IRS Form W-9Instructions for filling out and submitting the form KBF needs before paying prize money
What is an IRS Form W-9
Officially known as a Request for Taxpayer Identification Number and Certification, the IRS Form W-9 is used by KBF to get the Taxpayer Identification Number (TIN) from competitors to whom it intends to pay cash prizes. The form also provides KBF with other personally identifying information like name and mailing address. The form acts as an agreement that you are responsible for withholding taxes that are required to be paid from your winnings.
Who has to fill one out?
KBF requires that any competitor awarded a cash prize or bonus fill out, sign, date, and submit a W-9 form.
Where do I get one?
Here’s a link that will open a Form W-9 in PDF format on the IRS Website: www.irs.gov/pub/irs-pdf/fw9.pdf
The form actually takes up only half a page; instructions are at the bottom of the page and the next page. The PDF is dynamic, meaning one can fill in most of the information on the screen before printing. If you prefer, print it and fill it out entirely by hand. Either way, the form must be printed in order for it to be signed and dated—those two fields cannot be filled in on the browser screen.
What do I do with it, once I’ve filled it out?
- Lay the form on a flat, well-lit surface and photograph it, making sure the entire page is visible and pretty much fills the field of view.
- Check your photograph to make sure it is legible—not blurred or poorly lit.
- Send the form as an email attachment to KBF Customer Care Manager Lynette Brentlinger at firstname.lastname@example.org.
What does KBF do with it?
KBF will keep your W-9 on file in digital format or hard copy in case it is needed for tax preparation. For individuals to whom KBF pays out $600 or more during a calendar year, KBF will prepare IRS Form 1099 forms using the information on the W-9. A Form 1099 outlines all the payments made to you. One copy will be mailed in January to you at the address provided on the W-9, and another copy will be mailed to the IRS. (For amounts under $600, no 1099 is produced or mailed.)