The IRS revises Form W-9 to strengthen compliance requirements for digital assets

ChainCatcher news, according to market news, the IRS has released the draft of Form W-9 for 2026, which includes new compliance provisions for digital assets. It requires U.S. brokers to collect and verify customers' Tax Identification Numbers (TIN) in transactions involving cryptocurrencies, NFTs, and other digital assets to enhance tax reporting.

The draft also clarifies specific guidelines for sole proprietors and disregarded entities when filling out TINs, reducing the risk of backup withholding due to TIN errors. The new regulations will take effect in January 2026, and businesses need to update their compliance processes, while individuals and businesses should ensure the accuracy of their TIN information.