How To Fill Out Form W-9 For An LLC

You probably made it here because a company you are working with requested a filled-out IRS Form W-9. 

You’re in luck because completing this form is quick and easy to do and we will show you how! We will answer what the W-9 form is, how it’s used, and how to correctly fill it out. 

What is a W-9 Form?

IRS Form W-9 is used by businesses to gather information from entities that provide over $600 worth of services or products to them. 

The IRS Form W-9 is provided by the Internal Revenue Service (IRS) and collects information such as the company’s name and contact information, type of entity, and Taxpayer Identification Number (TIN) for federal tax purposes.

What is IRS Form W-9 used for?

Whether a freelancer, independent contractor, or major corporation, a request to fill one of these out is very likely. 

So, since you were asked by a company that you want to want to start working for, you may be wondering why. 

This company is responsible for requesting the completed IRS Form W-9 as they use the provided information to report the payments they made to you to the IRS. At the end of the year, the paying company will issue a 1099-NEC or Nonemployee Compensation form (which was previously Form 1099-Misc) to the entities they paid. The entities that receive the 1099-NEC form will use this information to prepare their end-of-year taxes. 

Without a completed W-9, the paying business can withhold 28 percent of the money paid to your LLC, which is sent to the IRS.

How do I fill out a W-9 for my LLC?

That’s it! 

Once you are done filling out the completed Form W-9, it is ready to send to the entity requesting it. 

You can also keep a copy of this document, so if others request it, you will have one handy.

If there are questions that haven’t been answered in this article, you can learn more on the Form W-9 instructions.