Tax Form Validator
(TFV)
What is the TFV?
The TFV is a web-based means of
validating the Forms W-8 and W-9
you receive.
Who needs it?
Any company that receives US tax
forms: banks, hedge funds, asset
managers, insurance companies,
accounts payable groups
and more.
Why?
Increased regulatory scrutiny and
new, more complicated tax forms
will expand the risks associated with
inaccurate or inconsistent tax form
validation.
How does it work?
Open your browser, log into the TFV
and answer a few questions. The TFV
will provide your validation results.
Tax Form Validator (TFV) can streamline the tax form validation process
for IRS Tax Forms W-8 and W-9 and their substitutes. Web-based and
user-friendly, the TFV helps operations personnel efficiently validate forms
based on up-to-date regulatory interpretation. With updates centrally
managed by EY as the administrator, the TFV is easily re-configured for
form and instruction changes and new regulations while being supported by
the global tax capabilities of the entire EY organization.
No installation: web-based, user-friendly application
• Getting started is as simple as getting a login ID.
• Straightforward design can reduce the amount of staff and training required for
tax form validation while increasing efficiency in your process.
• Training and support are available to get teams up and running or may be
augmented as needed.
Rapidly configurable
• Language can be tailored to reflect enterprise-specific resources like system
names or internal processes.
Centrally controlled
• Customizations and updates are centrally managed by EY, and are promptly
available to validation resources.
Comprehensive audit trail
• Validation results and form customizations are stored indefinitely alongside the
relevant user name.
• Reports can be exported to interface with existing MI systems.
Why EY?
With over 1,200 resources focused on the Foreign Account Tax Compliance
Act, Ernst & Young LLP has a deep understanding of the problems that firms
face validating Forms W-8 and W-9, and deep experience with interpreting,
mechanizing and remediating the processes around these tax forms.
Tax Form Validator (TFV)
Key features
Unlimited users
Adding new users is straightforward and does not create an
additional cost. Analysts and managers can be grouped for
more streamlined management reporting.
Managers
Analysts
Analysts
Pop-up help to add descriptions to
checklist questions
Tool tips can clarify questions or direct you to sources for
additional information.
Review the
entity’s
certificate of
incorporation
Detailed reporting
All validation data within the tool is exportable for reporting
and data mining, including every form validated, its
validation result (e.g., valid/invalid/valid without treaty
benefits), the name of the user who performed the
validation, the answer to every question, and any associated
reasons for failure of the form or denial of treaty benefits.
4. Is the account for an entity, and not for
an individual?
5. Does the address match the entity’s
country of incorporation?
6. Do all addresses on the form include
street number and name?
Data privacy
The TFV was built with data privacy in mind. As a job aid to a
tax operations user validating tax forms, the TFV presents a
series of questions that are answered without entering any
client-specific information.
Personally identifiable information
Tax form
Tax ops user
As the user reviews the form, he or she will refer to the
information on the form, but will not enter it into
the TFV.
Anonymous information
Validator.ey.com
Tax Form Validator
The TFV does not require any demographic or
otherwise sensitive information about the client or the
form to validate it.
EY | Assurance | Tax | Transactions | Advisory
About EY
EY is a global leader in assurance, tax,
transaction and advisory services. The insights
and quality services we deliver help build
trust and confidence in the capital markets
and in economies the world over. We develop
outstanding leaders who team to deliver on
our promises to all of our stakeholders. In so
doing, we play a critical role in building a better
working world for our people, for our clients
and for our communities.
EY refers to the global organization, and may
refer to one or more, of the member firms of
Ernst & Young Global Limited, each of which is
a separate legal entity. Ernst & Young Global
Limited, a UK company limited by guarantee,
does not provide services to clients. For more
information about our organization, please
visit ey.com.
© 2015 EYGM Limited.
All Rights Reserved.
EYG No. CK0895
BSC no. 1501-1383428
ED None
This material has been prepared for general informational
purposes only and is not intended to be relied upon as
accounting, tax, or other professional advice. Please refer to
your advisors for specific advice.
Ernst & Young LLP
key contacts
Terence Cardew
[email protected]
+1 212 773 3628
Justin O’Brien
[email protected]
+1 212 773 4767
Maria Murphy
[email protected]
+1 202 327 6059
Douglas Sawyer
[email protected]
+1 212 773 8707
David Jensen
[email protected]
+1 212 773 5370
Neil Bromberg
[email protected]
+1 212 773 9011
Deborah Pflieger
[email protected]
+1 202 327 5791
Timothy Morin
[email protected]
+1 720 931 4488
Jim Kickham
[email protected]
+1 212 773 7032
Tomer Siegal
[email protected]
+1 212 773 9132
Shams Naim
[email protected]
+1 212 773 6124