PayPal Ask beneficial owner information

[cruiserdaddy]

Originally Posted by TN2016

Damn, so you still can't receive any payments even after submitting what they were asking for in regards to the beneficiary information? Or have they just not lifted the limit on your account as they said they would after the online submission of info?

Submitted info, said would take 24 hours to lift, been close to 48 hours and no updates. Still limited

[thready]

Originally Posted by yankee

Beneficiary request....

Ignoring the W9 will permanently kill your account.

Back in August, I submitted the W9 and it was accepted. Then about a week or 2 later, I ended up getting the beneficiary request. Was that the same for you?

I'll ignore the beneficiary request and hope for the best.

I also have two other accounts that paypal is asking for the same thing.

[thready]

Originally Posted by cruiserdaddy

Submitted info, said would take 24 hours to lift, been close to 48 hours and no updates. Still limited

I understand your issue and I hope you get your account reinstated.

[yankee]

Originally Posted by thready

Back in August, I submitted the W9 and it was accepted. Then about a week or 2 later, I ended up getting the beneficiary request. Was that the same for you?

I'll ignore the beneficiary request and hope for the best.

I also have two other accounts that paypal is asking for the same thing.

No... They asked for articles of incorporation well over a year ago on multiple accounts. At that point we can only withdraw funds similar to a regular personal account without supplying SS.

We received another request today actually. Now we have two flags instead of one lol

[yankee]

The easy solution is to opt into Managed Payments.

[thready]

Originally Posted by yankee

No... They asked for articles of incorporation well over a year ago on multiple accounts. At that point we can only withdraw funds similar to a regular personal account without supplying SS.

We received another request today actually. Now we have two flags instead of one lol

That’s very encouraging. Fingers cross that business continue as usual.

Did PayPal update the provide beneficiary info by date or it still shows old date?

[thready]

Originally Posted by yankee

The easy solution is to opt into Managed Payments.

I wish i had this option in my accounts. Checked but eBay said it’s not yet available.

[thready]

Originally Posted by agent006140

You are in US?
WONDER WHY EBAY said not yet available,as many have joined

Yes im in the US. When I checked, ebay says the account can join only if it was sent an invite link.

Did I miss something?

[stevesokol21]

Originally Posted by yankee

The easy solution is to opt into Managed Payments.

what type of info do they need to have to make everything legit? i have this option on my stealth accounts. both have their own EIN attached to them for paypal. should i put that down for ebay as well? or how does that work? thanks for your time. honestly, i appreciate this. i have t had issues with my accounts in over 5-6 years... thanks yankee!

[greatnonprofit]

Forgive me if I am not posting this in the correct area as I have never posted in a forum before. I received the following message as well just like many of you and I tried to provide them with the info but when I start and get to the second questions about what kind of business I am, there is on a button that says continue and then it boots me back to enter my name, it keeps me going in circles... anyone else have this issue? I cannot get thru to anyone at customer service as they want me to verify my SS# which is not associated with my account as I am a nonprofit and there is no one in the company that has any ownership of the nonprofit. I am so confused!

As we mentioned in an earlier email, we need to collect some information about your beneficial owners of your business because your card sales have increased. A beneficial owner is each person who, directly or indirectly, holds 25% or more equity ownership of your business, or a person who has a controlling influence in your business.

Please provide this information by January 11, 2020. If we don’t receive it by then, we'll need to limit your account, and you won’t be able to receive payments.

[Steelhead56]

I thought I would join in. Pay Pal requested the beneficial ownership information from me and the deadline was January 11th, 2020. They stated if not complied with I could no longer receive payments. This is a stealth account and was not sure what to do. So I waited. Shortly after the first of the year the alert disappeared from my summery page. Then the 11th came and went with no action. I am still up and running. Not sure what will happen next. I heard , on this blog, after the first of the year this request would reset and go away. It did.

[agent006140]

The reset is the 200 transactions and $20k.

[Steelhead56]

I had over 2000 transactions and 80k in sales

[agent006140]

I mean 200 transactions and $20k triggers 1099K for individuals.
dont know how you incorporated your business,you need to ask your lawyer or accountant or someone can chime in

[IdoDropshipping]

Just got my account limited today, this has been an issue for more than 8 months, why are there no posts about it?