TE W-9
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Completed W-9 forms do not expire
After they are completed, your vendors' W-9 forms do not expire. However, the IRS requires them to be replaced when specific information is changed, including changes in names, type of business entity, or a taxpayer ID number.
Since none of Tuition Exchange's specific information has changed, it is not necessary to collect a new W-9 form each year. However, if your institution needs a copy of the current TE W-9 form, please click here
Do I need to request a new W-9 every year?
From a practical standpoint, it's not a bad idea to ask vendors to complete a new Form W-9 for your records each year to assure that the information you have is accurate; however, this is not necessary, and most small businesses do not do so.
Do Completed W-9 Forms Expire?
After they are completed, your vendors', freelancers' and contractors' W-9 forms do not expire. However, the IRS requires them to be replaced when specific information is changed, including changes in names, type of business entity or a taxpayer ID number.
Although not required by the IRS, your business can request updated W-9 forms for the purpose of maintaining accurate records of your service providers.
When do I have to fill out an updated blank W-9?
There are several requirements in the document instructions that answer the question. They state you have to furnish a new IRS updated W-9 form to the requester in such situations:
- Your backup withholding status has changed.
- You’ve selected a new entity type for your business.
- Your TIN or name change.
- You have got a different citizenship status.