In June 2023, Congress passed the INFORM Consumers Act which aims to make online sales safer and more transparent. The Act requires online marketplaces to collect, verify, and disclose certain information from high-volume, third-party sellers who meet the defined criteria. Below is an overview of the Act and how it may affect your selling experience on OfferUp.
Key details
- According to the INFORM Consumers Act, a high-volume seller is someone who has sold 200 or more items and earned $5,000 or more in gross sales via an online platform in a 12-consecutive-month period over the last 24 months.
- If you meet the criteria for a high-volume seller, we’re required to collect and verify some of your information. You’ll need to keep this information up to date and we’ll ask you to review it annually.
- If you meet the criteria for a high-volume seller and you reach a total of $20,000 or more in annual gross online sales via OfferUp, we’re required to provide your name (or company name) and physical address on buyers’ receipts.
FAQs
A high-volume seller is anyone who has sold 200 or more items via shipping and earned $5,000 or more in a 12-consecutive-month period over the last 24 months on OfferUp.
If you meet the criteria for a high-volume seller, then we’ll need to collect and verify your:
- First and last name
- Bank account number
- Tax ID number (SSN or ITIN)
- Email address
- Phone number
If necessary, we may also request additional information from you as part of the verification process.
If you meet the criteria for a high-volume seller, we'll send you an email to collect the required information through Stripe, our third-party payment processor. You must provide your information within 10 calendar days of receiving the email. If not, we may suspend your selling capabilities on OfferUp.
The information you provide is securely collected, stored, and verified by Stripe. To learn how Stripe protects your sensitive data, see the Stripe Privacy Policy.
If your information isn't received and verified within 10 days from the date it’s requested, we're legally required to restrict your selling activities on your account. If you’re unable to provide or verify your information within 10 days, please select the Contact Us button below and submit a request for assistance.
If you meet the criteria for a high-volume seller and you reach a total of $20,000 or more in annual gross online sales, we’re required to disclose the following information about you on all future receipts:
- Name
- Physical address
The INFORM Consumers Act went into effect on June 27, 2023.
Report suspicious activity
One of the goals of the INFORM Consumers Act is to deter the online sale of stolen, fake, or unsafe merchandise. You can help by reporting suspicious buyers, sellers, and item listings. To learn how, see How to report a user and How to report a listing.
For questions or concerns about any of the above requirements, please contact us.