Purpose of a W-9 on an acquisition? Who should be filling them out?

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Usually get one from everyone who is receiving a payment at the closing. Essentially the buyer /payment agent / entity making the payments keeps them in the file as evidence that tax withholding from the payment was not required.

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The ein is on the w9 so if it’s changing he’d have to fill out a new one anyway

Sellers fill them out

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Borrowers fill them out

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Just shows that they are not a foreign corp so that withholding isn’t required. There are some presumptions that can apply to make them not necessary, but it’s always easier to just required them. It’s a five minute form to fill out. Foreign corps get the w-8 series (some of which can also exempt withholding).

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