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Performics Payment Question

 
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  #1  
Old
ABW Ambassador
Join Date: January 18th, 2005
Posts: 595
I joined about 2 months ago and have had some sales, i was just wondering if they will send you a check automatically or do you have to send them a W9 form first.
  #2  
Old
Chick with Brains
Join Date: January 18th, 2005
Location: Polk County, Florida
Posts: 1,877
They sent me a check automatically for Jan/Feb/Mar, and I didn't have to send them a W-9. However, they write the checks to my corporation, and W-9s are never required for a corporation.

They really don't need a W-9 from you unless they are going to be paying you $600 or more before the year is out. IRS only requires companies to issue 1099s to anybody they've paid $600 or more to in any given calendar year. In the case of a corporation, they are not required to send a 1099 at all.

Performics doesn't pay until you've reached a $50 minimum. They also don't pay until they've collected the funds from the merchant(s). This seems to slow things down a bit. I'm still waiting for my April/May payment, as well as my June payment. I've met the $50 minimum for both periods, but not seen the money yet. Sure wish they would SHOW ME THE MONEY!
  #3  
Old
Resident Genius and Staunch Capitalist
Join Date: January 18th, 2005
Location: Florida
Posts: 12,817
By the Terms, they take 2 months to pay up as opposed to CJ's 20 days.

BUT sometimes they beat that by a couple of weeks. Unfortunately, there have also been reports of them lagging by several MONTHS, as well. Luckily, I have been fortunate enough to get the first kind of merchants--the ones who pay a bit faster (therefore I get my Deposit faster).

As you can see, it's not so scheduled as good old CJ...

As for the W9, for a few months I received my payments without faxing one in, but a bit after tax time (I think it was late April), they sent me an email with a .pdf that I had to print out and fax back in order to keep getting direct deposits. There was also a part of the form that they said I had to fill out--or else they would have to withhold 30% of my earnings!

I assume the second part was equivalent to the W9, even though it didn't say "Form W9" on it anywhere that I could see...

I faxed it back and have had no problems so it looks like that's all that's required--and when they required it they let me know.

Just make sure to read your Performics emails or you may miss it!
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  #4  
Old
Chick with Brains
Join Date: January 18th, 2005
Location: Polk County, Florida
Posts: 1,877
Thank you, Leader, for posting that. I just went back and checked my email. This one was included. Funny thing, the form attached to my email was in WORD Format, not PDF.

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>To: Performics Partners and Affiliates
From: Performics Inc.
Date: May 1, 2002
Re: FastPay and W-9 Form

FASTPAY (For verification purposes)
Tired of waiting three, four or five days to receive a check through the mail? Now your commissions can be directly deposited into your bank account!

Performics would like to take this time to encourage you to participate in our FASTPAY
program and cut down on the time it takes to receive your commissions. Simply fill out the attached form.

W-9 (For business/individuals located in the United States only)

The Internal Revenue Service requires us to obtain the Taxpayer Identification number or the Social Security Number of anyone who we make payments to. The IRS code also requires a 31% withholding on payments unless your taxpayer identification number is provided. To avoid any withholding please complete the attached W-9 form. This form is in PDF
format. In order to view the file Acrobat Reader will be required. Download Acrobat Reader for free at ...

If you cannot open the attachment, simply click on the following link: www.irs.gov and print out a W-9 form from the IRS site. If there are any questions notify: Info@performics.com. Please mail or fax the completed form to:

Performics Inc. Fax Number:
Attn: Accounts Payable 312-739-0223
180 N. LaSalle St. Ste. 1100
Chicago, IL 60601

Performics Inc. values our relationship and would like to thank you in advance for taking the time to sign up for FASTPAY and filling out a W-9.<HR></BLOCKQUOTE>

Guess I need to fill out that form now, even though by law they really don't need it from a corporation as long as I have provided them with my FEIN.
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