The latest version of the IRS Form W-9 is the March 2024 revision.
The key changes in the March 2024 Form
W-9 include:
Line 3a has been modified to clarify how a disregarded entity should complete this line. An LLC that is a disregarded entity should check the appropriate box for the tax classification of its owner, not the "LLC" box.
A new line 3b has been added. A flow-through entity is now required to complete this line to indicate if it has any direct or indirect foreign partners, owners, or beneficiaries. This is to help the entity satisfy any applicable foreign partner reporting requirements.
The purpose of Form W-9 remains the same - to provide your correct taxpayer identification number (TIN) to an entity (the "requester") that is required to file an information return with the IRS, such as a 1099 form.
The form should be completed and returned to the requester. It is not filed directly with the IRS. Businesses are required to keep W-9 forms on file for at least 4 years for documentation purposes.
How to fill out the new Form W-9
Here are the key steps for correctly filling out the latest March 2024 version of the IRS Form W-9:
1. Line 1 (Name): Enter the name as shown on your tax return. For individuals, this is typically your first and last name. For entities, use the business name.
2. Line 2 (Business name/disregarded entity name): If applicable, enter any business name, trade name, DBA name, or disregarded entity name.
3. Line 3a (Check the appropriate box for federal tax classification): For a disregarded entity, check the box for the tax classification of the entity's owner, not the "LLC" box.
4. Line 3b (Are you a foreign partner in a partnership?): If you are a flow-through entity, indicate whether you have any direct or indirect foreign partners, owners, or beneficiaries. This helps satisfy foreign partner reporting requirements.
5. Line 4 (Exemptions): If you are exempt from backup withholding, enter the appropriate exemption code.
6. Line 5 (Address): Enter your complete address.
7. Line 6 (Taxpayer Identification Number): Provide your Social Security Number (SSN) or Employer Identification Number (EIN). This is critical for tax reporting purposes.
8. Sign and date the form. The W-9 can be signed electronically.
Form W-9 filled example
Here is an example of a correctly filled out March 2024 IRS Form W-9:
Example W-9 Form
Line 1 (Name)
John Doe
Line 2 (Business name/disregarded entity name)
ABC Consulting, LLC
Line 3a (Check the appropriate box for federal tax classification)
☐ Individual/sole proprietor or single-member LLC
☐ C Corporation
☐ S Corporation
☐ Partnership
☒ Trust/estate
☐ Limited liability company. Enter the tax classification (C=C corporation, S=S corporation, P=Partnership) ▶
☐ Other (see instructions) ▶
Line 3b (Are you a foreign partner in a partnership?)
☒ Yes, I am a foreign partner in a partnership.
☐ No, I am not a foreign partner in a partnership.
Line 4 (Exemptions)
Exempt payee code (if any) __________
Exemption from FATCA reporting code (if any) __________
Line 5 (Address)
123 Main St.
Anytown, CA 12345
Line 6 (Taxpayer Identification Number (TIN))
Social Security Number: 123-45-6789
I certify that the information provided on this form is true and correct to the best of
my knowledge.
Signature ▶ John Doe
Ensuring accurate completion of the Form W-9, especially with the new changes, is vital to avoid potential tax reporting complications. Following these steps will help you properly fill out the latest version of this important tax document.
Get Latest W-9 form:
[PDF] Form W-9 (Rev. March 2024) - IRS
W9 Form - IN.gov
Free IRS Form W9 (2024)
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