Funds from purse money earned at Gulfstream Park are automatically deposited into an account created for the owner (individual account) or owners (joint account when there is more than one owner listed in the program). If it is a joint account, one of the partners must be designated as the authorized owner and will have control over funds in the account. There is a 72-hour hold on all purse money earned.
Owners should contact the Gulfstream Park Horsemen’s Bookkeeper within two weeks of the creation of a new account to provide updated contact information and a W-9 (or W8-BEN for international accounts) for the account and, when necessary, to designate an authorized owner. If there is no W-9 on file, a 30% Federal tax withholding will be deducted from gross earnings and an annual $50 penalty will apply.
The following documents MUST be on file with the Gulfstream Park Horsemen’s Bookkeeper before a check can be issued to an account holder:
The appropriate tax document
Click here for a W-9. OR Click here for a W-8BEN Canada. OR Click here for a W-8BEN International.
AND a completed and notarized Signature Card
Click here for the Signature Card.
AND a copy of the driver’s license and, in the case of a corporation or LLC, the Articles of Incorporation
FOR JOINT ACCOUNTS, a completed and notarized Appointment of Authorized Owner form
Click here for the Appointment of Authorized Owner form.
FAQs:
How do I contact the Gulfstream Park Horsemen’s Bookkeeper? The Gulfstream Park Horsemen’s Bookkeeper is open 9:30 a.m. until the last race of the day is official on live racing days. The telephone number is (954) 457-6222, but the best way to contact them is via email at gphbc@gulfstreampark.com.
How do I designate an authorized owner? You must complete the Appointment of Authorized Owner form, and each owner on the account must sign the form, and have their signature notarized. You must have an Appointment of Authorized Owner form on file with the Gulfstream Park Horsemen’s Bookkeeper for EACH account. You can return the completed document by email to gphbc@gulfstreampark.com, by fax to (954) 457-6592, or you can drop the form off at the office. Click here for the Appointment of Authorized Owner form.
How do I designate an authorized agent? You must complete the Appointment of Agent by Owner(s) form, and each owner must sign and have their signature notarized. You can return the completed document by email to gphbc@gulfstreampark.com, by fax to (954) 457-6592, or you can drop the form off at the office. Click here for the Appointment of Agent by Owner(s) form.
What documents do I need to provide to request a check? There must be a W-9 or other appropriate tax document on file, as well as a notarized Signature Card, a copy of the driver’s license and, iif the account holder is a corporation or LLC, the Articles of Incorporation. In the case of multiple owner accounts, there must be a Appointment of Authorized Owner form on file. Checks will be issued in the name of the Authorized Owner only, the Gulfstream Park Horsemen’s Bookkeeper does not pay out percentages to partners.
What is the deadline for requesting a check if I want it on the same day? You must make the request in writing or in person at the office by 12 noon. Check will be available by 4 p.m. For requests made after 12 noon, checks will be available the next live racing day.
Can I request multiple checks in one day? You can request checks from more than one account, but you can only request one check per account per day.
Can I transfer funds between accounts? The Gulfstream Park Horsemen’s Bookkeeper does not permit the transfer of funds between accounts, except in the case of a documented private sale of a horse or for an owner to pay a training invoice; the owner must provide a copy of the bill of sale or invoice before the transfer is made.
Can I deposit cash into my account? You cannot deposit cash into a Gulfstream Park Horsemen’s Bookkeeper account, only checks or wire transfers are accepted. Personal checks sill be held from 7-10 business days before the funds are available. Certified checks will be held 5 business days before funds are available. If you are claiming a horse, adequate funds – including the claiming price and 7% sales tax – must be available in your account no less than 60 minutes prior to post time of the race where the claim will be made.
What are the instructions for making a wire transfer? Funds from wire transfers are available upon receipt. Wire transfers can be made from an owner’s bank account to the Gulfstream Park Horsemen’s Bookkeeper account only. Indicate the deposit is for Further Credit to the Owner or Stable Name. Wire Transfer Instuctions: Bank Name: Wells Fargo Bank, 1000 Lakes Dr., #250, West Covina, CA 91790; ABA Routing #: 121000248; Account Name: Gulfstream Park Horsemen’s Bookkeeper Corporation, 901 S. Federal Hwy., Hallandale Beach, FL 33009; Account #: 4830826137; International Wire: SWIFT CODE #WFBIUS6S. There is a $20 fee for each wire transfer, please adjust the amount of the deposit accordingly. There is a $55 fee for a returned wire.
Have You Signed Up for an InCompass Horsemen’s Account?
The easiest way to access you account or request a check is though an InCompass account. InCompass Financial Services (IFS) gives horsemen 24-hour access to their Horsemen’s Bookkeeper accounts online. Both Gulfstream Park and Tampa Bay Downs are participating racetracks. The service is free of charge, and offers owners and trainers the ability to view their account balances, statements, and tax forms, and to request a check, from every participating racetrack, all in one place. Both Gulfstream Park and Tampa Bay Downs are participating racetracks. Click here for a list of all participating racetracks.
To create an IFS account, you will first need to register for an EquineLine.com Universal ID.
Click here to register for an EquineLine.com Universal ID.
Click “Sign Up Now” and fill in the Customer Information. Choose a user name and a password of between 5 and 30 characters (letters and numbers only, no special characters), verify that you are not a robot, and click “continue.” You will be given a chance to review the information you’ve entered and make any necessary corrections. If the information is correct, click “next.” The next page offers Service Options, but you do not need to select any products (be sure to unclick any boxes that are checked). Click “continue” and then click “finish” and your Universal ID will be activated.
Log into InCompass Financial Services and you can link your IFS account to your Horsemen’s Bookkeeper accounts at all participating racetracks.
BEFORE YOU CAN ADD AN ACCOUNT, YOU WILL NEED YOUR ACCOUNT NUMBER, AND YOU WILL NEED TO CALL THE HORSEMEN’S BOOKKEEPER AT THAT RACETRACK TO REQUEST A PIN.
Gulfstream Park Horsemen’s Bookkeeper – (954) 457-6222
Tampa Bay Downs Horsemen’s Bookkeeper – (813) 298-1637
Once you have all account numbers and PINS handy:
Click here to log in to InCompass Financial Services.
Enter your Universal ID and password and click “Login.” Click “Add Account” and choose the racetrack you want from the dropdown menu. Enter the account number and PIN and click “Add Account” under the PIN. Repeat for each account you’d like to access. You will now be able to access all information or request a check for any account, and you can create a consolidated statement from all of your accounts.
STOP BY THE FTHA OFFICE AND WE WILL ASSIST YOU IN OPENING AN INCOMPASS ACCOUNT!