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How to Submit Your Tax Information as a Sole Proprietor

Edited

Before withdrawing funds from their Lumanu wallet, users are required to submit their tax information to Lumanu. Lumanu is set up as a third-party settlement group, meaning we handle tax paperwork on behalf of our clients.

This information only needs to be provided once on an annual basis.

To submit tax information:

  1. Select your Organization at the top of the navigation bar to open your Organization menu. Select Settings.

    Screenshot 2024-04-26 at 10.08.00 AM

  2. Navigate under the Taxes tab, then click the Get Started button.

  3. Lumanu will direct you through a series of questions about your business to determine the correct tax form to provide you with.

    • If you do not have an EIN, select Sole Propiertorship

    • If you have an EIN, select Business and follow the steps listed in our How to submit your tax info as a Business  help article.

      Screenshot 2024-01-03 at 11.29.17 AM


    • If you have an SSN or EIN, indicate that your business needs to file taxes in the US.

      Screenshot 2024-01-03 at 11.33.59 AM

  4. If you need to file taxes in the US, Lumanu will collect your personal information via the app and auto-generate a W9 form on your behalf.
    If you and your company are based internationally, you will be directed to fill out a W8 form and email it to vendors@lumanu.com, as well as provide the contact information for your business' primary contact.

  5. Lumanu will verify whether or not the information provided is accurate. You can see the status of your verification under the Taxes tab -

    • Needs more info - Lumanu needs more info in order to verify you are who you say you are. 

    • Resubmit info - there was an issue with the tax information provided. Please double-check your information entered and resubmit. 

    • Completed - your tax information has been fully verified.

    • Waiting for submission - your W8 form has not been received/approved by Lumanu

  6. Once verification is complete, you will be able to transfer your funds out of your Lumanu wallet to your bank or PayPal account. 

If you do not input your tax information before withdrawing your funds, you will be pushed to do so when attempting to withdraw. 

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