A B-Notice is a notice the Internal Revenue Service (IRS) sends to payers, such as Coinbase, when there is a discrepancy between the Taxpayer Identification Number (TIN) and the name provided by customers on Form 1099.
If we email you that we have received a B-Notice regarding your Coinbase account, follow these steps:
To update your tax information: Go to Tax settings and update your tax profile.
To confirm your legal name and TIN: Make sure your legal name and TIN match in Tax Settings and on your Form W-9.
To submit your social security card: If we ask for it, make sure the card shows your correct name and SSN, which differ from the name and SSN on the notice, or the card shows an issue date within six months of the notice date.
Coinbase will only ask for a copy of your card if the IRS tells us twice within three years that your name and TIN do not match.
If backup withholding applies to your account, Coinbase blocks most payments instead of withholding from them, so nothing is taken from you. When we make a payment, we're required to withhold 24% and remit it to the IRS. Some states require additional withholding. Verifying your Form W-9 takes a few minutes and prevents or removes backup withholding.
Coinbase will not accept your taxpayer information except through completion of Coinbase’s digital Form W-9. If you have questions, contact us.
After submission, your details will be reviewed, and you should expect to have trading access restored in three to seven business days.