Just got this email.... Ebay Managed payments

[HurricaneHuntr]

Dear Seller:

Our records indicate you have been previously invited to managed payments - eBay’s simplified seller experience to sell and get paid. Based on our review of your account, the features and tools you use on eBay are fully compatible with managed payments. To benefit from the new payments experience early, register at ebay.com/paymentsregistration. All eBay sellers will progressively be required to transition to managed payments in the coming months.

Managed payments offers more ways for buyers to pay with credit, debit and gift cards, Apple Pay, Google Pay, PayPal and PayPal Credit. Payouts will be automatically deposited to your bank account. Sellers receive consolidated reports, simplified seller protections, one monthly bill for all fees, and access to dedicated customer support. New features include a single unique number from order initiation to payout, and the ability to issue partial or full refunds to buyers, directly on eBay or via a third-party platform. Sellers who have already joined report high satisfaction and recommend managed payments to other sellers. To learn more about managed payments, visit ebay.com/payments.

Signing up now will allow you to choose the best time to join for your business, and avail of any existing promotions. These include the Summer Sign Up program available till August 31, 2019 and the $0 per listing payments fee through September 30, 2019. Please check your email account or Messages on My eBay for more details.

Register for managed payments at ebay.com/paymentsregistration.


>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Stealth may be dead by christmas.

Are we having fun yet?

[vigilantex69]

So this will be the end of all stealth accounts??? There has to be a way around it??

[HurricaneHuntr]

Originally Posted by vigilantex69

So this will be the end of all stealth accounts??? There has to be a way around it??

I can't see how to get around it if they are aski g for the Ssn as well as EIN. Someone said they asked for that. Which makes even having multiple llcs difficult. Still early. Gotta get more info.

[ebaystealth1974]

I'm betting years before it's dead. Not months.

[HurricaneHuntr]

Originally Posted by phaz0rz

I'm betting months, at least on the USA side. By mid-2020 I'll bet it becomes mandatory. I got the email too and they seem pretty adamant about rushing this along. Nothing about what they're saying to US sellers now indicates that we still have several years to make the transition. They want us all in right now, honestly.

Still remains to be seen if your type of business makes a difference regarding what eBay asks for during registration. If you're using a corporation or multi-member LLC where there are (by definition) multiple members, I don't see why they would ask for EIN + SSN. It's more likely they're only asking for EIN's for those types of entities, but I don't have any multi member companies so I'm not able to test it out.

For now I'm just sitting pretty with the account I've got in (with my SSN) and I'm a little trigger shy on the rest of my accounts that have been invited in.

Worst case scenario - in the next couple years I'll go back to focusing all my time and energy on one big account instead of a handful of smaller ones. It would suck to do that but if it becomes the only way then so be it.

The worst case Scenario is what we're facing whether we want to admit it or not. "Stealth" as we know it, is going away. If they can see who owns the EIN and why can't they? You can google any EIN and get the information on it. I was selling on another service and i have to use my real business name.... i had a customer who wanted to return stuff after a return deadline, literally find my business on the state corp website and send letters to all addresses listed. If a CRAZY customer can find it, eBay can too. And then it only takes 1+1 to link them all together.

Unlike SS.N's MOST E.I.N's are public. And very trackable, try signing up for groupon marketplace with a E.iN and business name that doesn't match, it doesn't work... when i was converting over to the new system... i tried and tried. Not possible. Because of that, i am dealing with some C&D crap.

[HurricaneHuntr]

Originally Posted by iamlmfao

Conclusion = usa is trash.

Just wait until the democrats get in office... we're royally screwed...

[Leader2dark]

Originally Posted by ebaystealth1974

I'm betting years before it's dead. Not months.

I really don't think we have years based on the messages they are sending out.

Once they start requiring a few people, it will only be a short time before they move everyone.

[ebaystealth1974]

Originally Posted by me

I'm betting years before it's dead. Not months.

Originally Posted by phaz0rz

I'm betting months,

If futballplayer sees this, he'll want in on the action lol

[ebaystealth1974]

Originally Posted by iamlmfao

Conclusion = usa is trash.

I've been waiting for a similar post from you for a while now

[renzini]

I spoke last night with an eBay rep and she told me that eBay will ask for business EIN only if the shareholder doesn’t own 100% of the business. This means that if in your business there are more than one shareholder you will be good to add only the EIN. In my case I’m the only one shareholder that own 100%. eBay rep said that in my case IRS require my SS or ITIN Number.

I will not going to give my SS to eBay so I think I have to see the possibility to add more owners to my Corp and see is this work.

Info about this will be really appreciated

[ebaystealth1974]

Originally Posted by renzini

eBay rep said that in my case IRS require my SS or ITIN Number.

I would have said, "BIITCH, the IRS already HAS my ssn! Nice try, though.".

[james13v]

Originally Posted by iamlmfao

Conclusion = usa is trash.

lol. ooooh canadaaa

[renzini]

What is going to happen with all the Chinese sellers that drop ship from US?

I think eBay main sellers are them.

[james13v]

Originally Posted by Leader2dark

I really don't think we have years based on the messages they are sending out.

Once they start requiring a few people, it will only be a short time before they move everyone.

who. who have they required?

[renzini]

Originally Posted by james13v

lol. ooooh canadaaa

I’m moving to Canada next month lol

[HurricaneHuntr]

Originally Posted by phaz0rz

Thanks - that's confirmation of what I suspected.

I don't know if you'd be able to convert an existing single member LLC to a multi member LLC (or corp or whatever you have) since they are way different. I could be wrong. But it wouldn't be that hard to setup a new one with your wife as 10% owner or whatever. It would be a little more hassle at tax time because you'd have to divide up profits accordingly (and a little more extra paperwork) but if it's the only way, it's worth it.

Perhaps i am not understanding, if they don't require a SSN with the multi member LLC or corp. How does that work for 10-20 accounts?

You can still only have 1 EIN for 1 llc/corp/ right?

So are people really going to setup 20 multi member llc's ?

However, if you own multiple businesses that are not inter-related, you can apply for multiple EIN numbers – one per business entity.

[james13v]

Originally Posted by Moscutter

Perhaps i am not understanding, if they don't require a SSN with the multi member LLC or corp. How does that work for 10-20 accounts?

You can still only have 1 EIN for 1 llc/corp/ right?

So are people really going to setup 20 multi member llc's ?

yes. Yes they would.

[HurricaneHuntr]

Originally Posted by james13v

yes. Yes they would.

I don't believe that. There is too much risk involved with accounts going down. Too much paper work and too much money in accountant fee's.

Pay quarterly sales tax for each of the 20 llc's.. what if one only does like 3-5k for the quarter?

Pay state taxes for unemployment etc..
Pay federal estimated taxes for the LLC, as well as payroll for each member of each LLC. Monthly....
File a quarterly report for each of the 20 companies.

You just increased your likelihood of an audit by 20x. You will need to keep separate quickbook files for each company, importing sales to that specific company each and every day, while requiring 20 business accounts. Additionally with each business account if you're not pulling in enough income, most business accounts have a Minimum to not get charged fees of 5k balance.

That's just that part. Now, pay the bookeeper(who now, knows your business) to keep track of it all, pay the accountant to do all the paperwork, and finally ship out your items each day.

I don't know about many people here, but i ship about 50-80 items if i am lucky in a day and that's currently with 40 accounts or so. Stealth's premise was to spread out your sales, that's what i do. I do have a few big hitter accounts which are where a lot of sales come from, while a lot of those 40+ haven't sold an item in a week.

I don't see myself making 40 multi-member llc's.

Quarterly reports for my 1 s corp cost me $125 a quarter now.... even at 20x125 that's over 2200+ in accountant fees QUARTERLY. Let alone a more complex situation which has multi members in the LLC.


I am negative by nature, but i just don't see the solution. But, perhaps we'll get a clearer picture. Sadly the scammers this doesn't effect, they just churn and burn stolen stuff.

[ebaystealth1974]

Then don't do it.

Meanwhile several members here sell more than you do on 1 account. With MUCH less work.

You gotta change your mindset.

[agent006140]

Originally Posted by renzini

What is going to happen with all the Chinese sellers that drop ship from US?

I think eBay main sellers are them.

if they open their Ebay account in China,they dont pay US income tax,but they are obliged to collect state sales tax which Ebay will do for them and remit to the states.

[HurricaneHuntr]

Originally Posted by ebaystealth1974

Then don't do it.

Meanwhile several members here sell more than you do on 1 account. With MUCH less work.

You gotta change your mindset.

It is what it is. The entire point of this forum is to be stealth. There is no more stealth.

Can we all at least agree on that ? Stealth means ebay doesn't know who you are.... But, now they will.

[ebaystealth1974]

Originally Posted by Moscutter

There is no more stealth.

Can we all at least agree on that ?

No, we can't.