August 29, 2013
In August 2013, the IRS released a revised IRS Form W-9 (Revised August 2013), which includes one new exemption field, one expanded exemption field, an amended certification and updated instructions. Form W-9, the Request for Taxpayer Identification Number and Certification form, is one of several forms being revised to conform to the provisions of the Foreign Account Tax Compliance Act (FATCA). The official version of the form, including the updated instructions, is available on the IRS website at irs.gov.
Below is a summary of the changes made to the August 2013 version of Form W-9. For additional details, please refer to the "Specific Instructions" that begin on the second page of the revised form.
New Exemption Codes
The certification section has been modified to include this statement, requiring payees to certify that their FATCA exemption code is correct:
1Please note that FATCA regulations presume that undocumented U.S. entities are foreign and, as a result, Non-Participating Foreign Financial Institutions (NPFFIs). Though the Treasury and IRS may change this presumption, this has not yet occurred.