We will soon begin migrating to a new payment processor which will offer additional payout methods other than PayPal such as ACH Bank Deposits and Wire Transfers.
Alongside this transition, and due to US regulatory requirements, we will begin collecting Tax documentation (ie: W-9, W-8BEN, etc.) from our artists and labels in order to be paid so that we can file 1099s/1042s with the IRS as well as potentially withhold a certain percentage based on those regulations.
US based accounts normally have no withholding with a valid W-9, however for foreign accounts we may be required to withhold a certain percentage unless their country is a party to any beneficial treaties with the United States as determined by the W-8BEN that will be submitted.
No action on your part is required at this time, but soon you will be required to submit your W-9 (US Accounts) or W-8BEN (Non-US Accounts) via your Dashboard at Catapult. As soon as the transition is completed we will notify all of our users via email to login and complete this process as well as modify their preferred payout method if applicable.