Shift W9 & W8 Upload

November 15, 2024

Re: In re Shift Technologies, Inc., et al. (the “Debtors”), Lead Case No. 23-30687 (HLB): Request by Liquidating Trust for IRS Form W-9 or Form W-8 (as applicable)

Dear Creditor:

The Shift Technologies Liquidating Trust (the “Trust”) was established by order of the United States Bankruptcy Court for the Northern District of California (the “Bankruptcy Court”) in the above-referenced chapter 11 cases of Shift Technologies, Inc. and its affiliates. The Trust currently administers assets potentially available for distribution to unsecured creditors of the Debtors under the Debtor’s Combined Disclosure Statement and Joint Chapter 11 Plan Dated July 16, 2024 (the “Plan”), which Plan was confirmed by order of the Bankruptcy Court entered on 26 September 2024.

 A complete list of case information may be obtained on the website of the Debtors’ claims and noticing agent at https://cases.omniagentsolutions.com/?clientId=3678 

Pursuant to the Plan, Shift Technologies, Inc., an entity organized under the laws of the United States, transferred all assets, as of October 12, 2024, to the Trust, an entity formed under United States law, for further administration.

The Trust has determined that, at present, there remain sufficient residual assets remaining to make distributions to creditors whose claims exceed a minimum threshold under the Plan. Because the Trust is a grantor, liquidating trust subject to United States Internal Revenue Service (IRS) regulations, it needs certain taxpayer identification documentation (“IRS Forms”) to be able to fulfill its tax reporting obligations under IRS Revenue Procedure 94-45, 1994-2 C.B. 684, and U.S. Treasury Regulations sections 1.671-4(a) and 301.7701-4(d) before the Trust can make any supplemental distributions to the Debtors’ creditors. For that reason, among others, the Plan and its ancillary documents provide that the Trustee may require holders of claims under the Plan to complete and return to the Trust an appropriate IRS Form.

Accordingly, we write to request that you complete an IRS Form W-9 (for U.S. creditors) or the applicable IRS Form W-8 (for non-U.S. creditors) supplying relevant taxpayer identification information, and send or upload the completed IRS Form to the Trust at either the mailing address or secure website set forth on the reverse side of this letter. We have enclosed a Form W-9 and a Form W-8BEN-E for your use. 

Please note that there are several different types of IRS Form W-8. While W-8BEN-E is most common, the Trust cannot advise which Form W-8 is applicable to any particular non-U.S. creditor.

If you require assistance completing the Form W-9 or Form W-8, please consult with your tax advisor. Please understand that the Trust requires your completed IRS Form before making any distributions to you. 

Completing the Form

• Please be sure to use a current IRS Form. Additional copies of IRS forms are available at: (i) for Form W-9 (U.S. taxpayers), https://www.irs.gov/forms-pubs/about-form-w9; and (ii) for Form W-8 (non-U.S. taxpayers), https://www.irs.gov/forms-pubs/about-form-w8.

• The deadline under the Plan to respond to this request is 6 December 2024 (within 21 days of the date of this notice). If you fail to send the completed form timely, you may not receive a supplemental distribution from the Trust.

• If the name that you indicate on Line 1 of your IRS Form W-9 (or, if applicable, IRS Form W-8) is different from the name to which this mailing is addressed, please write the addressee name at the very top of the tax form you are returning so that we can match the forms we receive to the holders of claims against the Debtors, as listed on the Trust’s records.

• Please remember to sign and date your form.

Transmitting the Form

The Trust will accept tax forms (i) by upload to a secure web site hosted by the Trustee, or (ii) by United States mail. Uploading tax forms is strongly encouraged. Please do not fax or email the completed tax form, because those are not secure methods to transmit or receive the form.

• Upload: You may upload a completed form via this link or the button at the top of this page.

• Regular Mail: While uploading your tax document is the preferred means of submission, you may instead send a hard copy completed form to by regular mail to this address:

Shift Technologies Liquidating Trust

c/o Arch & Beam Global LLC, Liquidating Trustee

7 West 41st Avenue - #523

San Mateo, CA 94403

As noted above, the Trust must receive your current executed Form W-9 (or, if applicable, Form W-8) within 21 days of the date of this notice; otherwise, no distribution will be made to you. Additionally, if your address changes, it is your responsibility to notify the Trust. If a distribution check is returned to the Trust because of an incorrect address and you do not provide a correct address, eventually your right to a distribution will be forfeited under the relevant provisions of the Plan.

Finally, if you would like a copy of the Plan or other public documents concerning the Debtors’ chapter 11 cases, they can be accessed at: https://cases.omniagentsolutions.com/?clientId=3678. 

If you have any questions about which form to use or the legal or tax implications of the information provided on the form, you should contact your attorney or tax advisor. Neither the Trust, the Trustee nor the Trust’s advisors will provide advice concerning those matters.

Sincerely,

Shift Technologies Liquidating Trust