Managing W-9 Compliance for Participants
When participants provide your organization with a valid W-9 Tax Form, reflect this in the SaaSquatch portal and allow them to receive more rewards.
Before reading this article, we recommend that you first read about W-9 Compliance on the SaaSquatch Growth Automation Platform.
🔗 Marking a Participant’s W-9 Form as Collected
When one of your participants has provided your organization with a valid W-9 Tax Form, you are able to reflect this within the SaaSquatch Portal. If you go to the participants Profile Page and navigate to the Tax Compliance tab, you will see the current state of their rewards and their W-9 Tax Form.
Click “Mark as collected” to signify that you have collected the participants W-9, you will then need to confirm that the participant has submitted a valid W-9 Tax Form.
The Tax Compliance tab will now show that the participant’s W-9 Tax Form has been marked as collected as well as when it was collected.
If the participant has any historical rewards Pending because of W-9 Compliance, these rewards will now become available for collection. Additionally, this participant will no longer be limited to $599.99 USD of rewards during current or future tax years.
You can also mark a participant's W-9 Tax Form as not collected. Doing so will not retroactively change the status of any of the participants' rewards to Pending, regardless to if they are over the $599.99 USD limit for the tax year. Only future rewards will be subject to W-9 Compliance enforcement.