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Paypal and Non Profit forms needed
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Monday, March 16, 2009 at 9:24 AM
Has anyone had problems with Paypal sending a letter and flagging your account for more information regarding a non-profit, EIN and a cancel check. We set up the account at the bank with a EIN number, then verified the bank account with the deposit and then received the further follow up flag on my paypal account. We don't have a non-profit...is it required to have one for the reunion purpose if we already have the EIN number??
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Monday, March 16, 2009 at 10:35 AM - Response #1
I was having the same problem, and I didn't have the paperwork to show we were non profit, so I ended up having to call them and then I got it squared away. Although paypal still says I'm going to have to verify something else in order to receive more that $500 in a months time
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Monday, March 16, 2009 at 10:40 AM - Response #2
Thanks for answering my question...I guess that is what we are going to have to do.
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Monday, March 16, 2009 at 12:23 PM - Response #3
We had the same problem. I faxed them a letter indicating that we are a reunion committee and that is why I picked non-profit. Then I went into our acount and changed our business type to services. It was much easier than trying to get all the stuff they wanted. I made a call to them once but it took me so long to finally get thru after being bounced around that it wasn't worth my time. Good luck with it.
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Tuesday, March 17, 2009 at 12:47 AM - Response #4
Hi, I had the same issue. I ended up sending them a voided check from our bank account and our EIN # that I set up for our Reunion. I also had to call them to take off the daily transfer limit from our paypal account to our bank account. They had a limit of $500 a day and if you start getting more registrations and funds that might cause an issue.
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Wednesday, March 18, 2009 at 8:14 PM - Response #5
Amy - how did you get Paypal to lift your transfer limit of $500? (Was it $500/day or $500/month?) I just opened a Paypal business acct for our reunion and the guy I just spoke to from Paypal said he couldn't lift the limit over the phone.
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Wednesday, March 18, 2009 at 9:05 PM - Response #6
Hi Melissa,it might have been $500/month (that sounds more reasonable). I followed these steps from Paypal Here's how you can lift your withdrawal limit. Log in to your account. It will tell you how to lift the limits. Hope that helps!
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Tuesday, March 24, 2009 at 5:25 PM - Response #7
We have been going around and around with PayPal over the "Determination Letter 501(c)" that they insist they need for us to organize as a non-profit exempt. We filed our EIN under non-profit exempt "Social Club", which is a 501(c)(7) organization. In order to get a Determination Letter from the IRS, you have to file a form 8718 and pay a $300 fee. We have told them less than 10% of our income will come from donations and the remaining 90% will be from dues. We're waiting on their "resolution" of this. We have also emailed the class to request they begin sending checks. PayPal has placed the $500 a month limit on us and we can't work with that. I saw the response to resubmit our status as "services" rather than "non-profit", but I believe they will ask us to charge tax on our income if we aren't a non-profit. I've even talked to IRS agents who have no idea why PayPal is causing us so much trouble. Their suggestion (and mine) is to NOT use PayPal. Good luck!
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