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Author Topic: Certificate of Residency  (Read 3456 times)

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« on: December 31, 2017, 14:00 »
+1
I hadn't logged in to StockFresh in a while, but went to check today and saw that I'd sold an EL in December so I was over the payout threshold.

I requested payout and was confronted with a screen with a new requirement (I've been paid by them before via PayPal): I needed to upload a certificate of residency (they had pre-filled in that I live in the US so I think I must have uploaded ID when I created this account as well as provided my mailing address).

StockFresh is based in Hungary and I'm assuming this is something to do with VAT or local taxes. I uploaded my driver's license picture (numbers blurred out) which has my US address and I hope that will suffice. A quick Google search suggests there's an IRS 6166 tax form that would certify to any foreign tax treaty partner that I'm a US resident, but that takes 6 weeks to get. You get this by submitting a form 8802 (gotta love the forms and numbers) and an $85 fee!

As that fee is more than the payout amount, it wouldn't be worth getting the form, so I'd just close my account to make sure there were no more sales. I'm hoping my driver's license will do.

Did anyone else get any alert from StockFresh about this new requirement before payout? The last thing I remember receiving from them was about the new curation standards. I can't see anything in the contributor FAQ on the site.

I'll let you know how this plays out, but I really think that changing payout requirements should merit email to contributors to let them know what's required and how to get whatever it is. I know StockFresh doesn't make the laws, but as they have contributors world-wide, they need to communicate about legal changes in Hungary or the EU that might apply to agency payments


« Reply #1 on: December 31, 2017, 21:46 »
+1
Yeah, I ran into the same thing when I tried to request a payout this afternoon.  I had a surprisingly good month with them, enough that my payout is just slightly more than that IRS fee.  I sent them a message asking about the specific requirement.  If they insist on that IRS certificate, I'll tell them to delete my port and close my account.  In every respect I agree with your comments.  Making a change like this without notifying us is bad form.

« Reply #2 on: January 02, 2018, 15:28 »
+3
Peter at StockFresh responded to my message.  He was surprised at the cost of a Certificate from the IRS and said a scan of my ID would suffice.  So all's well at least for now.

« Reply #3 on: January 02, 2018, 16:17 »
+2
Peter at StockFresh responded to my message.  He was surprised at the cost of a Certificate from the IRS and said a scan of my ID would suffice.  So all's well at least for now.

That's great - I didn't send a message, just uploaded my ID and figured he would tell me if that wouldn't do.

Assuming payment comes next week (assuming this will will be late or a skip given the holiday on Monday), I'll send a note suggesting they update the contributor FAQ to provide more details on what is and isn't OK to submit.

« Reply #4 on: January 09, 2018, 08:59 »
+3
Just to follow up on my first post, I received my earnings this morning. No discussion at all about the driver's license I uploaded for the residency requirement and no deductions.


 

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