Required Verification Information for Taxes
Learn what account information needs to be provided for your Connect accounts if you’d like Stripe to help you with U.S. federal 1099 tax reporting.
If your platform has U.S. federal 1099-K or 1099-MISC reporting requirements, you can use the tax_reporting_us_1099_misc and tax_reporting_us_1099_k capabilities to collect the necessary personal and business information from your users. This is in addition to the onboarding requirements for these connected accounts. Requesting the tax_reporting_us_1099_misc capability for a connected account does not mean you will file IRS FORM 1099-MISC. For example, you can choose to file IRS FORM 1099-K during tax season instead.
Form 1099-MISC
The table below lists the requirements for connected accounts with the tax_reporting_us_1099_misc capability that have a business_type of individual or company. individual is also used for sole proprietorships, and company can be used for LLCs and partnerships.
| Individual | Company |
|---|---|
individual.first_name |
company.name |
individual.last_name |
company.tax_id |
individual.id_number |
company.address |
individual.address |
Payouts become disabled if the required information is not collected by $600 USD in charges.
Form 1099-K
The table below lists the requirements for connected accounts with the tax_reporting_us_1099_k capability that have a business_type of individual or company. individual is also used for sole proprietorships, and company can be used for LLCs and partnerships.
| Individual | Company |
|---|---|
individual.first_name |
company.name |
individual.last_name |
company.tax_id |
individual.id_number |
company.address |
individual.address |
Payouts become disabled if the required information is not collected by $20K USD in charges.