I work for a corporation.

Do I need to send W9's out every year to vendors who we paid over $600 to?

I have never done this, unless they are a new vendor and I do not have their SS# or TIN on file.

Yes, unless the vendor is also a corporation.

The Form W-9's purpose is to legally solicit the TIN or SS number of the vendor.

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Originally Posted by AtlantaTaxExpert

Yes, unless the vendor is also a corporation.

The Form W-9's purpose is to legally solicit the TIN or SS number of the vendor.

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I'm sorry, I guess my question was pretty generic. What I meant to ask was if I have a TIN or SS # on file for a client/vendor, do I still need to send them a W-9 every year to get that information?

I wanted to thank you for your quick reply last time!

I would say yes, just to be safe. They may not have registered for a TIN #.

Certain suppliers contact me on an annual basis while others go 2-3 years without asking for an update.

I advise that you issue the W-9 EVERY year to EVERY vendor.

It is the IRS-sanctioned legal document to solicit SSNs and EINs, and it must be submitted back to you by the vendors under penalty of law.

It protects you in the event the IRS comes looking for a reason to penalize YOU for failing to properly report the money you spent.

What if you pay the vendor on a credit card? Do you still need to obtain a W-9 for the vendor, not the credit card company but the company that actually performed the work.

Does not matter how you pay them; the W-9 is still needed.