The Controller’s Office is updating its records to comply with IRS regulations.
To ensure proper reporting to the IRS, the college must collect Form W9 (request for taxpayer identification verification) from ALL vendors.
This form must be completed for any new vendor. Every new vendor must also complete a W9 form before it is created in Banner and before the college will make any payments to the vendor. W9 Forms can be found under Canisius Templates and on the portal page.
All existing vendors in Banner must also have a W9 on file with the College. Please help the Accounts Payable and Purchasing Office gather W9s for any vendor that will receive payments from the college. Payments will not be processed if a W9 is not on file with the college.
On an annual basis, the college must issue 1099 tax statements to all eligible vendors regarding the income they received from the college. Certain types of payments made to vendors must be reported to the IRS. Having a signed W9 on file allows the college to report the correct combination of Tax Identification Number (TIN) and name, thus avoiding IRS penalties.
Thank you for your cooperation. If you have any questions, please contact Alex Brewer at Ext. 8526.
Submitted by: Alex Brewer, director of tax, endowment and grants, accounting
