question Why does Atom need our SSNs? No other platform does.

[Molly]

Hi guys. Why does Atom require our Social Security numbers for payout on domain sales? This is not something to be shared lightly, and no other platform has asked for it. The best I can come up with is maybe they need that for contest winners? Then why not ask that of only those individuals? Thanks.

 

[alcy]

another reason to love atom...not.... first they fock u for 30% fee then ask for ssn

 

[Future Sensors]

You see it more and more often, because marketplaces, affiliate programs and crypto exchanges have to comply with strict legislation. This concerns the collection of taxes, but also KYC/KYB requirements. Marketplaces and programs such as Ebay, Google Adsense and Amazon Associates have been asking for this information for years (including a W8-BEN form, for example) and you will see that other domain marketplaces will also comply with this in the future. You can be angry with Atom, but Atom is little to blame for this.

 

[biggie]

no other platform has asked for it.

Hi

typically only those platforms that paid ppc, asked for ssn.
it was used for 1099 forms.

don't know why they request it and i'd be asking the question.

maybe they use it for verification.

imo....

 

[Future Sensors]

It will also depend on the country you live in.

The W-8BEN form that Atom requires has fields for US Taxpayer Identification Number (SSN or ITIN) and Foreign Tax Identification Number. It's a standard form, and can be found on the IRS website: https://www.irs.gov/pub/irs-pdf/fw8ben.pdf

 

[fardomai]

I assume they asked you to fill out a W-9 form or other forms depending on your status. If so, most U.S.-based companies require this too.

For example:

Dan doesn't require it.
Sedo doesn't require it.
Afternic/GoDaddy likely does.

 

[Future Sensors]

I assume they asked you to fill out a W-9 form

In my case, Atom required the W-8BEN.

 

[fardomai]

In my case, Atom required the W-8BEN.

Yes, same here, as I live outside the US

 

[bmugford]

As others have said, it's can be part of KYC or tax requirements.

That said, the less you give out your SSN to third parties the better.

Brad

 

[bmugford]

Hi guys. Why does Atom require our Social Security numbers for payout on domain sales? This is not something to be shared lightly, and no other platform has asked for it. The best I can come up with is maybe they need that for contest winners? Then why not ask that of only those individuals? Thanks.

GoDaddy requires a SSN or Tax ID for payees.

Brad

 

[Future Sensors]

The best I can come up with is maybe they need that for contest winners?

If you see paying taxes as a contest, that could easily be the case.

By participating every year you have a chance to win a great society.

 

[Molly]

Thanks all! My instinct is that they require this as a hindrance to receiving what’s yours — the proceeds of a domain sale. It would be different if they only required this for contest participant as those people are technically being paid by Atom — I’m not.

I also don’t recall giving my SSN to any other platform. To me, this feels a little like a doctor’s office insisting on my SSN. They don’t actually need it — and haven’t in at least 20 years. All insurers use private ID numbers. They ask for this so they can more easily hunt you down. They can (and will) easily bill you and your insurance without it.

That’s not why Atom is doing it, but I suspect at least some of the intent behind this is nefarious.

 

[Future Sensors]

You have to read this thread again @Molly.

 

[bmugford]

Thanks all! My instinct is that they require this as a hindrance to receiving what’s yours — the proceeds of a domain sale. It would be different if they only required this for contest participant as those people are technically being paid by Atom — I’m not.

I also don’t recall giving my SSN to any other platform. To me, this feels a little like a doctor’s office insisting on my SSN. They don’t actually need — and haven’t in at least 20 years. All insurers use private ID numbers. They ask for this so they can more easily hunt you down. They can (and will) easily bill you and your insurance without it.

That’s not why Atom is doing it, but I suspect at least some of the intent behind this as nefarious

They are not withholding any money.

The burden to report and pay taxes is still on the domain seller.

The raw amount you receive doesn't include expenses and deductions that you may qualify for when you file taxes.

It's probably not really in their interest to collect SSN, outside a legal requirement. It would likely turn off some potential customers.

Brad

 

[Molly]

Thanks again, everyone. I clearly have strong feelings about this. And the next time your doctor’s office asks for your SSN, tell them to eff off as they don’t need it. They can treat, bill & receive payment for services rendered without it.

 

[Future Sensors]

@Molly, there are a few certainties in the life of a domain investor. That you are born, that you will die, that Afternic penalizes you with insane commissions, that Verisign charges higher prices for .com every year, and for most of us: that you have to pay taxes somewhere.

 

[D Haynes]

Have to say I don't remember ever having to give any marketplace any form of government ID, tax information or needing to fill out any forms but I might just have a bad memory.

I certainly have for crypto things though which I find quite ironic.

 

[SpareDomains]

https://helpdesk.atom.com/en/articles/156767-why-am-i-being-asked-for-w-9-tax-information

 

[Future Sensors]

https://helpdesk.atom.com/en/articles/156767-why-am-i-being-asked-for-w-9-tax-information

Thanks.

And also: https://helpdesk.atom.com/en/articles/121790-how-do-i-provide-my-w-9-or-w8-ben-form

 

[tld4me]

Apply for sole proprietor EIN with the IRS and then use that instead of SSN.