> For the complete documentation index, see [llms.txt](https://bagelpay.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bagelpay.gitbook.io/docs/documentation/compliance-and-verification/payout-setup/payout-compliance.md). # Payout Compliance This document outlines the necessary information and documents required for Bagel Payments to process payouts. The requirements vary based on business registration status, type of business, and geographical location. *** ## **Required Documents for Registered Businesses** | Document Name | Description | | ------------------------------- | ----------------------------------------------------------- | | Tax Identification Number (TIN) | TIN or equivalent tax registration number for the business. | | DBA Name | ”Doing Business As” name as it appears on bank statements. | ## **Required Documents for** Unregistered Businesses For unregistered businesses, Bagel Payments requires the following information. | Document Name | Description | | ------------- | ------------------------------------------------------------------------------ | | Nationality | Country of citizenship of the individual or entity owner. | | DBA Name | ”Doing Business As” name as it appears on bank statements. | | Address | Complete address including **Street, City, State, and Zip Code** as per proof. | *** ## Key Stakeholders Information Bagel Payments requires detailed information for each key stakeholder associated with the business. Each stakeholder must provide their **Government Approved ID** as part of compliance requirements. We accept documentation for up to 4 Key Stakeholders. If you have more than 4 key stakeholders please share the documentation with us by email. ### Who is a Key Stakeholder? The following can be Key Stakeholders in the company: #### **Beneficial Owner(s)** The beneficial owner is any natural person who, whether acting alone or together, or through other companies, or legal persons, owns or is entitled to 25% or more of the shares or capital or profits of the connected user, or who exercises control over the connected user through other means, including enjoying the right to appoint the majority of its directors or to control its management or policy decisions through shareholding or management rights or through shareholders agreements or voting agreements. If the connected user has more than 1 beneficial owner, please provide us with the requisite documents for all. #### **Business Director(s)** Individuals appointed and currently serving as directors on the board of directors for the connected user in accordance with company laws. Please provide us with the ID or Passport of all Directors. #### **Business Representative** Employee or director of the connected user authorized to act on its behalf in relation to the use of Bagel Payments services. #### **Co-Founders** If the business is not registered, please provide documentation of all the cofounders associated with the company who will own a majority share (more than 25%) or become directors in the company going forward post registration. This can be updated post registration if any changes are made. *** ## Tax Forms ### For U.S. Citizens U.S. citizens, regardless of their merchant type, are required to submit the **W-9 Form**. This form is used to report taxpayer identification information to the IRS. **Required Tax Form for U.S. Citizens** | Citizenship Status | Merchant Type | Required Form | Description | | ------------------ | --------------------- | ------------- | ----------------------------------------------- | | **U.S. Citizen** | Individual & Business | W-9 | IRS form for reporting taxpayer identification. | * **Instructions**: U.S. citizens should download, complete, and upload the signed W-9 form with all details clearly visible. * **Download Link**: *** #### For Non-U.S. Citizens Non-U.S. citizens must submit different forms based on their merchant type, specifically whether they are an individual or a registered business entity. **Non-U.S. Citizens - Individual** Non-U.S. individual merchants are required to submit the **W-8BEN Form**. This form is used to report information to the IRS and claim benefits under an applicable tax treaty. **Required Tax Form for Non-U.S. Individuals:** | Citizenship Status | Merchant Type | Required Form | Description | | -------------------- | ------------- | ------------- | --------------------------------------------------------------- | | **Non-U.S. Citizen** | Individual | W-8BEN | IRS form for non-U.S. individuals to claim tax treaty benefits. | * **Instructions**: Non-U.S. individuals should download, complete, and upload the signed W-8BEN form with all details clearly visible. * **Download Link**: **Non-U.S. Citizens - Business Entities** Non-U.S. business entities are required to submit the **W-8BEN-E Form**. This form is used by foreign entities to claim foreign status and, if applicable, a reduced rate of withholding under an income tax treaty. **Required Tax Form for Non-U.S. Business Entities:** | Citizenship Status | Merchant Type | Required Form | Description | | -------------------- | --------------- | ------------- | ---------------------------------------------------------------------------- | | **Non-U.S. Citizen** | Business Entity | W-8BEN-E | IRS form for non-U.S. entities to claim tax treaty benefits (if applicable). | * **Instructions**: Non-U.S. business entities should download, complete, and upload the signed W-8BEN-E form with all details clearly visible. * **Download Link**: