Goodbye to 1099s

Previously, Numerai collected W9s from and issued 1099s to US based tournament participants who earned NMR as payouts and/or bounties. This requirement was based on the advice of our our accounting and audit partner.

Recently, that advice has been updated to state that we do not need collect W9s or issue 1099s to US based tournament participants for NMR payouts and/or bounties. Therefore, we will no longer collect W9s or issue 1099s effectively immediately.

What is changing

What is staying the same

  • We will continue to provide transaction history and reports on the website for your convenience.
  • You are responsible for calculating, reporting, and paying any taxes resulting from participation in the Tournament or Signals, under the laws of your jurisdiction.
  • Numerai and its affiliates do not provide tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

If you have any questions please feel free to reach out to us on the support channel on rocketchat or email us at support@numer.ai.

3 Likes