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Last modified: July 11, 2024

Tax information requirements to set up a profit account

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


You can review and update your tax information from the Business financials page in your account.

Stripe verification requirements

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

Often, trouble verifying an account stem from an entry error of your legal name or personal information. Ensure your information is correct before submitting to avoid additional verification steps on your account. A full SSN/SIN may also be requested at random as part of their efforts and responsibility to reduce fraudulent marketplace activity. 

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


Payouts can’t be enabled or may be disabled if tax information is missing from your account or if too many failed payout attempts have occurred. If a payout has failed, please visit the Payouts and tax tab on the Business financials page to review and correct the information provided.

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. 


Entry errors can lead to delays in verifying your account. Ensure the spelling of all legal names matches exactly with what the Internal Revenue Service or Canada Revenue Agency has on file.

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 to update and/or verify your tax information.

If your tax details can’t be verified by Stripe at any time, we’ll launch a banner in your account and email you directly to alert you that your tax information must be resubmitted. Tax information must be successfully verified within seven calendar days to avoid a temporary pause to payout deposits or to restore paused payouts

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

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