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-   -   Beneficial Owner (https://www.aspkin.com/forums/paypal-talk/131783-beneficial-owner.html)

Steelhead56 12-02-2019 07:48 PM

Beneficial Owner
 
I have stealth Pay Pal account. It is a business account. It is not in my name and now Pay Pal is asking for "beneficial ownership" information which I cannot provide or they will shut down the account. I am not sure what to do at this point. Please help

SaiJin 12-02-2019 08:31 PM

Re: Beneficial Owner
 
Just wondering, did you go over the $20k/year treshold?

Steelhead56 12-02-2019 08:39 PM

Re: Beneficial Owner
 
I did. 2018 I did $45,000 and this year I have done $33,000

agent006140 12-02-2019 10:14 PM

Re: Beneficial Owner
 
how many transactions?

yankee 12-02-2019 11:36 PM

Re: Beneficial Owner
 
It is pretty new BUT some of us have had this request for a long time now and have just ignored it with the only downfall being you can only withdraw the funds.

Other people claim to have been limited. That has not been my experience or anyone I personally know or chat with here and other similar places.

And....you would be mistaken to believe if you give them your details you would be shut down. That must be the number 2 miss-truth in this forum.

rsot 12-03-2019 03:36 AM

Re: Beneficial Owner
 
Welcome to the forum OP - all the best as you master stealth :thumb:

Steelhead56 12-03-2019 08:53 AM

Re: Beneficial Owner
 
Over 2500 transactions.

agent006140 12-03-2019 08:58 AM

Re: Beneficial Owner
 
Quote:

Originally Posted by Steelhead56 (Post 1052763)
Over 2500 transactions.

2019,2500 transactions and $33K?
why does it take so long for PAYPAL to ask for beneficial owner ?
how many transactions did you do last year 2018?

agent006140 12-03-2019 09:03 AM

Re: Beneficial Owner
 
Quote:

Originally Posted by yankee (Post 1052718)
It is pretty new BUT some of us have had this request for a long time now and have just ignored it with the only downfall being you can only withdraw the funds.

Other people claim to have been limited. That has not been my experience or anyone I personally know or chat with here and other similar places.

And....you would be mistaken to believe if you give them your details you would be shut down. That must be the number 2 miss-truth in this forum.

----------------------------------------------------------------

yes,I know some cases ,the accounts were limited,but there could be other reasons involved.
yes,if you give them details,your account could be shut down if they link your account with other account based on the information you give them.
Paypal never delete any account,closed or open,suspended,limited or active

Steelhead56 12-03-2019 09:50 AM

Re: Beneficial Owner
 
I had 900 transactions in 2018

agent006140 12-03-2019 11:02 AM

Re: Beneficial Owner
 
200 transactions AND $20K ,PAYPAL WILL send 1099k to you and IRS.

agent006140 12-03-2019 11:04 AM

Re: Beneficial Owner
 
Quote:

Originally Posted by Steelhead56 (Post 1052708)
I have stealth Pay Pal account. It is a business account. It is not in my name and now Pay Pal is asking for "beneficial ownership" information which I cannot provide or they will shut down the account. I am not sure what to do at this point. Please help

SO IT IS A BUSINESS ?
Is it LLC?

Steelhead56 12-03-2019 11:14 AM

Re: Beneficial Owner
 
I am going to incorporate this week as a LLC

Steelhead56 12-03-2019 12:36 PM

Re: Beneficial Owner
 
My old E bay account was closed by E bay. The Pay Pal account associated was not closed. I opened a stealth account along with a stealth Pay Pal account. My question is, if I supply Pay Pal my SS number will they tie my ole E Bay account to that number and close me my new Pay Pal account along with my new E bay account.

SaiJin 12-03-2019 01:25 PM

Re: Beneficial Owner
 
if you used your SSN before on another account then yes, they'll link you in a heartbeat.

yankee 12-08-2019 10:19 AM

Re: Beneficial Owner
 
Quote:

Originally Posted by SaiJin (Post 1052812)
if you used your SSN before on another account then yes, they'll link you in a heartbeat.

I dont think you have any experience here as far as Managed Payments, Etsy Payments or Paypal LLCs and SSs used with EINs. Or at least, not more than one in the USA.

thready 12-26-2019 04:36 PM

Re: Beneficial Owner
 
Op, did you send money out from this account or only received money and transferred it to your bank account?

Frodo 12-28-2019 10:01 AM

Re: Beneficial Owner
 
Quote:

Originally Posted by Steelhead56 (Post 1052807)
My old E bay account was closed by E bay. The Pay Pal account associated was not closed. I opened a stealth account along with a stealth Pay Pal account. My question is, if I supply Pay Pal my SS number will they tie my ole E Bay account to that number and close me my new Pay Pal account along with my new E bay account.

My old real ebay account was vero suspended. I left it as is for a few years and then opened a real account with the same info (name, address) and the same paypal, just for experiment. the only difference this time used new ip and phone. I was never linked. I wonder if it depends how long ago your account was suspended.


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