I'm starting a freelancing job and my consulting service will be for an overseas company. Do we still need a W9 form or that's only for American companies?

[felipe-riosneto]

*I live in the U.S., I'm an American citizen, and the work will be done in the U.S. The company paying for my service is in another country and will monthly transfer (SWIFT) the payments to me.  

[KristinaK · Accepted solution]

No, an overseas company that doesn't have a presence in the US is not required to issue form 1099 (NEC, MISC, etc.) W-9 is provided to the payer so that they can issue a 1099 to the vendor/payee. 

Whether the company has a presence or is doing business in the US is another matter. And it is not for you to decide. 

[felipe-riosneto]

Thank you. So without a W9 the IRS would only know about my new consulting business when I do the tax returns in 2024?

[KristinaK]

Correct. If you are not incorporate or otherwise organized into an entity. 

There is your bank account, too. The income will show on your bank account, so if audited, that will indicate your income. 

I would also recommend issuing invoices to the company. Since you will be considered self-employed, you will need to keep substantiation documents. 

See if these help:

The Art of Keeping Receipts for Your Taxes
What self-employment expenses can I deduct? 
Why am I paying self-employment tax?
Can I deduct health insurance premiums if I am self-employed?