Required Verification Information for Taxes
Learn what account information you need to provide for your Connect accounts if you want Stripe to help you with US federal 1099 tax reporting.
Note
Stripe recommends that you consult a tax advisor to determine your tax filing and reporting requirements.
If any of the 1099 capabilities are turned on, Payouts become disabled if the required information isn’t collected and verified by 600 USD in charges. When you apply the capability on a existing account with 600 USD or more in charges, the account’s Payouts immediately become disabled.
Required information (1099-K, 1099-the related setting, 1099-NEC)
The following table lists the requirements for connected accounts with any of the 1099 capabilities. Stripe requires the business tax details except when the account is set up as a Single Person Entity (SPE) with a US-based representative, in which case we’ll use the representative’s personal tax details.
Stripe defines a Single Person Entity as follows:
- Individual: business type is individual
- Sole Proprietorship: business type is company and business structure is sole _ proprietorship
- Single Member LLC: business type is company and business structure is single _ member _ llc
Even if you don’t add the 1099 capabilities and want to update the information directly in Stripe to file your 1099 forms, these are the properties to populate.
| Type | SPE with US-based representative | SPE with non-US-based representative | Company |
|---|---|---|---|
| Name | individual.first_name individual.last_name | company.name | company.name |
| TIN | individual.id_number | company.tax_id | company.tax_id |
| Address | individual.address Required address properties are: individual.address.line1 individual.address.postal_code individual.address.city individual.address.state | company.address Required address properties are: company.address.line1 company.address.postal_code company.address.city company.address.state | company.address Required address properties are: company.address.line1 company.address.postal_code company.address.city company.address.state |