Tipalti provides automated tools to help the payer meet tax requirements and compliance with “black-lists” to avoid payments to unauthorized entities.
All payees are required to fill out tax forms as part of their self-registration on Tipalti’s Payee Dashboard. For US entities, a W-9 (Request for Taxpayer Identification Number and Certification) is required. Non-US entities, are required to complete a declaration stating that they are not a “US Person” as per the IRS definitions.
OFAC, AML, Anti-Terror, Anti-Narcotics compliance
Tipalti’s servers automatically scan all payee records before executing every payment cycle. Tipalti’s database is updated weekly with the latest information as published by the US government’s Office of Foreign Assets Control (OFAC) in its SDN (Specially Designated Nationals) List.