BENE002 — Beneficiary Companies: Which Account Type Do I Need?

Last updated: August 26, 2026

When signing up for Xtrm to receive payments, choosing the correct account type ensures proper tax compliance, legal identity verification, and access to necessary payout tools. Xtrm offers two primary account structures: Personal (Individual) and Company (Business) accounts.

Account Type Comparison

Feature / Criteria

Personal (Individual) Account

Company (Business) Account

Best For

Sole proprietors, independent contractors, athletes, ambassadors, or individual incentive recipients.

Registered businesses, LLCs, corporations, partnerships, agencies, resellers, or vendors.

Account Ownership

Owned by an individual under their personal legal name and SSN/Tax ID.

Owned by a legal business entity under its registered company name and EIN/Business Tax ID.

Multi-User Access

Single user access only.

Yes. Supports multi-user roles (Master Admin, Manager, Controller, Reader).

Payout Options

Bank transfer, debit card, gift cards, virtual Visa/Mastercard.

Bank ACH/EFT/SEPA, global wire transfers, instant debit, check, digital rewards, or secondary B2B payouts.

Tax Reporting

Issued 1099 / W-8BEN for personal tax reporting where applicable.

Corporate tax reporting (W-9 / W-8BEN-E compliance).

Re-distribution (Paying Others)

Limited to personal withdrawals.

Yes. Can fund secondary payouts to employees, subcontractors, or partners.

How to Choose the Right Account

Choose a Personal Account if:

  • You are receiving payouts in your own legal name.

  • You do not have a registered business entity or EIN.

  • You are the sole recipient of the funds and do not need to manage access for team members.

Choose a Company Account if:

  • Payments are made payable to a company, LLC, or business entity.

  • Multiple team members or finance personnel need login access to manage funds, reports, or transfers.

  • You intend to re-disburse portions of received funds to employees, partners, or sub-contractors.