PRIZE MONEY PROCEDURE
A participant who is eligible for prize money has to fill in a W-9 form if he/she is considered as a US person for federal tax purposes. All foreigners need to complete a W-8BEN form. The forms will be available at the briefing as well as in the elite athlete lounge at the venue. You may also download them online: W-9 (PDF) / W-8BEN (PDF). Failure to complete these forms at the event will result in a delay of the prize money processing.
All prize money transfers will be completed by May 31, 2013. The earning statements will be processed and sent out early 2014.
- If the participant is a foreign person for federal tax purposes, a 30% withholding tax will be deducted from the payment. Please consult your tax advisor should you have any question on that matter.
- It is the athlete’s responsibility to claim his/her prize money. If you fail to complete the W-9 or W-8BEN at the event, your prize money payment will be delayed and you will be required to contact the LOC at email@example.com to get your payment processed.