SECTION 7. ACCEPTANCE AGENT

AGREEMENT

.01 In general . An acceptance agent agreement described in §301.6109– 1(d)(3)(iv)(A) of the regulations is an agreement between the IRS and a person authorized to act as an acceptance agent on behalf of an alien individual or other foreign person with respect to their need to obtain TINs from the IRS. The Commissioner of the Wage and Investment Division or his/her designee will sign the agreement on behalf of the IRS. If the acceptance agent is a person other than an individual, the agreement must be signed by an authorized representative of the acceptance agent.

.02 Terms and procedures . The terms of an acceptance agent agreement may vary depending upon such factors as the professional status of the applicant ( e.g., financial institution, educational organization, U.S. federal agency, tax preparer, attorney, CPA, etc.), the organizational status of the applicant ( e.g., corporation, partnership, sole proprietorship, etc.), and the place of residence or organization of the applicant ( i.e., inside or outside the United States). The acceptance agent agreement will generally contain the following terms and conditions to ensure proper administration of the process by which the IRS issues TINs to alien individuals and other foreign persons.

(1) Procedures for providing TIN appli- cation forms . An acceptance agent shall agree to maintain a supply of Forms W–7 for obtaining ITINs, and of Forms SS–4 for obtaining EINs. The acceptance agent may use a substitute form that is approved by the IRS. For example, if the acceptance agent is a financial institution, the Form W–7 or Form SS–4 may be incorporated as part of an account opening package. See Rev. Proc. 2004–62, 2004–2 C.B. 730, for the procedures governing the use of substitute forms.

(2) Procedures for assisting in comple- tion of TIN application forms . An acceptance agent shall agree to assist in the preparation of the TIN application form. For example, the acceptance agent should confirm that every item included on the application form has been completed and should assist the TIN applicant in understanding the information required by the application form. The acceptance agent

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revenue procedure. To avoid a lapse in acceptance agent status, a new application should be filed with the IRS by June 30, 2006.