1. Department of Financial Services Tax Identification Numbers, Form W-9 Requirements & Direct Deposit / EFT Participation

2. Agenda Debbie Evans – 1099 Section – Vendor Ombudsman Section – Reconciliation Section Steve Smith – Direct Deposit / EFT Section 2

3. Department of Financial Services Payments to vendors for goods and services from the various state agencies are processed by the Department of Financial Services (DFS) under the Chief Financial Officer Alex Sink DFS maintains various systems to record and report financial information for the state 3

4. Tax Reporting Requirements DFS is responsible for reporting taxable information to the Internal Revenue Service (IRS) The IRS recommends obtaining valid vendor information before making payments to vendors – Tax Identification Number (TIN) – FEIN or SSN – Official registered business name or business owner If a vendor fails to supply an identification number, the IRS can require DFS to withhold 28% of the payment, i.e. “Backup Withholding” 4

5. Substitute Form W-9 The IRS has an official Form W-9 used to obtain this valid vendor information but authorizes payers (State of Florida) required to report 1099 information to create a Substitute Form W-9 to obtain the valid vendor information – Must have certification statements – Must have business designations – May have additional information needed by the payer 5

6. Substitute Form W-9 - Part 1 There is a current State of Florida Substitute Form W-9 included in your vendor packets Federal Employer Identification Number (FEIN) OR Social Security Number (SSN) Two name fields NAME (as shown on your income tax return - in relation to the TIN) Business name if sole proprietor 6

7. Name – Business Name (Part 1) 1. Individuals should enter the name shown on your social security card. If you have changed your last name due to marriage without informing the Social Security Administration of the name change, enter your first name, the last name shown on your social security card, and your new last name. 2. Married couples should give the matching name and SSN of either person. 3. Corporations enter the corporate name on the "Name" line and enter the d/b/a name on the "Business name" line. 4. Limited liability company (LLC) - If a single-member LLC (including a foreign LLC with a domestic owner) disregarded as an entity separate from its owner under Treasury regulations section 301.7701-3, enter the owner's name on the "Name" line and enter the LLC name on the "Business name" line. You may use either your SSN or EIN. If the LLC is a corporation, partnership, etc., enter the business name on the name line and the entity's FEIN. 7

8. Name – Business Name con’t. 5. For a sole proprietor or a single-owner LLC enter your individual name as shown on your social security card. You may enter your business, trade, or "doing business as (DBA) name on the "Business name" line. You may enter either your SSN or EIN (if you have one). The IRS prefers that you use your SSN. 6. For a valid trust, name the trust and give the EIN for the trust. Do not furnish the TIN of the trustee. 7. For an estate, the name should be shown as "The estate of (name of decedent)". Give the SSN of the decedent if he/she died in the calendar year of the closing. Give the EIN for the estate for any subsequent years following the death of the decedent. Do not furnish the TIN of the personal representative. 8. For an association, club, religious, charitable, educational, or other tax- exempt organization, give the name and EIN of the organization. 9. For a partnership or multi-member LLC give the name and EIN for the partnership, or LLC. 8

9. Substitute W9 Form – Part 2 Business Designation (circle only one): 1. Corporation – formed under laws of any state within the United States – do not mark this just because your name says ‘incorporated’ - FEIN 2. Not for Profit Corporation (Section 501(c)(3) Internal Revenue Code) - FEIN 3. Partnership, joint venture, estate, trust or multiple member LLC – SSN or FEIN 4. Individual, Sole Proprietor, Self Employed or Single Member LLC – SSN 5. Noncorporate Rental Agent – FEIN or SSN 6. Governmental Entity (City, County, State or U.S. Government) - FEIN 7. Foreign Corporation or Entity (a foreign entity formed under the laws of a county other than the United States.) If YES is marked, complete and attach a for W-8ECI 8. Nonresident Alien (An individual temporarily in the U.S. who is not a U.S. citizen or resident.) Note: There will be some business classifications added soon because of the mandatory 3% withholding tax beginning January 1, 2012. 9

10. Updates The 1099 system operates separately from the vendor files – Important to complete a new Form W-9 when updating a TIN, name or address Contact Information: – 1099 Section (850) 413-5519 Fax: (850) 413-5550 – Vendor Ombudsman Section (850) 413-5516 Questions? 10

11. Agenda Debbie Evans – 1099 Section – Vendor Ombudsman Section – Reconciliation Section Steve Smith – Direct Deposit / EFT Section 11

12. Direct Deposit Registration Please provide all the information requested on the Electronic Payment Authorization (Direct Deposit Form) If the request is a change of account information (such as account name, account number or transit- routing number), check “Yes” under the “Payee Information” section 12

13. Vendor / Payee Name Payments can only be sent electronically, if the payee name on your Direct Deposit form matches the payee name on the Statewide Vendor File If you are currently receiving payments by state warrant (check), you should use the payee name (first line) exactly as it appears on the State Warrant If you are a MFMP vendor, complete the Direct Deposit form using the 1099 name in MFMP 13

14. Account Registration / Maintenance in VIP 1099 Name

15. Authorized Signatures & Processing time We require Original signatures from the vendor’s authorized signer and your financial institution representative before the direct deposit request can be processed It takes about four to six weeks for your direct deposit request to be processed 15

16. Financial Institution Information Accuracy of the account information is very important and must be verified by your financial institution Account Information: Account number, Transit routing (ABA) number and Account type (checking or saving) 16

17. Additional Information It is important to note that the Direct Deposit applies to all payments to your organization by the State of Florida – Please take this into consideration when initiating direct deposit In addition, the State cannot send different payments to different accounts – All payments from the State will be sent to the one account you designate 17

18. Contact Information Direct Deposit Section – (850) 413-5517 Email address- DirectDeposit@myfloridacfo.com DirectDeposit@myfloridacfo.com Questions? 18

19. Web Resources http://www.myfloridacfo.com/ State Vendors http://www.myfloridacfo.com/aadir/direct_dep osit_web/index.htm http://www.myfloridacfo.com/aadir/direct_dep osit_web/index.htm http://www.fldfs.com/aadir/IRS3PercentWithh olding.htm http://www.fldfs.com/aadir/IRS3PercentWithh olding.htm https://flair.dbf.state.fl.us/ 19