SPV Dictionary

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W- Wa Wi

W-8

W-8 form is an Internal Revenue Service (IRS) form that allows non-US individuals and businesses to confirm they are not US taxpayers. An SPV Organizer should collect a completed W8 (W8 BEN and W8 BEN-E) from each of their non US investors. A completed W8 form allows for an SPV tax return (form 1065) to […]

W-9 (Request for Taxpayer Identification Number and Certification form)

A W-9 form is an Internal Revenue Service (IRS) form, also known as a Request for Taxpayer Identification Number and Certification form, which is used to confirm a person’s taxpayer identification number (TIN). This confirmation can be requested for either an individual defined as a U.S. citizen or a person defined as a resident alien. […]

Waterfall

A schedule typically described in the SPV documents of how investor distributions are calculated. Typically broken up into tiers at either the SPV level or investment level that must be satisfied before Carried Interest is paid to the Organizer. Tiers often consist of the following phases: Return of Capital, Preferred Return, Catch-up, and Carry. Venture […]

Winddown / Shutdown (Wind Down, Dissolve)

When an SPV has fulfilled its purpose, it can be wound down or shut down. The steps required to wind down an SPV may vary depending on its structure and jurisdiction but generally follow a similar process. The basic steps to winding down an SPV include: 1) formally shutting down the entity according to its […]

Wire

Wire is a common phrase to describe wiring funds or wire transfer from one bank account to another. Wiring money is performed throughout the world as an effective way to transfer funds. In the context of SPVs, investors who want to participate in an SPV investment opportunity must transmit their investment money to the SPV. Money […]