Setting Up Tax ID as FFI

Access the Edit Supplier Information form.

Tax ID

Enter the identification code required by tax authorities. This can be a social security number, federal or state corporate tax ID, sales tax number, and so on. The system verifies the number and prints the separators in their correct format, according to the value of TAXC for Person/Corporation Code. If no value exists for TAXC, the system uses the Corporate Entity.

Caution: While you use the Accounts Payable software, the system automatically supplies the default value for the Tax ID for 1099 processing from the supplier master record.

Foreign Financial Institution

Select this check box if you want to mark the Tax ID as FFI. When you print the 1099 form for the supplier, the box for the FATCA filing requirement is selected.

When you update FFI indicator for a Tax ID for which you have already specified the value of FFI, the system displays a warning message. You can override the warning message and change your FFI preference for a tax ID.