Ever since we chatted about everything you need to know about the Reels Play Bonus Program and how to get paid for those bonuses, we’ve been asked about the payment options. When people try to set up their payouts, they’re being asked for their SSN or EIN. We’ve had students worry about the safety and what to do. Today, I’m going to shed some light about how to set up the tax information for the Reels Play Bonus Program – and why it’s necessary and safe to do so! As a reminder, I’m not a tax or legal advisor – just a fellow business owner. I promise, the Reels Play tax information is totally legit – so let’s get started! 

Setting Up Payouts for the Reels Play Bonus Program

When you’re setting up the payout for the Reels Play Bonus Program, the easiest thing to do will be to use your PayPal account. When you do that, they’re going to ask you for your EIN, or your Employer Identification Number. This is basically a social security number for your business. Instagram has to ask for your EIN for legal reasons as a company operating in the US. When a company pays a contractor or individual more than $600 a year, they have to file at 1099 at tax time. Instagram needs your EIN to be able to issue this document to you at the end of the tax year and they’re covering their butt by asking you for that information now. It’s super easy to rack up money each month from this program! 

What does that mean for YOU?

Basically, if you want to join the Reels Play Bonus Program, you have to be a legit business that has an EIN and files taxes properly. They’re not trying to tiptoe around the government! Getting an EIN is super easy and is done through the IRS. It’s something every business owner should have. If you don’t, learn more about it here! It takes maybe 5 minutes and you’ll be ready to go. I would also recommend reviewing your state’s website about what your requirements are to own a business, too! Again, Instagram is just making sure that you’re legit and you’ll report what you need to at the end of the calendar year. 

As a reminder, all of this is for business owners in the United States. If you live outside the US, the steps might be different. The bottom line is that Instagram asking for your EIN is legit and you want to provide that information so you’re ready to go and join the Reels Play Bonus Program! 

Other Reels Resources 

I also offer a free one-hour Instagram Reels class if you want more help with how to grow your reach, followers, and customers with Reels in 2 hours a month! You can sign up for that HERE. And, if you have questions or want some extra support, I’ve got a FREE Reels Growth Facebook Community that you can join. I absolutely love getting to chat with everyone and help them work through their questions about Reels!

Wondering what to make for your next Reel? Free quiz to find out what type of reel idea you should make next! 

Need ideas for Instagram? Grab our free sample Instagram posting schedule here!