IRS Revises Form W-9 to Strengthen Digital Asset Compliance Requirements
ChainCatcher News, according to market sources, the U.S. Internal Revenue Service (IRS) has released a draft of the 2026 Form W-9, adding new digital asset compliance provisions. The draft requires U.S. brokers to collect and verify clients' Taxpayer Identification Numbers (TIN) in transactions involving cryptocurrencies, NFTs, and other digital assets, in order to strengthen tax reporting.
The draft also clarifies specific guidelines for sole proprietors and disregarded entities when filling in tax identification numbers, aiming to reduce the risk of backup withholding due to incorrect TINs. The new regulations will take effect in January 2026. Enterprises need to update their compliance procedures, and individuals and businesses should ensure the accuracy of their TIN information.
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