Tax information requirements for profit accounts

Required tax information

We’ll need the following to set up an account with our payment processor (Stripe), verify your identity, and enable payments:

• Your legal name and physical address (for verification purposes)
• Your date of birth
• Last 4 digits of your social security number (SSN) or social insurance number (SIN)
• Employment identification number (EIN) or business number (BN)
• Your tax classification

Stripe verification requirements

Our payment processing partner, Stripe, uses your tax information to verify your identity, mitigate fraud, and transact payments. 

Issues verifying your account often stem from a typo in your legal name or personal details. Double-check your information before submitting to avoid extra verification steps. You may also be asked to provide your full Social Security Number (SSN) or Social Insurance Number (SIN) to help prevent fraud.

If you have any questions about this page, please feel free to reach out to our Customer Support team.

Business type & tax classification

When setting up a profit account, you’ll need to select your business type to support the identity verification of the person and/or business entered. This information is also used to generate applicable tax forms (such as Form 1099-K or Form T4A), when eligible. 

Providing your tax identification (ID) number

All tax information entered is protected and securely encrypted, including the entry of tax IDs. If there’s trouble verifying the tax ID entered, we may request a formal document issued by the Internal Revenue Service (e.g., SS-4 or Letter 147c) or Canada Revenue Agency (e.g., articles of incorporation) to upload to Stripe directly and get your account verified.

Entering your financial address

The address entered here should match the address the Internal Revenue Service or Canada Revenue Agency has on file to prevent setting up your profit account and delays receiving tax forms (when eligible).

Accounts eligible to receive Form 1099-K (US accounts) will receive a physical copy that is mailed to the financial address you provide.

Canadian accounts meeting eligibility requirements to receive a T4A (Canadian accounts) can download the tax form from the Reports page once available. Physical copies of T4As aren’t mailed, but the address is listed on the digital copy of the form.

Updating or reviewing your tax information

To review or make changes to your tax information, visit the Payouts and tax tab on the Business financials page.

If your tax details can’t be verified by Stripe at any time, you’ll see a banner in your account and receive an email to alert you that your tax information must be resubmitted. Tax information must be verified within seven calendar days to avoid a temporary pause to payouts.

For more information about how to update your tax information, please see:

• US Dispensaries: Updating dispensary tax information, or
• Canadian dispensaries: Updating dispensary tax information