This is from the website.
From amazons website. So If the law is 20,000 and 200 transactions
and amazon says 50 transactions then something is brewing.
I bet even with 50 transactions the sellers will NOT get one single transfer of funds!!! figure it out.
***Will you file Form 1099-K for my seller account if I only exceed one of the two thresholds?
No. Unless you exceed both thresholds ($20,000 in gross sales and 200 transactions) we will not file Form 1099-K for you.
****I am not going to come even close to hitting the reporting threshold. Why does Amazon require my TIN?
It is Amazon's policy for Amazon.com sellers that exceed 50 transactions in a calendar year, regardless of sales volume, to provide taxpayer identification information to Amazon.
****Do the new regulations apply to all Amazon sellers?
Yes, however at this time only sellers that exceed 50 transactions in a calendar year, regardless of sales volume, will be required to provide taxpayer identification information to Amazon.
****
Do these new regulations apply to non-profit organizations?
Yes, these regulations apply to both non-profit and for-profit organizations and entities.
****** Getting Paid
When you list an item for the first time on Amazon.com, you will be required to register to receive your sales proceeds through our Marketplace Payments by Amazon service. You will need to provide:
valid credit card information for verification and billing purposes (see Credit Card Information for Your Seller Account).
valid information regarding the bank account to which funds will be disbursed to you (see Entering Your Bank Account Information).
After a sale occurs and you have sent Amazon confirmation that the order has been shipped, Amazon processes the payment from the buyer and credits your net proceeds from the sale to your Marketplace Payments account. Keep in mind that refunds to buyers, selling fees, and other transactions are debited against amounts credited to your account from sales. The funds in your Marketplace Payments account will automatically be disbursed every 14 days to your bank account. You may also request more frequent disbursements, up to once every 24 hours. For more information, see Transferring Funds to Your Bank Account.
To receive funds through Marketplace Payments, you must have a US, UK, French, German or Austrian bank account. There are no exceptions to this policy. Disbursements will be made in US Dollars to a US checking account, British Pounds to a UK bank account, or Euros to a French, German or Austrian bank account. See Amazon Currency ConverterTM for Sellers - FAQ for more information about receiving payment for sales in your local currency.
If you're a new seller, there is an initial 14-day holding period before funds will be released from your Marketplace Payments account. This holding period is an important security requirement and you will not be able to disburse funds to your bank account during this time. Once you have received your first automatic disbursement, you will be eligible to request more frequent disbursements from your Marketplace Payments account. Below is the general timeline for the first disbursement for a new seller. See our New Seller Getting Paid FAQ for additional information.
So wtf???What is with the bs they are pulling 21 days then a rolling reserve. I guess they hid that part well into the site...!!!
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