Who Handles Taxes?

As a US-based company, Kinjari is required to collect tax information from all payees before processing withdrawals. Here's how it works:

What we handle:

• Collecting your tax form (W-9 for US individuals/entities, W-8BEN for non-US individuals, W-8BEN-E for non-US entities)
• Applying any required withholding (backup withholding at 24% for US payees where applicable, or up to 30% for non-US payees based on treaty rates)
• Filing 1099-MISC forms for eligible US payees and 1042-S forms for non-US payees with the IRS
• Providing you with copies of any tax forms we file on your behalf

What you need to do:

• Submit your tax form in your account under Bank > Tax Form before requesting your first withdrawal
• Keep your tax information up to date as W-8 forms expire after three years so you'll need to resubmit it. Don't worry, we'll remind you
• Report your Kinjari earnings on your own tax return as required by the rules in your jurisdiction

Withholding

If you're a US payee with a valid W-9 on file, no tax is withheld from your withdrawals unless you've been flagged for backup withholding. If you're a non-US payee, withholding is applied to the US-sourced portion of your earnings at 30% (or a reduced rate if your country has a tax treaty with the US which you can claim on your W-8 form).

If you have questions about your specific tax situation, we'd always recommend speaking with a tax professional. For questions about the Kinjari tax form process, just reply to any of our emails or contact support.