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Legal & Compliance FAQ

Do we need to set up a bank account?

Nope. We will hold your funds for you! If you are eligible, joining is fast and easy.

Do we need to file taxes?

Collectives do not have a separate legal existence from Open Source Collective and thus should not submit tax forms to the IRS. Your financial activities are included within our annual filings.
Individuals who receive income from Open Source Collective (or one of its hosted collectives) may be asked to submit a W9 and will be issued a 1099. If this applies to you, you will automatically be sent a notification.
If you have questions about your own personal tax situation, we recommend reaching out to a tax professional.

Will OSC own our intellectual property?

Per our Fiscal Sponsorship Agreement, you retain ownership of all your collective's intellectual property. If you would like us to hold non-monetary assets, such as trademarks, please reach out.

Can we receive international contributions or pay out international expenses?

Yes. But be aware that all of OSC’s transactions are denominated in USD and will then be exchanged into other currencies as part of the transaction.

Can you host groups that are based outside of the United States?

Yes!

What is the process for leaving Open Source Collective?

While you entered into an agreement with us when you joined OSC, there is no contractual obligation to stay with us, or with any particular fiscal host on the Open Collective platform.
If you decide to transition to another fiscal host that uses the Open Collective platform, the process is relatively simple. If you “zero out” the funds in your account and decide to close it, you can also archive/delete your collective if you are ending your collective.
If you decide to transfer your funds to a fiscal host not on the Open Collective platform or to a new entity (one that you have set up or another fiscal host/sponsor), please reach out to us.
If you wish to close out with OSC, but still want to use the Open Collective platform to manage your collective's funds, you can also become an independent collective.
Last modified 2mo ago
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