{"id":6900,"date":"2020-03-13T19:51:26","date_gmt":"2020-03-13T23:51:26","guid":{"rendered":"http:\/\/privacyfight.io\/?page_id=6900"},"modified":"2023-06-23T13:16:22","modified_gmt":"2023-06-23T17:16:22","slug":"w-9-ein-certification","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/w-9-ein-certification\/","title":{"rendered":"U7 &#8211; W-9 &#038; EIN Certification"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"6900\" class=\"elementor elementor-6900\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-389f42b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"389f42b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2d0e885\" data-id=\"2d0e885\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d662b58 elementor-widget elementor-widget-text-editor\" data-id=\"d662b58\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"vidseo_wrapper\" style=\"width: 100%;\">\r\n\r\n    \r\n    \r\n        <div class=\"vidseo_vimeo\">\r\n\r\n            <iframe title=\"vimeo-player\" src=\"https:\/\/player.vimeo.com\/video\/716090340\/?\" width=\"100%\" frameborder=\"0\" allowfullscreen><\/iframe>\r\n\r\n        <\/div>\r\n\r\n    \r\n    \r\n    <div class=\"vidseo_collapse\" style=\"\">\r\n        <div class=\"vidseo_btn\" style=\"\">\r\n            U7 \u2013 W-9 Step by Step LLC &#038; Setup\r\n0:02\r\nWell, hi everybody, this is John Jay, and I just want to go over a few items regarding the W nine EIN Certification, OK, this is what the W nine form is to certify the correctness of the EIN.\r\n0:14\r\nSo, we\u2019re getting an EIN for either your partnership, tr&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U7 \u2013 W-9 Step by Step LLC &#038; Setup<br \/>\n0:02<br \/>\nWell, hi everybody, this is John Jay, and I just want to go over a few items regarding the W nine EIN Certification, OK, this is what the W nine form is to certify the correctness of the EIN.<br \/>\n0:14<br \/>\nSo, we\u2019re getting an EIN for either your partnership, trust, or limited liability company. The sole purpose really is to open a bank account.<br \/>\n0:23<br \/>\nSo, I would just want to make a comment about applying for the EIN.<br \/>\n0:26<br \/>\nIt\u2019s so easy just to apply for the EIN as a single member, LLC, when you\u2019re using it for that purpose, and you\u2019ll get the number.<br \/>\n0:35<br \/>\nJust make sure that when you get your approval letter, make sure that the name of the company has comma LLC after it or the name of your trust has the word trust in there.<br \/>\n0:47<br \/>\nSo that way, it has the proper designation.<br \/>\n0:49<br \/>\nYou don\u2019t want the EIN assigned to just your company name without the comma LLC after that because it\u2019ll just be considered a sole proprietorship and you certainly don\u2019t want to do that.<br \/>\n1:00<br \/>\nSo it\u2019s a good idea to follow the instructions I send out with all these these filings and watch the example video, it\u2019s really helpful and just keep in mind.<br \/>\n1:09<br \/>\nHowever, you get this EIN, assigned to your LLC. Just make sure that it ends up being assigned to the LLC, your company name, comma, LLC.<br \/>\n1:18<br \/>\nNow, what I did here, you can see the actual W nine form.<br \/>\n1:23<br \/>\nSo I\u2019m going to switch over, and we\u2019re going to talk about the form W nine.<br \/>\n1:26<br \/>\nSo the way I\u2019ve found this is I just go to a search engine and I search on Form W nine PDF, and you can put the year 20, 20.<br \/>\n1:34<br \/>\nIt just so happens that the latest version, as you know, has been revised October 2008 team what you\u2019re going to run into is a long list of financial services accountants, attorneys, and whatever. They\u2019re using, filling out this form as a lead generator.<br \/>\n1:49<br \/>\nAnd what they\u2019ll tell you is, it\u2019s a printable, fillable W nine form, and then what they\u2019ll do is collect your data, and then, populate the form for you, and then send it to you, or sell it to you, Or try to sell you, upsell you on a service, OK.<br \/>\n2:03<br \/>\nSo instead, what you want to do is search for form W nine and look down the list of all the when you put the PDF in there.<br \/>\n2:10<br \/>\nIt kind of narrows it down but look down the list of all the form listings in your search engine and look for the one that\u2019s at the IRS website. So, it\u2019ll say something like, IRS dot gov, dash something. Eventually, it\u2019ll say W nine, right?<br \/>\n2:26<br \/>\nSo, click on that link, and it should just open up right away, and it\u2019ll be six pages.<br \/>\n2:30<br \/>\nAlright? See, it\u2019s six pages long only, the first page is what we\u2019re going to file. The other pages are just instructions.<br \/>\n2:37<br \/>\nAll right. So, you see here, I have, the way this works is when you find it on the internet, and you click the link, it\u2019ll open up in your browser.<br \/>\n2:44<br \/>\nWhat you want to do is, over the top right now, I\u2019ve already done this, so you\u2019re not going to see it here, But at the top right, you\u2019re going to download the form from the Internet, it\u2019s going to open up a new window on your computer screen, and then you want to save it, OK.<br \/>\n2:59<br \/>\nYou want to do a file, save as and put it in the same folder that you put your EIN approval letter, and by the way on your EIN approval letter, I always like the make the filename for that, the, the number.<br \/>\n3:12<br \/>\nSo that\u2019s kinda easy to find it so I put that PDF file in my folder for the LLC name and then likewise I\u2019m going to put this W nine when I save it it\u2019s going to go into the same folder with the LLC\u2019s name, OK.<br \/>\n3:27<br \/>\nSo what we do is here we come down to line one and just an all caps, a name of company com, LLC, it\u2019s very important that you do that.<br \/>\n3:39<br \/>\nThen, remember, I saved this form to my computer.<br \/>\n3:45<br \/>\nSo that way, as I\u2019m typing, I\u2019m going to update it and save it again, so that way, I don\u2019t lose any data.<br \/>\n3:50<br \/>\nSo, we\u2019re just going to make the same name again, redundant, but that\u2019s what they do. So, Name of company, LLC, right, Chama, LLC, that\u2019s so important.<br \/>\n4:00<br \/>\nOnce you\u2019ve got those two filled out, we tab down, and, of course, we\u2019re going to tell the IRS what kind of organization this is. It is not any of these.<br \/>\n4:11<br \/>\nIt is a limited liability company, and let\u2019s call it a partnership. OK?<br \/>\n4:17<br \/>\nSo, we\u2019re just going to put a P&#038;L for partnership.<br \/>\n4:21<br \/>\nQuite simple.<br \/>\n4:22<br \/>\nUm, let\u2019s see, there\u2019s nothing else that needs to be completed here, except the address you want to use, just to be consistent. You don\u2019t have to do this, but I like to recommend it.<br \/>\n4:32<br \/>\nThe address is same as you used.<br \/>\n4:39<br \/>\nFor your EIN application, alright, just keep things simple, OK, don\u2019t need to put anything in there.<br \/>\n4:48<br \/>\nCity and state, obviously, same thing you did on your EIN application.<br \/>\n4:52<br \/>\nThis doesn\u2019t pertain to you. Do not ever put your SSN here.<br \/>\n4:57<br \/>\nEver, Ever, ever, for what we\u2019re doing.<br \/>\n5:01<br \/>\nYou can just leave it blank, you\u2019ll be fine, do put your EIN here. That is most important, OK?<br \/>\n5:08<br \/>\nSo you put your EIN, just like it\u2019s indicated, you can type it in there, then you\u2019re just going to certify a couple of things.<br \/>\n5:14<br \/>\none is, you\u2019re saying, basically that when you\u2019re saying, I hear what you\u2019re saying is the LLC, It\u2019s a US person, by the way.<br \/>\n5:24<br \/>\nUm, and so, you\u2019re certifying, actually, the LLC is certifying that the EIN being disclosed here, is correct.<br \/>\n5:34<br \/>\nAnd you\u2019re also certifying the LLC is certifying that it is not subject to backup withholding, and that\u2019s a big issue. I\u2019m not gonna get into it.<br \/>\n5:42<br \/>\nIf you want to lookup what, that really means.<br \/>\n5:46<br \/>\nYou will find very detailed explanation in Title 26 of the USC under Section 30, 406, OK?<br \/>\n5:54<br \/>\nIt\u2019s very detailed.<br \/>\n5:55<br \/>\nBut anyways, we don\u2019t care about that, so then you just come down here, signature of US. person. Now, again, your US. Person is your applicant. The applicant is your LLC, it\u2019s not you, it\u2019s not you individually, so you would sign your name, but you put a title next to it.<br \/>\n6:08<br \/>\nSo it\u2019d be Bill Smith, comma, authorized signatory, OK? You can do that for everybody. Everybody\u2019s an authorized signatory. You can be more specific. You can say Bill Smith, comma, vice president.<br \/>\n6:20<br \/>\nYou can say, Bill Smith, comma, managing Member, Bill Smith Karma, member, President, CEO, whatever you want to do, but put a title, whatever that is going to be. I always put authorize signatory, or I put Managing Member if you\u2019re not sure.<br \/>\n6:33<br \/>\nGo look at your Certificate of Beneficial Interests.<br \/>\n6:36<br \/>\nLook at your, um, your Operating Agreement. It\u2019ll tell you right there who the Managing Member is, OK? For a lot of you, I major Managing Member, the PMA, a private membership association, OK, it\u2019s a trust.<br \/>\n6:50<br \/>\nDon\u2019t tell the bank that, though.<br \/>\n6:51<br \/>\nSo anyways, sign your name, Put your title, Authorized signatory. Definitely put the date.<br \/>\n6:58<br \/>\nAnd that\u2019s it.<br \/>\n6:59<br \/>\nWhat I would do is, obviously, you\u2019re not going to science on the computer like some of you do. I know that you know how to use the software, I don\u2019t even know how to do that. I will just print it, sign it, and then scan it, OK?<br \/>\n7:09<br \/>\nI do it the old-fashioned way, so to speak.<br \/>\n7:12<br \/>\nThen I\u2019ve got this on my folder That deals with the LLC I\u2019m using. And if somebody asked me like an Exchange or somebody, I could just click on it and e-mail it to them right, It\u2019s already done.<br \/>\n7:22<br \/>\nAnd that\u2019s it. You don\u2019t need all this information, but you\u2019re welcome to read it.<br \/>\n7:26<br \/>\nIf you\u2019d just like to know all this stuff, that\u2019s, you know, that\u2019s all it\u2019s for.<br \/>\n7:30<br \/>\nYou verify the correctness of the EIN, and you verify that you certify that. It\u2019s not your LLC is not subject to backup withholding. It does not create a tax liability for you at all.<br \/>\n7:40<br \/>\nDo not again.<br \/>\n7:41<br \/>\nDo not use an SSN error, OK.<br \/>\n7:44<br \/>\nOnly use an EIN, just to pee.<br \/>\n7:49<br \/>\nVery sure that you understand that. All right, and that\u2019s as simple as it is and yes, you want to do it, especially if you\u2019re being asked. That way, there\u2019s no question. You don\u2019t want to get into a situation where a company is going to withhold 30% and then you gotta deal with the IRS.<br \/>\n8:03<br \/>\nIt\u2019s just a real nightmare in that situation.<br \/>\n8:06<br \/>\nSo, yeah, That\u2019s as simple as it is. I hope that helps, everyone.<br \/>\n8:11<br \/>\nThanks a lot.<\/p>\n        <\/div>\r\n    <\/div>\r\n\r\n    \r\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-54ca436 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"54ca436\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-37958bc\" data-id=\"37958bc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-79c24c3 elementor-widget elementor-widget-spacer\" data-id=\"79c24c3\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1926623 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1926623\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-124b5d0\" data-id=\"124b5d0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-720bfcc elementor-widget elementor-widget-text-editor\" data-id=\"720bfcc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"padding-left: 40px;\">1. The video tutorial explains the process of W-9 EIN certification for different types of businesses, including partnerships, trusts, or limited liability companies (LLCs).<br \/>2. It is emphasized that when applying for an EIN for an LLC, the official company name should be used, followed by a comma and &#8216;LLC&#8217;, to avoid the business being considered a sole proprietorship.<br \/>3. The tutorial demonstrates how to find and download the W-9 form from the official IRS website, avoiding third-party sites which might misuse the data or upsell services.<br \/>4. Once the form is downloaded, it should be saved in the same folder as the EIN approval letter for ease of reference.<br \/>5. The form should be filled with careful attention to detail, including the accurate company name and address, and specifically identifying the business as an LLC.<br \/>6. The presenter reminds viewers not to include their Social Security Number (SSN), and to instead provide their EIN.<br \/>7. Two main certifications are made: the EIN is correct and the LLC is not subject to backup withholding (the viewer is directed to Title 26 of the USC under Section 30,406 for more information).<br \/>8. The form should be signed with the person&#8217;s name, title (such as &#8220;authorized signatory&#8221; or &#8220;managing member&#8221;), and the date. <br \/>9. After signing, the form should be printed, scanned, and saved in the LLC&#8217;s designated folder. This digital version can be easily sent if requested by relevant authorities or businesses.<br \/>10. The tutorial concludes by emphasizing the importance of correctly completing the W-9 EIN certification to avoid possible complications, such as withholding taxes or issues with the IRS.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ab1715c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ab1715c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eb721b9\" data-id=\"eb721b9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>W-9 &#038; EIN Certificaiton<\/p>\n","protected":false},"author":131,"featured_media":8636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/6900"}],"collection":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/comments?post=6900"}],"version-history":[{"count":10,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/6900\/revisions"}],"predecessor-version":[{"id":25163,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/6900\/revisions\/25163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media\/8636"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=6900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=6900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=6900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}