PSC Procedural Statement: W-9 & Vendor Authorization
Effective Date: January 1, 2011
This PSC Procedural Statement sets forth university requirements for processing vendors in the Finance System prior to the issuance of a purchase order or a payment.
Terms Used in This Procedural Statement
Italicized terms are defined in the Policy Glossary. Underlined terms are defined in the Finance and Procurement Procedure Glossary.
The Procurement Service Center (PSC) requires the completed CU W-9 and Vendor Authorization (CUW9) form in order to make a purchase of, or payment for, goods or services from a vendor. Periodically, the PSC may require an updated CUW9. The intent of this requirement is to:
- Ensure correct reporting of Tax Identification Number (TIN) and name combinations and to provide evidence that a payee is a valid individual or business, thus minimizing the risk of making inappropriate payments to fraudulent entities; and,
- Ensure collection of business classifications and subsequent accurate reporting of this information.
Vendors who are foreign nationals or foreign entities use the W-8 forms (W-8BEN, W-8EXP, or W-8ECI) instead of the CUW9 form. PSC staff will work with the International Tax Specialist at the Employee Services Center to determine when a W-8 is needed and which version of the W-8 is appropriate.
W-9s are not required to issue refunds (when CU needs to return money previously deposited into a CU account) or reimbursements (when CU wishes to cover an expense that was previously paid to an outside entity).
Furthermore, W-9s are not required to issue payment to University of Colorado (CU) employees or CU students since employee/student TIN information is already on file.
Unless approved by the Assistant Vice President/Chief Procurement Officer, there are no exceptions to this procedural statement.