W9 WEBSITE INFORMATION Department of Financial Services Division

W-9 WEBSITE INFORMATION Department of Financial Services Division of Accounting & Auditing 1

§ Overview üLegal Basis üImpact § § Website Overview Taxpayer Authentication Communication Plan Additional Information üLinks üContact Information üQ & A 2

Substitute Form W-9 3

Public Law 109 -222, Section 511, Tax Increase Prevention and Reconciliation Act (TIPRA) of 2005 • • Created Section 3402(t) I. R. C. 3% withholding law Effective January 1, 2012 Requires governments to withhold 3 percent on individual payments for goods and services of $10, 000 or more 4

Internal Revenue Code (I. R. C. ) Section 6109 Identifying Numbers Public Law 111 -148, “Patient Protection and Affordable Care Act” • Requires vendors to provide their correct Taxpayer Identification Number (TIN) to Department of Financial Services (DFS) who must file information returns with the IRS to report certain payments • Healthcare Reform Bill • Passed by Congress • Eliminates corporate exemptions from 1099 reporting 5

Impact � State must obtain Substitute Form W-9 for all vendors (over 200, 000 vendors) ◦ Automate the submission of Substitute Form W-9 � Vendors will need to submit a valid Substitute Form W-9 to State of Florida ◦ Prior to first order or purchase � Business Designation section will expand to align with requirements of 3 percent withholding and draft regulations � IRS TIN matching will be used for validation 6

W-9 Website Overview 7

W-9 Website Launch Date: March 8

Once registered, vendors can sign on to the W-9 Website Training on how to access and complete forms is offered through this link Select any of these options for additional information Click here to access “Profile Registration” screen 9

�For details on registration and submission of the Substitute Form W-9, please view the presentation at the following link: �http: //www. myfloridacfo. com/aadir/docs/Sub stitute. Form. W 9 Workshop. pdf 10

Taxpayer Authentication 11

� State of Florida participates in IRS TIN Matching Program ◦ Nightly load of all of the Substitute Form W-9 adds or name changes will check the TIN against the IRS Name/TIN combination contained in the IRS database � Vendor will receive one of three responses via email 1. IRS Name and TIN combination match IRS records and vendor 2. 3. account will be activated TIN submitted has not been issued to any entity therefore it is invalid IRS Name and TIN combination does not match IRS records � Status will appear on W-9 Main Menu � Status may be checked in Statewide Vendor File 12

Communication Plan 13

� Webinars for State ◦ February 24, 2011 ◦ March 17, 2011 ◦ March 24, 2011 � Message of Florida Vendors on Warrant and EFT Remittances � Notification and link on My. Florida. Market. Place (MFMP) website � DFS Flyer � Messages � Planned and links on DFS website link on My. Florida. com website 14

Additional Information 15

Vendor Portal • https: //flvendor. myfloridacfo. com 3% Withholding Requirement • http: //www. myfloridacfo. com/aadir/IRS 3 Percent. Withho lding. htm MFMP • http: //dms. myflorida. com/business_operations/state_p urchasing/myflorida_marketplace/mfmp_vendors • http: //www. myfloridacfo. com/aadir/Substitute. Form. W 9. W-9 Information htm 16

�Vendor Management Section ◦ FLW 9@myfloridacfo. com ◦ (850) 413 -5519 �MFMP Vendor Help ◦ Vendor. Help@My. Florida. Market. Place. com ◦ 1 -866 -352 -3776 17

18