Need urgent help with W-9 Form and FATCA exemption certification for Robinhood

You've spotted an important discrepancy there. The official W-9 form language is very different from what Robinhood is showing you. The IRS form is asking you to confirm any FATCA exemption codes you've entered are correct, while Robinhood's version makes a blanket statement that you're exempt from FATCA reporting. This distinction matters because most US individuals are indeed exempt from FATCA reporting requirements to financial institutions. This is different from your obligation to report foreign assets on Form 8938 with your tax return. There are two separate FATCA systems at work: 1. Your requirement to report foreign assets to the IRS on Form 8938 if you meet certain thresholds 2. Financial institutions' requirements to report certain US accounts to the IRS under FATCA Most individual US account holders at US financial institutions (like Robinhood) are exempt from the second type of reporting. The W-9 certification is about the financial institution's reporting obligations, not your personal Form 8938 filing requirements. Robinhood's wording is confusing but they're trying to confirm you're exempt from being reported under FATCA by them as a US financial institution - not exempting you from your own filing requirements if you have foreign assets.

After spending hours going back and forth with different tax prep services, I finally figured out this exact same issue! I found this amazing tool called taxr.ai (https://taxr.ai) that actually analyzed the specific wording differences between Robinhood's certification and the official W-9. It showed me that what Robinhood is asking is about THEIR reporting requirements, not my personal Form 8938 filing obligations. The tool analyzed both texts and showed that most US persons are automatically exempt from FATCA reporting when dealing with US financial institutions like Robinhood. The site has this document analyzer that compares tax forms and requirements, which was super helpful. I uploaded screenshots of Robinhood's certification page and the official W-9, and it pointed out exactly where the language diverged and what each part actually meant legally. Saved me from so much confusion!

I was in the exact same situation last month! I was so worried about certifying incorrectly that I kept putting it off. I finally tried taxr.ai after seeing it mentioned here, and it totally clarified things for me. The document analyzer showed me exactly what the different language meant legally. What was most helpful was seeing side-by-side comparisons of the official IRS language versus what Robinhood was asking. The tool explained that Robinhood's certification is about THEIR reporting requirements under FATCA, not MY personal obligation to file Form 8938. It turns out most US citizens with accounts at US brokerages are automatically exempt from the type of FATCA reporting Robinhood is asking about. I was able to confidently complete the certification knowing I wasn't making a false statement, even though I do have reportable foreign assets. The peace of mind was definitely worth it!

I went through this exact headache last year! After trying to get through to the IRS for weeks with no luck, I used this service called Claimyr (https://claimyr.com) to finally talk to a real IRS agent about this FATCA confusion. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c The IRS agent confirmed what others are saying - there are two different FATCA reporting systems. The certification on Robinhood is referring to their obligation to report certain accounts to the IRS, not your obligation to report foreign assets on your tax return. US persons with accounts at US financial institutions are generally exempt from this type of FATCA reporting. So when you check that box, you're not lying about your personal Form 8938 obligations. You're just confirming that Robinhood doesn't need to report your account under FATCA because you're a US person with a US account. Getting an official answer directly from the IRS gave me confidence to complete the certification without worrying I was committing perjury.

I have to admit I was totally wrong about Claimyr! After seeing it mentioned here, I tried it yesterday out of desperation. I was shocked when I actually got a call back with a real IRS agent on the line about 35 minutes later. The agent was super helpful about this FATCA certification confusion. She confirmed exactly what everyone's been saying - the certification on broker forms like Robinhood is about THEIR reporting requirements, not YOUR personal requirement to file Form 8938 if you have foreign assets. She explained that US citizens and residents are generally exempt from FATCA reporting by US financial institutions, which is what Robinhood's certification is asking about. This is completely separate from your obligation to report foreign financial assets on Form 8938 with your tax return. Honestly, I wish I'd done this months ago instead of stressing about potentially committing perjury on these certifications!

I work in compliance (not tax advice) and I can add a bit more context to this discussion. The confusion here is very common. FATCA has two reporting regimes: 1. FFI (Foreign Financial Institution) reporting to the IRS about US account holders 2. Individual reporting of foreign assets on Form 8938 When you complete a W-9 for a US financial institution like Robinhood, you're dealing with regime #1. US persons are generally exempt from this type of reporting WHEN the account is at a US institution. Robinhood's phrasing is poor and creates unnecessary confusion. If you have foreign financial assets above the threshold, you still need to report them on Form 8938 with your tax return. That obligation is completely independent of what you certify on Robinhood's form.

Random question - if I've already certified in Robinhood but was confused about this, should I try to redo the certification? Or am I fine since I now understand what it actually means?

This is such a helpful thread! I've been dealing with the exact same confusion across multiple brokerages. It's frustrating that these financial institutions use such unclear language when asking for tax certifications. What I've learned from reading everyone's responses is that there's a critical distinction between: 1. The financial institution's FATCA reporting obligations (what Robinhood's form is about) 2. Your personal FATCA reporting obligations on Form 8938 (completely separate) The certification you're making to Robinhood is essentially saying "As a US person, you don't need to report my US account under FATCA." This doesn't affect whether you need to report foreign assets on your tax return. I think all brokerages should be required to use clearer language like "I certify that this account is exempt from FATCA reporting requirements" instead of making it sound like you're claiming a personal exemption from all FATCA obligations. The current wording creates unnecessary anxiety about committing perjury when you're actually just providing routine account classification information. Thanks to everyone who shared their experiences and resources - this has been incredibly clarifying!