Under the updated Section 6045 regulations, U.S. digital asset exchanges are now classified as “brokers” and therefore have additional obligations to collect certified tax documentation from their customers. If you opened your Gemini account prior to January 1, 2026 it is possible that you did not submit a tax certification at the time of onboarding. The updated rules allow U.S. brokers one year to collect a certified TIN on a Form W-9 from pre-existing U.S. customers (customers who opened an account prior to 1/1/2026), or a Certification of Foreign Status on a Form W-8 for non-U.S. customers of the U.S. exchange. 

If you do not submit a valid Form W-9 or W-8, Gemini will be required to apply backup tax withholding at a rate of 24% on proceeds from digital asset dispositions and certain income-yielding activities. This tax is required to be deposited with the IRS at the time of collection and will be reported to the IRS in the customer’s name so that it may be reclaimed by filing a U.S. tax return. 

If you did submit a Form W-9 at account opening (institutional customers), you may update the digital version on the Gemini website or app to  ensure the data is correct and reflects your most recent information. Forms W-8 expire every three years, so if you previously submitted a Form W-8, please ensure a new form is submitted electronically and keep an eye out for re-solicitations of expired forms. 

To submit or update a Form W-9 or W-8 please go to: 

Account > Settings > Statements and Taxes > Taxes: Tax Documents