PRIZE WINNINGS POLICY

[UBA ADMIN]

 

                                                                               Attention all UBA Members

Effective September 1st 2021, there will be a new process to receiving prize winnings from official UBA events & matches. All members must be registered to the UBA website (www.ubatv.tv). When registering, please input your name exactly how it is registered on your UBA Franchise's roster. NO NICKNAMES PLEASE!!. After cashing in an event or match, your ubatv.tv email will be submitted through bill.com. Emails will not be able to be found if nicknames are listed on your ubatv.tv account. This will delay the distribution of your prize winnings. You will receive an email from bill.com to create an account. If you have received prize winnings previously via bill.com, there are no additional steps to take to receive your winnings UNLESS your accumulated yearly winnings adds up to $600 or more then you MUST submit a W-9 form to receive your prize winnings.

FAQ FOR BILL.COM PROCESS & PRIZE WINNINGS POLICY: 

 

Please read below updated policy regarding all prize winnings from UBA season tour and events: 

1). The IRS requires UBA to furnish 1099 forms to individuals who accumulate winnings of $600 or more annually in any UBA event in which they participate. Therefore, social security numbers are required by IRS regulations. Up to date earnings will be available and included with each prize fund check issued. No W-9 received within the 90 days will result in forfeited of funds. No EXCEPTIONS!! 

2). Teams are strongly advised to open a team account and apply for an EIN number. Season tour and playoff payments will be directly deposited in the president's or team's name account that was set up in bill.com. To avoid getting a 1099 in the team president name, it’s best to apply for a team EIN number. It’s free. 

3). Prize winnings will be directly deposited within 30 days after the conclusion of the tournament (USBC Rule 309) unless permission is granted to extend by USBC tournament certification. 

4). A UBA Profile is required to be created by individuals so an invite from bill.com can be sent. Winnings will be direct deposited into the account you set up with your bill.com account. 

5). In the event of a tie in any event, prize money will be equally divided. 

6). The UBA will not be responsible for winnings directly deposited into the wrong account. 

7). All prize winnings must be claimed within 90 days after bill.com invite was sent, or prize winnings will be forfeited. 

8). All unclaimed prize money will be forfeited after 90 days. NO EXCEPTIONS!!!! It’s the team owner, president, and individual's responsibility to make sure the UBA has the required email to receive a bill.com invitation for disbursement. 

9). Bill.com invites will be sent within a week after the tournament standings are finalized. 

10). Bill.com payments will be processed weekly on Tuesdays only. That means if you inquiry before Tuesday and your account Is set up, your payment will be processed on Tuesday. If your account is set up after Monday evening, your payment will be processed the following Tuesday. 

11). If you would like for someone else to claim your winnings, an email is required to be sent to [e-mail]. These winnings and tax responsibility will be transferred to the person claiming the funds.  

12). Winnings for a tournament type event will be issued to the individual who cashed. All events at Battle Bowl qualify as tournaments except for Capped and Uncapped Event. The Capped and Uncapped Event winnings will follow the procedures under season long events. The winnings for season long events such as Team Rankings and Season Tour will be direct deposited into the team's, team presidents, or Franchise Owner's account, whichever is set up in bill.com. 

13). Any inquiries related to not receiving a bill.com invite should be emailed to [e-mail]. 

 

We appreciate your understanding and cooperation with the policies listed above. This should help to alleviate some confusion about when winnings are directly deposited, and steps required to receive winnings. 

 

Thank you, 

UBA Financial Department 

[e-mail] 

 

 

Here are the instructions on how to set up bill.com accounts:

 

https://help.bill.com/direct/s/article/115005387243

(#4 select independent contractor)

(#5 enter your information)

***PLEASE DO NOT CREATE A BILL.COM ACCOUNT BEFORE GETTING THE INVITATION LINK EMAILED TO YOU. ACCEPTING THE INVITE & SETTING UP YOUR ACCOUNT AUTOMATICALLY CONNECTS YOU TO THE UNDERGROUND BOWLING ASSOCIATION CONNECTION & ALLOWS US TO PROCEED DISTRIBUTING PRIZE WINNINGS (pending bank verification & a filed W9 if applicable).

IF YOU ALREADY HAVE A BILL.COM ACCOUNT, PLEASE FOLLOW THE INSTRUCTIONS BELOW:

 

The UBA will only be communicating with event cashers in reference to a bill.com account set up. You will be required to enter your social security number or team EIN number for verification purposes. Once your account is set up & your banking information is verified, prize winnings will then be processed to be directly deposited into the account you add on your profile. *Note that if your accumulative prize winnings are $600 or more in a fiscal year (Jan 1-Dec 31), a W9 form must be submitted to the UBA. Prize winnings will not be distributed without a W9 on file. Locate a blank W9 form & uploading details on the www.ubatv.tv website under UBA Financials. Members will be allowed to add the following accounts that support direct deposit onto their profile:

• Personal Banking Account
• Paypal
• Venmo
• Cash App

 Thank you,

UBA Financial Department

[e-mail]