Hey there! Today we’re going to go through how to get an ITIN for PayPal
This is Bryan Jay and I’m an ITIN specialist here at Jumpstart Filings
I’m an IRS Certified Acceptance Agent (CAA) and i’ve been trained and authorized to help foreigners, without a social security number (SSN), successfully get their EINs and ITINs.
We’ve helped over 1,500 non-US citizens in getting their EINs and ITINs and we’d love to assist and help you get yours too.
Today we are going to discuss some important topics for non-US citizens who are foreign entrepreneurs.
I am breaking this post down into two parts.
The first area that I want to touch on is based on my experience with a lot of our clients and people who have reached out to me over email.
For example, let’s say there is a foreign entrepreneur who is a non-US citizen. They have a business registered in the US so they are able to open a business merchant account and start collecting payments…
But eventually Paypal puts a pause or freeze on their account and requests them for an ITIN in order to make their account work again.
This has happened to countless foreign entrepreneurs who I have talked with. The reason why Paypal is doing this to people could be because once a client hits a certain amount of money in their account PayPal has to report this for tax purposes to the IRS. When that happens, PayPal must get an ITIN from the client so that they stay compliant with the IRS standards.
PayPal will not unlock or unfreeze these merchant accounts unless they get the ITIN that they requested from the client.
This does not happen to every foreign entrepreneur with a PayPal account, but over the past year I have seen more cases of it than ever before.
At Jumpstart, we always want to make sure that our clients cover all the bases and get their ITIN so that they can comply with the requirements and don’t get their PayPal account disabled.
This brings me to the second area, getting an ITIN to comply with PayPal. When opening a merchant account on PayPal they require many different things.
For foreign business entrepreneurs, they require business documentation and EIN (Employer Identification Number - tax ID for business). They also require you to have an ITIN as well.
And that’s not all, PayPal may request additional information and documentation beyond what is listed above.
We always urge our clients at Jumpstart to reach out to PayPal’s customer support team and get all the information and documentation that is needed to open up their merchant account so they can make sure that they aren’t missing anything.
We have heard rumors from some people that PayPal doesn’t accept the ITIN. This is not true. Some people have reported that they only ask for a SSN and not an ITIN, but that was in the past. Things have changed now and we know for a fact that PayPal does accept ITIN.
If you want to know how to use your ITIN in place of SSN, Please reach us at Jumpstartfilings.com We have a remarkable support team who can provide you the steps on how you can use your ITIN in place of the SSN requirement.
I hope that this article was helpful for a lot of you out there. I have worked with hundreds of foreign entrepreneurs and I know how difficult and complicated it is to get through these problems.
If you ever have any questions or are looking for a place to get started, please go ahead and reach out to us over chat or email.
Don’t hesitate to reach out about anything and when you are ready to start your ITIN application, go ahead and click the link below as well.
I look forward to working with you!
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