What do I fax them exactly?? I have no organization, I sell other peoples merchandise on ebay for an 8% fee off the final price.
Did you signed up for a Paypal Business account otherwise you should not be asked for such documents ? You can only register a Paypal Business account if you have a registered or incorporated company only and not for private individuals. A private individual should only sign up for a premier account.
By definition, if you're working/selling for commisions, you're running a business. Private individuals don't do that. Just fax, if it's not some scam. them a copy of your local business license.
Someone told me that PayPal is providing the IRS with certain information of account holders. I'm not entirely sure what that's about, but it probably has something to do with the fact that a lot of people are making a crap load of money via PayPal and not telling the IRS about it.
It is not a scam, I'm not an idiot. I sign up as a bussiness individually but I don't have an actual bussiness. Like I said above, all I do is sell other people's goods for a fee of 8%. I don't have a business license whatsoever. What can I send them?
Like any company, they must report what goes in/out to the IRS. When doing that, you must provide the addresses and names of the companies/individuals you are doing business with. That is normal actually; thing ofcourse is that most people really don't want that as you can conduct Paypal transactions completely 'off the radar'.
For whatever reason they have classified you as a financial business. Thanks to the Patriot Act and other such nonsense, financial businesses need to provide more information when doing anything that involves money. It is the government's way of trying to make sure you are not laundering money for terrorists! While it says that are asking for documents, from what you have posted it looks like they are just asking for more information about what your business does. Just write a statement telling them pretty much what you said here. You are a sole proprietor and you sell other people's items on eBay for a fee. I know this because I have a financial business and have to deal with this kind of @#$% all the time.
Well, do you see the errors of your ways ? You can only sign up for a Business Paypal account if you actually have a registered business or an incorporated company. You cannot sign up for one if you are not registered or do not have a business license. I supposed paypal found out about the fact that you lied in your application and thus asking you for the business registration information. Go out and register the business in the name you submitted to Paypal and submit a copy of that business license to them. Alternatively, you can email Paypal and tell them how sorry you are and that you click the wrong link to sign up while you actually supposed to sign up as a Premier account.
Well I think a business account will suit better if $100-$300 a day is going into your account. I will just do what KMP said, Thank You.
Well, I do think a lot of people in this thread are talking complete bollox. I guess it alters from country to country, but where does it say you have to be registered or incorporated to have a business account. I'm what in know in Britain as a Sole Trader, and I've had one for years with no problem. Krame - paypal do perform checks if you start having more money going in than used to, or if you've just started an account - as someone else says, it's standard checks concerning money-laundering regualtions, it's not anything you've done. Ask them what is that want specifically, scanning and sending invoices and receipts is probably all that's required.
My suggestion is to just be honest with them. Tell them what you're using your paypal account for, your ebay stuff, and that you don't have a registered business, and then see what they say. Tell them that you signed up for a business account because you thought you had to, to do that much business with ebay. I don't think they're going to lock your account if you explain your situation to them. At worst they'll probably say that you need to switch to a personal account. But the important thing is to be honest with them. It will be much easier to get this situation remedied if you're honest with them.
I have a paypal business account. I put it my name as my organization but they have never asked me for proof. You should really contact them to see what they really want you to do.
If you are operating like a business you should have already done the following chief.... 1. Registered a DBA ($15-25) at your county clerk office. "Doing Business As" 2. You should have taken that DBA, and $100 to your bank and opened a business checking account. 3. Set your paypal/ebay to send money TO that business checking account when you withdraw it. or.... 4. Never should have signed up as a business account on paypal/ebay. To solve your problem, now you do 1-3, and fax them copies. Why people do think they can do business on line, and not set things up as a business for their own protection, and to be legal is beyond me. No offense. But if you are IN BUSINESS online you need to treat it like a business, and run it accordingly. 2 cents.
Because it's possible And I wish I could register a business IRL but unfortunately I can't yet. I love the internet.
Then you should not complain when the legalities catch up wit ye fine sire. Tell them you love the internet.