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Does the 2024 W-9 form invalidate previous forms on file?
April 17, 2024
Q. Please clarify if the 2024 W-9 invalidates all previous W-9s we already have on file, or is it required to be used only going forward?
A.
(Answered by IOFM's third-party tax experts)
Reg. sec. 31.3406(j)-3 which addresses Form W-9 and “reasonable reliance” doesn’t provide a cutoff time for transition when the IRS issues a new Form W-9. However your organization is expected to put the newly revised 2024 Form W9 into use for new solicitation of payee TIN, name and status information as soon…
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