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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 117405
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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We contract service a company that does Automated Funds

Customer Question

We contract service a company that does Automated Funds Transfers for us.
The bank account is in their name. Now their bank is wanting our contract service to produce a W9. Can they do this?
Submitted: 1 year ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Actually, since they are processing payments for the service and have money going in and out, they are actually entitled to have a W-9 so they can show the money is legitimate business expenses and not income being hidden by their company. Anytime businesses do business with another business, they can get the W-9 to show that the funds are not income to them but are being sent out or processed for someone else.