OfferUp partners with the payment processor Stripe to enable sellers to accept electronic payment methods when shipping. By using OfferUp to accept electronic payments, you agree to the Stripe Connected Account Agreement, which includes the Stripe Terms of Service (collectively, the "Stripe Services Agreement"). For more information, see the Stripe Services Agreement.
When using electronic payments, you may be asked to validate certain personal information. Learn more about how your information is used and safeguarded.
For the 2021 calendar year, if you have 200 or more transactions and sell over $20,000 worth of items using electronic payments, you'll be prompted in the OfferUp app to provide your full Social Security number and address to our payment processor (Stripe) for tax reporting purposes.
Beginning on January 1, 2022, the reporting threshold decreases to $600 worth of items in a calendar year using electronic payments (without a minimum number of transactions). We rely on Stripe to determine whether your Social Security number and address need to be provided for this purpose. If so, you will be prompted in the OfferUp app to provide your full Social Security number and address and we will not allow payouts until your Social Security number and address are provided. This change was introduced in the American Rescue Plan Act of 2021, which amended certain sections of the Internal Revenue Code to require payment processors, including our third party partner, Stripe, to report goods and services transactions made by customers with $600 or more in annual gross sales on 1099-K forms. This is an industry-wide change that applies to all payments processed by marketplaces.
If you meet these thresholds, you will also receive a 1099-K produced by Stripe. For more information, see Stripe Support.