Notification for my SS# and i need to upgrade account

[gibsonton]

Was Notified by Paypal yesterday when i logged in that i have untill Jan 1st to Provide my SS# or FEI # and be Verified and also i have to upgrade to Business account ...my account is almost 11 years old so maybe newer accounts can escape it for awhile .

[Hercules]

Originally Posted by gibsonton

Was Notified by Paypal yesterday when i logged in that i have untill Jan 1st to Provide my SS# or FEI # and be Verified and also i have to upgrade to Business account ...my account is almost 11 years old so maybe newer accounts can escape it for awhile .

what is a FEI number?

[cardfelon]

FEI = Federal Employer Indentification number . Sometimes referred to as a EIN # also. You get it from the IRS

[gibsonton]

Just called them ..everyone will need to provide it ..here is some of the questions on PAYPAL WEBSITE for the 6050W

Will All Merchants Receive 1099s?
No. Only merchants who receive over $20,000 in gross payment volume AND receive 200 or more payments in a calendar year will receive Form 1099-K electronically or by mail

What happens if I don’t verify my identity?
If you do not verify your identity, a restriction will be placed on your account until you do so. You will be unable to send, receive or withdraw funds from your account until you verify your identity

[shogun1]

this is where im confused,i read on another post by aspkin himself that this doesnt start until jan 1 2011,so why would they need this before you reach this threshold in 2011?

this wasnt supposed to have anything to do with 2010 from what i read