So you’ve signed up as an OnlyFans creator, and now you’re being asked to fill out something called Form W-9. If you’re not too versed in US tax law, you might be thinking “what the heck is this?” – well have no fear, we’re here to break it all down for you!
What is Form W-9?
Form W-9 is a tax form used in the United States by businesses and individuals who are required to file an information return with the Internal Revenue Service (IRS). The purpose of the form is to provide the IRS with the taxpayer identification number (TIN) of the person or business that is responsible for paying taxes on the income being reported.
If you are an OnlyFans creator, you may be asked to complete Form W-9 if the company is going to be paying you for your content or services. By completing the form, you are giving the company your TIN and certifying that the TIN you provided is correct. The company will then use the information on the form to report any income they pay you to the IRS on an information return, such as a Form 1099.
It is important to note that Form W-9 is not an income tax return and should not be filed with the IRS. It is simply a way for the company to obtain your TIN and verify your identity for tax purposes. If you have any questions about Form W-9 or your tax obligations as an OnlyFans creator, it is recommended that you speak with a tax professional or contact the IRS for more information.
What Information is Provided on Form W-9?
Form W-9 collects essential information necessary for a payer entity to prepare correct tax forms for contractors, including:
- Business name (if applicable)
- Taxpayer identification number (TIN)
- Tax classification of contractor
- Any tax exemptions applicable
How to Complete Form W-9 For OnlyFans
When you become a creator on OnlyFans, you will need to complete Form W-9, which provides OnlyFans the information necessary to pay you and provide tax documents at the end of the year (ie. Form 1099-NEC). As a sole proprietor, you would fill this form out as yourself in your personal capacity. You will not receive a Form W-2 as an OnlyFans creator, as you are deemed to be a contractor and not an employee for tax purposes.
To access this form, go to the “Banking” section of your OnlyFans settings. Click “edit W-9 form” to access your Form W-9.
Box 1: Name – this would be your first and last name on file with the IRS
Box 2: Business name – this would be left blank in most cases for sole proprietors
For your OnlyFans W9, business name is left blank for most people.
Box 3: Federal tax classification – you would check off the first option, “Individual/sole proprietor or single-member LLC”
Box 4: Tax exemptions – leave this blank
Box 5 & 6: Address – complete this with your address
Part I: Taxpayer Identification Number (TIN) – your social security number (SSN) will serve as your identification number – you do not need to obtain an employer identification number (EIN) as a sole proprietor
Part II: Certification – read and agree to the certification and attach your e-signature once done
Scroll all the way down and click “Send“.
How do OnlyFans creators pay taxes? See our U.S. Tax Guide
Frequently Asked Questions
Do OnlyFans creators have to pay taxes?
Yes, OnlyFans creators have to pay taxes on all income associated with being a creator. Income attributable to an OnlyFans business may include subscription revenues, pay-per-view sales, and tips.
Does OnlyFans provide W2s?
No, OnlyFans does not provide W2s. Your earnings on OnlyFans are considered business income. OnlyFans is not considered your employer and is therefore not required to provide you a W2 form.
OnlyFans will provide you with a 1099-NEC if they’ve paid you over $600 in the calendar year. You can download this completed form from your OnlyFans account. Ensure that you save this tax form for tax preparation as the IRS will also have a copy and will expect you to report this income on your tax return!
Is being an OnlyFans creator considered a business?
Yes, being an OnlyFans creator is considered a business venture. As an OnlyFans creator, you are deemed to be carrying on a business in the eyes of the Internal Revenue Service (IRS). Therefore, you must report all earnings associated with your OnlyFans business as gross business income. You are then entitled to various deductions to bring down your overall net income for business purposes.
Most creators are deemed to be a sole proprietor unless they otherwise incorporate or set up a different legal structure for their business. As a sole proprietor, you would generally be deemed to earn self-employment income. Self-employment income is taxed under U.S. tax law similar to employment income. However, a sole proprietor may claim deductions for business expenses, generally not available to employees.
Can I write-off expenses against my OnlyFans income?
Yes, you are also entitled to take deductions against your OnlyFans income, to reduce the overall amount of taxes that you’d need to pay. Learn more: Common Tax Write-Offs for OnlyFans Creators
Will the 1099-NEC that OnlyFans sends me, say “OnlyFans” anywhere on it?
No, the 1099-NEC will be issued by a company called “Fenix International Limited”, which is the parent company of OnlyFans.
Do I need an EIN for OnlyFans?
No, you don’t need an EIN (employer identification number) for OnlyFans. You can simply use your SSN (social security number) as your tax identifier.
Do I need a model release form when I collaborate on OnlyFans?
Yes, if you feature other creators in your OnlyFans videos or images, you will need to obtain a signed model release form before posting that content. Learn more: How To Get OnlyFans Model Release Form