Quick Answer
No, it is generally not recommended to provide your full Social Security number (SSN) to online marketplace platforms like StubHub. While StubHub may request your SSN for tax reporting purposes if you sell a large volume of tickets, it is advised to explore alternatives that do not require providing your full SSN. Some safer options include using an Individual Taxpayer Identification Number (ITIN) or applying for an Employer Identification Number (EIN) instead. It is always wise to carefully consider requests for your personal information and only provide what is absolutely necessary.
What Information Does StubHub Require?
StubHub, like many online marketplace platforms, requires users to provide certain personal information for account verification and tax compliance purposes. Here is a summary of what information StubHub asks for:
- Full legal name
- Physical address
- Phone number
- Email address
- Payment information such as credit card details
- For high-volume sellers, StubHub will require either a SSN or EIN (see next section for details)
Providing basic contact information and payment details is standard for setting up an account on sites like StubHub. However, when it comes to providing more sensitive information like a SSN, extra caution is warranted.
When Does StubHub Require a SSN or EIN?
According to StubHub’s policies, they will require U.S. account holders who exceed 200 ticket sales transactions or $20,000 in gross sales in a calendar year to submit either a SSN or EIN.
This requirement is tied to tax reporting obligations:
- For personal accounts, StubHub must issue a 1099-K form to the IRS reporting gross sales over $20,000.
- For business accounts, StubHub must issue a 1099-MISC for gross sales over $600.
To fulfill these IRS requirements, StubHub needs the tax ID number of high-volume sellers – either a SSN or EIN. However, their policies indicate providing a SSN is not the only option.
Concerns With Providing Your SSN
While StubHub has a legitimate need to collect tax ID numbers for high-volume sellers, it’s understandable users may be hesitant to provide their full 9-digit SSN given concerns around identity theft and fraud. Here are some of the top concerns with sharing your SSN:
Identity Theft
SSNs are a prime target for cyber criminals and identity thieves. According to the FTC, SSNs coupled with other personal info are ideal for committing identity fraud. Providing your SSN to any online platform creates a risk that the data could be breached, leaked, or exposed through a security lapse.
Opening New Accounts
With access to your SSN, scammers can open new credit cards or other financial accounts in your name and wreck havoc on your finances. This type of fraud can be difficult to detect and remedy.
Existing Account Takeover
Your SSN can also allow criminals to gain access to many of your existing financial and utility accounts by providing verification of identity. Enabling takeover of your current accounts is another way SSN theft can turn into a nightmare.
Hard to Change SSNs
The Social Security Administration rarely grants requests for new SSNs for identity theft victims. This makes SSN exposure a long-term threat since you are unable to easily change the number if compromised.
Data Breaches
While StubHub may have adequate security measures, any company can experience a data breach. Providing your SSN always carries the risk that the number could be leaked through a hack.
Alternatives to Providing Your SSN to StubHub
Given the valid concerns around sharing SSNs online, it’s prudent to consider alternatives before providing that info to StubHub or any other platform:
Use an Individual Taxpayer Identification Number
An Individual Taxpayer Identification Number (ITIN) can be used in place of a SSN for tax reporting purposes. ITINs are available from the IRS for individuals who do not have or are ineligible for a SSN. Getting an ITIN involves submitting an application (Form W-7) along with ID documents and proof of foreign status. Using an ITIN may allow you to meet StubHub’s requirements without providing your SSN.
Obtain an Employer Identification Number
If you are selling tickets as a business rather than an individual, applying for an Employer Identification Number (EIN) is a better option than using your SSN. EINs are essentially equivalent to SSNs, but specifically for business entities. Sole proprietors, LLCs, and other business structures can easily obtain an EIN directly from the IRS through their website. The EIN keeps your personal SSN shielded.
Avoid High Ticket Volumes
If obtaining an ITIN or EIN is not feasible, another alternative is to control your selling activity to stay under StubHub’s reporting thresholds (200 sales or $20,000 annually). By limiting ticket volumes, you may be able to use the platform without needing to provide your SSN or a tax ID number. However, this threshold is cumulative across all ticket resale platforms, so you need to track sales carefully.
Avoid Resale Platforms Altogether
If you want to steer clear of any potential SSN disclosure requirements, you can avoid online ticket resale platforms altogether. There are other ways to resell tickets, such as through classified ads or community message boards. While less convenient, avoiding platforms like StubHub entirely eliminates the SSN issue.
How to Protect Yourself If Providing SSN
If you determine there is no way to meet StubHub’s requirements without providing your SSN, here are some tips to help protect your identity:
- Carefully check the website URL and SSL certificate to verify you are on StubHub’s legitimate website.
- Make sure you have a strong, unique password set for your StubHub account.
- Use multi-factor authentication if available to enhance account security.
- Only provide the minimum info required and do not have your SSN pre-filled to avoid excess data exposure.
- Monitor your credit reports frequently for any suspicious activity.
- Place a fraud alert or credit freeze with the major credit bureaus to make it harder for anyone to misuse your SSN.
While not foolproof, those precautions may help minimize risks if you decide providing your SSN to StubHub is your only viable option as a high-volume seller.
The Bottom Line
StubHub requiring your SSN is reasonable from their business standpoint to fulfill tax reporting obligations. However, from a consumer perspective, it’s perfectly understandable to be wary of providing your full 9-digit SSN to an online platform given rampant cybercrime. Before handing over sensitive info like a SSN, you should exhaust other options like using an ITIN or EIN. If you must provide your SSN, take steps to guard your identity. Evaluate your specific situation carefully and implement precautions to avoid becoming the victim of SSN misuse or identity theft.
Pros of Providing SSN to StubHub | Cons of Providing SSN to StubHub |
---|---|
Allows you to continue selling high volumes of tickets | Risk of identity theft if SSN is compromised |
Meets StubHub’s requirement for tax reporting purposes | Opens you up to financial fraud if SSN is misused |
No issue meeting IRS reporting thresholds across platforms | Difficult to change your SSN if exposed |
Avoids potential tax issues being reported to the IRS | Provides criminals means to take over your financial accounts |
The Bottom Line
Providing sensitive personal information like a Social Security number always carries risk. When considering whether to disclose your SSN to an online marketplace like StubHub, carefully weigh the business need against identity theft concerns. If possible, pursue alternatives like using ITINs or EINs. If you must provide your SSN, implement precautions around account security, credit monitoring, and fraud alerts. Make safety the top priority before handing over your 9-digit SSN.