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Default 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
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Default Re: Beneficial Owner

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

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

how many transactions?
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Default 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.
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Default Re: Beneficial Owner

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

Over 2500 transactions.
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Default Re: Beneficial Owner

Quote:
Originally Posted by Steelhead56 View Post
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?
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Default Re: Beneficial Owner

Quote:
Originally Posted by yankee View Post
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
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Default Re: Beneficial Owner

I had 900 transactions in 2018
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Default Re: Beneficial Owner

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

Quote:
Originally Posted by Steelhead56 View Post
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?
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  #13  
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Default Re: Beneficial Owner

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

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

Quote:
Originally Posted by SaiJin View Post
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.
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