For US companies hiring independent contractors below are the relevant forms.
-
Form W-9 (Request for Taxpayer Identification Number and Certification)
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Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting)
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Form W-8BEN-E (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting)
The citizenship or tax status of the independent contractor, determines which form should be collected.
| US contractors (US citizen or tax resident) |
International contractors - individuals |
International contractors - entities |
|
| US company - once at the beginning of the engagement | Form W-9 | Form W-8BEN | |
| US company - issued yearly | Form 1099-NEC |
Oyster helps with collecting and storing the correct form for each contractor:
- Determining the appropriate form to collect
- Assisting the contractor with completing the form through the Oyster platform
- Storing the forms on the team page
