Required Verification Information for Taxes
Note
Stripe recommends that you consult a tax advisor to determine your tax filing and reporting requirements.
Required information (1099-K, 1099-MISC, 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
sole_prop
, or business type iscompany
and business structure issole_proprietorship
- Single Member LLC: business type is
company
and business structure issingle_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 fields to populate.
Type | SPE with US-based representative | SPE with non-US-based representative | Company |
---|---|---|---|
Name |
| company.name | company.name |
TIN | individual.id_number | company.tax_id | company.tax_id |
Address |
Required address fields are: |
Required address fields are: |
Required address fields are: |
If you have any of the 1099 capabilities turned on, Payouts become disabled if the required information isn’t collected and verified by 600 USD in charges.