W-9 WEBSITE INFORMATION Department of Financial Services Division of Accounting & Auditing 1.

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W-9 WEBSITE INFORMATION

Department of Financial ServicesDivision of Accounting & Auditing

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OverviewLegal BasisImpact

Website Overview Taxpayer Authentication Communication Plan Additional Information

LinksContact InformationQ & A

Topics for Discussion

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SubstituteForm W-9

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3% Withholding Legal Basis•Created

Section 3402(t) I.R.C.

•3% withholding law

•Effective January 1, 2012

•Requires governments to withhold 3 percent on individual payments for goods and services of $10,000 or more

Public Law 109-222, Section

511, Tax Increase

Prevention and Reconciliation Act (TIPRA) of

2005

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1099 and W-9 Legal Basis•Requires

vendors to provide their correct Taxpayer Identification Number (TIN) to Department of Financial Services (DFS) who must file information returns with the IRS to report certain payments

Internal Revenue Code (I.R.C.)

Section 6109-Identifying Numbers

•Healthcare Reform Bill

•Passed by Congress

•Eliminates corporate exemptions from 1099 reporting

Public Law 111-148, “Patient Protection and Affordable Care

Act”

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Impact

State must obtain Substitute Form W-9 for all vendors (over 200,000 vendors)◦Automate the submission of Substitute Form W-9

Vendors will need to submit a valid Substitute Form W-9 to State of Florida ◦Prior to first order or purchase

Business Designation section will expand to align with requirements of 3 percent withholding and draft regulations

IRS TIN matching will be used for validation

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W-9 Website Overview

W-9 Website Overview

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Launch Date: March

W-9 Website

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Vendor Portal Page

Click here to access “Profile Registration” screen

Select any of these options for additional information

Once registered, vendors can sign on to the W-9 Website

Training on how to access and complete forms is offered through this link

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Vendor Website

For details on registration and submission of the Substitute Form W-9, please view the presentation at the following link:

http://www.myfloridacfo.com/aadir/docs/SubstituteFormW9Workshop.pdf

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Taxpayer Authentication

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State of Florida participates in IRS TIN Matching Program◦ Nightly load of all of the Substitute Form W-9 adds or name changes

will check the TIN against the IRS Name/TIN combination contained in the IRS database

Vendor will receive one of three responses via email1. IRS Name and TIN combination match IRS records and vendor

account will be activated2. TIN submitted has not been issued to any entity therefore it is

invalid3. IRS Name and TIN combination does not match IRS records

Status will appear on W-9 Main Menu

Status may be checked in Statewide Vendor File

IRS TIN Matching Process

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Communication Plan

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Webinars for State of Florida Vendors◦ February 24, 2011◦ March 17, 2011◦ March 24, 2011

Message on Warrant and EFT Remittances

Notification and link on MyFloridaMarketPlace (MFMP) website

DFS Flyer

Messages and links on DFS website

Planned link on MyFlorida.com website

Communications

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Additional Information

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LINKS

Vendor Portal• https://flvendor.myfloridacfo.com

3% Withholding Requirement• http://www.myfloridacfo.com/aadir/IRS3PercentWithhold

ing.htmMFMP• http://dms.myflorida.com/business_operations/state_pu

rchasing/myflorida_marketplace/mfmp_vendorsW-9 Information

• http://www.myfloridacfo.com/aadir/SubstituteFormW9.htm

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Contact Information

Vendor Management Section ◦[email protected]◦(850) 413-5519

MFMP Vendor Help◦[email protected] ◦1-866-352-3776

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