Please note that Indiegogo cannot provide tax advice or guidance. We ask that any questions be directed to your tax accountant or the local tax authorities.
My campaign has received a notice that I need to fill out a tax form. What does that mean?
If your campaign has raised at least $600, you will receive a notice that you are required to fill out additional information for a tax form. Before January 1, 2023, the threshold was at least $20,000 and 200 or more backers. The United States Internal Revenue Service requires us to file 1099-K forms for eligible Campaign Owners.
Please complete the information via your Connect Onboarding form. Please make sure that the form is complete and correct.
Please follow the instructions below to access your Connect Onboarding form.
- Log into your account.
- Go into your campaign and click on the Funding tab.
- Scroll down to the section called “Funds Recipient Verification” where you will see the status is “Not Verified”.
- Click on “Verify Your ID” and you will be redirected to the Connect Onboarding form.
- Fill out the information that is required and submit the information.
- Get redirected to the Funding tab where you will now see a “Verified” status in the Funds Recipient Verification section.
If you have any questions, please contact us at firstname.lastname@example.org.
What is a 1099-K form?
In 2008, the United States Congress passed a law requiring businesses and individuals to report amounts received from third party organizations on a 1099-K form. The 1099-K form is used to report certain payment transactions to improve voluntary tax compliance.
Who receives a 1099-K?
The individual/business listed on the bank form may be liable for any applicable taxes and will receive a 1099-K if your campaign qualifies. If your campaign qualifies for a Form 1099-K, the information you provide on your bank form in the Campaign Editor will be used to send Form 1099-Ks.
Please be aware of the potential tax liability when filling out your bank form.
How are my funds reported on the 1099-K form?
The reported number is a gross amount. Gross amount means the total dollar amount of reportable payment transactions for each campaign owner. The amount does not take into account any credits, cash equivalents, discount amounts, fees, refunded amounts, or any other amounts.
Requirement to Receive a 1099-K form
Either Indiegogo or our payment processor(s) will send a 1099-K form to campaign owners with US bank accounts who have had contributions that exceeded $600 in gross funds raised. Before January 1, 2023, the threshold was at least $20,000 and 200 or more backers.
The 1099-K is a purely informational form that summarizes the activity of your account and is designed to assist you in reporting your taxes. The amount reported on the 1099-K is based on the date of contribution(s).
Before we can send your 1099-K form, we will ask you to complete a W-9 tax form with your name, address and Tax Identification Number (TIN). Campaign owners who have satisfied the criteria above will receive a form 1099-K by mail and email, either from Indiegogo or Stripe, depending on the processor of your funds.
How will I receive my 1099?
Your 1099 tax form will be sent to you by January 31. If you opted into e-delivery, you will not receive a paper copy. We highly recommend you opt into e-delivery for easy access to your 1099 tax form. If you did not opt in, your 1099 tax form will be sent to your address.
You may opt into e-delivery via Stripe Express. In late November, Stripe, our payment processor, will reach out by email with instructions on how to set up e-delivery and request you confirm your tax information on file. You may opt into e-delivery at this time.
What is a W-8?
A W-8 form is for Non-US based campaign owners. It certifies that you are a foreign/non-U.S. person receiving these funds that are not connected with a U.S. trade or business. Please note that the information provided on the W-8 form should be the information of the person/entity that is the account owner listed on the receiving bank account of the campaign.
What is a W-9?
A W-9 form is for US based campaign owners. We will ask you to complete a W-9 form with your name, address and tax identification number (TIN) before sending out a 1099-K form. Please note that we require the TIN of the person/entity listed on the receiving bank account of the campaign. The person/entity listed on the receiving bank account will be the one reported to the IRS.
What if my campaign(s) have not reached $600?
If your campaign does not meet this criteria, Indiegogo will not provide any tax documentation. We suggest you seek advice from your tax accountant on how to report your funds as we can not provide tax or legal advice.