Back Office Word of the Week 9/2/19 – TIN CHECK
When On-boarding a new vendor, a TIN Check is an important component of ensuring compliance. A TIN Check verifies that either a Social Security Number (SSN) or an Employer Identification Number (EIN) is valid and matches a person’s or company’s name in the IRS Database. A mismatch occurs when the IRS cannot verify a Name with a corresponding TIN number.
ICG’s Vendor Onboarding solution includes a 3rd party punch-out to verify a suppliers SSN or EIN is valid in the IRS database along with ensuring potential suppliers are not on any government watch lists.
If you would like to learn more about TIN Check and the robust capabilities of ICG’s cloud-based Vendor Onboarding Portal contact us today!