Number: SOP-SDM-31
Subject: Expiring and Expired W8 Supplier Maintenance
Summary: Process for reviewing and inactivating foreign supplier profiles with expired tax information on file.
Source: University Procurement Services
Date of Issue: 06/28/2021
Date of Revision: 04/23/2024
Disclaimer
Rationale
W-8BEN tax forms expire 3 years from the signature date on the form. Once expired, IU should no longer purchase from the supplier until new forms are received.
Procedure
Expiring W-8BENs
- Supplier Data Management (SDM) runs a quarterly report to identify expiring W-8BENs.
- SDM reviews the profile to ensure the document is truly expiring at the end of the year.
- SDM sends out a notification to the supplier.
IU Press/IU Library classified suppliers
- SDM filters out suppliers classified as IU Press/IU Libraries and sends the list of those records to the department contact.
- IU Press and IU Library will contact the supplier to request new tax forms.
Expired W-BENs
- In January of each year, SDM will run a report to identify expired W-8BENs.
- SDM will do a final review of the profile to ensure new documentation has not been received.
Registered suppliers
- An email communication is sent via SalesForce to the email addresses on file instructing them to provide a new W-8.
- Email communication examples for companies and individuals:
Proxy or unregistered suppliers
- SDM searches for Open and Unmatched POs against the supplier
- The PO initiator is informed via a comment that the supplier account will be deactivated due to outdated tax forms and an invitation is required before the profile can be used again.
- The supplier record is deactivated and rejected with a note similar to “Supplier has an outdated W-8. Supplier profile has been deactivated. If needed in the future, use a supplier edit form to invite the supplier to register and provide needed tax documents.”