Has anybody reached 20K and received the letter from paypal ?

[EBAYPLAYA]

Has anybody reached 20K and received the letter from paypal ?
what will be the next step ?
Are there any ways to get around it without providing my real name and ssn# ?

[TGMT²]

To my knowledge a couple members have received the letter at around the $13,000 mark and have been asked to provide their SS# so that their PayPal services will not be interrupted.

There is no way around it, by law PayPal has to do this with all U.S. accounts.

[jeffweico]

PayPal requested mine at just over $12,500.
Half.com at $5,000.
Amazon has not asked, but states that EVERYONE will need to provide this regardless of volume.

[EBAYPLAYA]

So can we get away with just providing EIN number ?
What are we suppose to do ?

[EBAYPLAYA]

name on the account will not match the ssn#...
now what ?

[Here We Go Again]

I hit it back in January.
Had to provide my SSN or they would LOCK my account.
So I gave them my SSN.
I have had absolutely no issues since.

[EBAYPLAYA]

Hi,
Did you have an option between EIN and SSN ?
Or was it just SSN that they were asking for ?

[yappering]

Can't you just give it at 20k?

[EBAYPLAYA]

give it at 20k ?

[jeffweico]

yappering, just an FYI... The SSN thing does not apply to UK sellers. Only to US sellers. So, you should be fine.

As for just giving it at $20k, no, that will not work. They have to get it BEFORE you hit that mark. Why? Because if you somehow went OVER and the SSN is not on file, then the IRS will come down on the payment processor with fines and penalties. The payment processors MUST be able to show the IRS that they made a good faith effort to comply with and enforce the rules. If they cannot do that, they would be in deep trouble.

When they ask for it, they wll probably give you a little time to provide it, but that will be up to each processor. I have no idea how long they will give you. But I'm sure that if you don't do it right away, you would eventually get a warning email stating that they need it by such-and-such a date or else you are suspended.

[mh2k5]

So plan on getting suspended or do you proivde it? a little confused from reading the posts

[EBAYPLAYA]

now the question is are they asking for ssn or ein ?
or either one ?

[nak]

Yes god question if they will let u give an ein you could just signup for an llc real quick and give them that and never be linked

[EBAYPLAYA]

correct... thats why im asking what exactly are they asking for ?

[cherrqell]

Originally Posted by jeffweico

PayPal requested mine at just over $12,500.
Half.com at $5,000.
Amazon has not asked, but states that EVERYONE will need to provide this regardless of volume.

Where did you find the Amazon information. Haven't seen that yet.

[GreenBean]

Originally Posted by EBAYPLAYA

now the question is are they asking for ssn or ein ?
or either one ?

Should a paypal account user have an EIN, that info is requested AT FIRST.
More often than not paypal accepts that. But we are aware that paypal has attempted to get an SSN even with the LLC/EIN being available.

It's not insurmountable however

[rsot]

Canada eb ay account just got hit with some kind of ID check for hitting 20k

[EBAYPLAYA]

hello again all,
so when we provide ssn or ein, do we have to use our real names ?
paypal needs some proof to change the name on the account (such as electric bill and phone bill with name and address on it)

[KingRay]

If you use the SSN you will need your name as its on your ssn card. IF you gowith say an LLC and give them the EIN you will just give the name of the business entity. They may ask for the person that manages the LLC but that is all. It can be a fictitious name that is listed with several others on your LLC paperwork. When you register your LLC you can put say yours, wifes, and a couple random names and when paypal asks for a specific name for their records just give them one of the random names and use that for your paypal account. I dont see how this would not work just fine. The purpose of the LLC is to remove your personal SSN and credit from your business.