup withholding. Corporations are exempt from

payees that are exempt from reporting under FATCA. These codes apply to

backup withholding for certain payments, such as interest and dividends.

persons submitting this form for accounts maintained outside of the United

Corporations are not exempt from backup withholding for payments made

States by certain foreign financial institutions. Therefore, if you are only

in settlement of payment card or third party network transactions.

submitting this form for an account you hold in the United States, you may

leave this field blank. Consult with the person requesting this form if you

Note. If you are exempt from backup withholding, you should still complete

are uncertain if the financial institution is subject to these requirements.

this form to avoid possible erroneous backup withholding.

A—An organization exempt from tax under section 501(a) or any

The following codes identify payees that are exempt from backup

individual retirement plan as defined in section 7701(a)(37)

withholding:

B—The United States or any of its agencies or instrumentalities

1—An organization exempt from tax under section 501(a), any IRA, or a

custodial account under section 403(b)(7) if the account satisfies the

C—A state, the District of Columbia, a possession of the United States, or

requirements of section 401(f)(2)

any of their political subdivisions or instrumentalities

2—The United States or any of its agencies or instrumentalities

D—A corporation the stock of which is regularly traded on one or more

established securities markets, as described in Reg. section 1.1472-1(c)(1)(i)

3—A state, the District of Columbia, a possession of the United States, or

any of their political subdivisions or instrumentalities

E—A corporation that is a member of the same expanded affiliated group as

a corporation described in Reg. section 1.1472-1(c)(1)(i)

4—A foreign government or any of its political subdivisions, agencies, or

instrumentalities

F—A dealer in securities, commodities, or derivative financial instruments

(including notional principal contracts, futures, forwards, and options) that

5—A corporation

is registered as such under the laws of the United States or any state

6—A dealer in securities or commodities required to register in the United

G—A real estate investment trust

States, the District of Columbia, or a possession of the United States

H—A regulated investment company as defined in section 851 or an entity

7—A futures commission merchant registered with the Commodity Futures

registered at all times during the tax year under the Investment Company

Trading Commission

Act of 1940

8—A real estate investment trust

I—A common trust fund as defined in section 584(a)

9—An entity registered at all times during the tax year under the Investment

J—A bank as defined in section 581

Company Act of 1940

K—A broker

10—A common trust fund operated by a bank under section 584(a)

L—A trust exempt from tax under section 664 or described in section

11—A financial institution

4947(a)(1)

12—A middleman known in the investment community as a nominee or

M—A tax exempt trust under a section 403(b) plan or section

custodian

13—A trust exempt from tax under section 664 or described in section 4947

The following chart shows types of payments that may be exempt from

backup withholding. The chart applies to the exempt payees listed above, 1

through 13.

IF the payment is for . . .

THEN the payment is exempt for . . .

All exempt payees except

Interest and dividend payments

for 7

Broker transactions

Exempt payees 1 through 4 and 6

through 11 and all C corporations. S

corporations must not enter an exempt

payee code because they are exempt

only for sales of noncovered securities

acquired prior to 2012.

Barter exchange transactions and

Exempt payees 1 through 4

patronage dividends

Payments over $600 required to be

Generally, exempt payees

reported and direct sales over

1 through 5 2

$5,000 1

Payments made in settlement of

Exempt payees 1 through 4

payment card or third party

network transactions

1 See Form 1099-MISC, Miscellaneous Income, and its instructions.

Updated 9/2014

Substitute W-9 Form - Ochra Housing & Redevelopment Authority, County Of Olmsted, Minnesota Page 2

Related Articles

Related forms

Related Categories