Simplify the management of federal tax withholding forms
VendorCapture dramatically simplifies the process of collecting, validating and maintaining Forms W-8 and W-9 for federal tax withholding compliance.
Stay up-to-date on the latest regulations—including FATCA
Every employer is legally obligated to withhold appropriate taxes when paying vendors, including independent contractors and non-U.S. residents. Failure to do so in a timely and accurate manner can lead to increased tax liability, penalties and fines. With companies using more contractors than ever - 40% of the American workforce is predicted to be freelancing by 2020—the demands for accurate and thorough compliance documentation are also elevated.
In addition, the new Foreign Account Tax Compliance Act (FATCA) complicates matters further. Banks and other financial institutions are required to assist the IRS in collecting taxes from U.S. taxpayers abroad by reporting the details of their overseas financial accounts, including naming and identifying the account holders. How confident are you that you have a handle on this complex business compliance issue?
One solution. Many benefits.
- Collect forms electronically in a secure web portal
- No hardware to buy or maintain
- No ongoing IT support needed
- Be FATCA compliant
- Assign access at varying levels of permission
Automate the collection of Forms W-8 & W-9
Avalara VendorCapture is a cloud-based solution that automates the collection and validation of federal withholding forms including Forms W-8, W-9 and the new W-8BEN-E. With VendorCapture, you can be confident you are collecting all of the required information from vendors to be compliant with the IRS.
"We were able to identify a lot of missing W-8s and W-9s…and were much better prepared for year-end work. The system has proven cost-effective on many levels."
-Mike Schoster, North America Tax Manager
Open APIs and data feeds enable integration with ERP, CRM and other third party applications, while intuitive vendor portals make it easy to create and submit the proper form. The forms are stored in a secure online database so you can access them quickly and easily, at any time. Expiration dates are tracked automatically and you can schedule renewal requests to be sent in advance.
Priced to scale with your business
Avalara VendorCapture scales with you as your business grows. You’ll only be charged by the number of forms stored. The more you collect, the more you save.
Companies that want to rest easy can hand over the withholding form management to Avalara Managed Services. A team of specialists will not only set up your VendorCapture account, but update and manage it daily. It’s like having your own personal fleet of experts doing all the work for you.
- Schedule personalized requests for new forms
- Direct links that allow vendors to access and complete forms online
- Expiration date tracking and automated renewal requests
- Pricing scaled to the number of forms stored
- Automatically flag vendor accounts when valid forms are not on file
- Synchronize customer records and withholding status with your ERP or CRM
- Add form collection wizard capabilities to your client portal