What do I do with a W8?

What do I do with a W8?

Form W8, W 8BEN or W8 form is used by non-resident aliens who do work and/or make income in the U.S. or by foreign business entities who make income in the U.S. If you’re a legal citizen of the United States, at no point will you have to worry about filling out the form.

Who needs to fill out Form W 8BEN?

Give Form W-8 BEN to the withholding agent or payer if you are a foreign person and you are the beneficial owner of an amount subject to withholding. Submit Form W-8 BEN when requested by the withholding agent or payer whether or not you are claiming a reduced rate of, or exemption from, withholding.

How long is a W8 good for?

Generally, a Form W-8 is valid from the date signed until the last day of the third succeeding calendar year unless a change in circumstances occurs that makes any information on the form incorrect. For example, a Form W-8BEN signed on September 30, 2018, generally remains valid through December 31, 2021.

Why is a w8 form required?

In a nutshell, a W 8 form is used by foreign businesses and non-resident aliens earning income from U.S. sources. Its purpose is mainly to let brokers and mutual fund companies know that the person or company in question is not subject to the usual tax withholding from investment income.

What’s the difference between a W8 and w9 form?

Form W-9 is to be filled out by US workers that have a SSN or TIN, while W-8 forms are filled out by foreign individuals and non-resident aliens who receive income from US sources.

Why is a W8 form required?

What is a W8 tax form?

Form W8-BEN, Certificate of Foreign Status of Beneficial Owner for U.S. Tax Withholding, is used by a foreign person to establish both foreign status and beneficial ownership, and to claim income tax treaty benefits with respect to income other than compensation for personal services.

What is W8 withholding?

What should I do if I receive a completed Form W-8?

When you receive a completed Form W-8, you must review it for completeness and accuracy with respect to the claims made on the form, as well as any information attached to the form, such as withholding statements and beneficial owner withholding certificates associated with a Form W-8IMY.

How to complete a form W-8BEN-E 3?

Simplified Instructions for Completing a Form W-8BEN-E 3 Step 1: Confirm that you are not precluded from using Form W-8BEN-E: Review the situations listed at the top of the Form under the header “Do NOT use this form if.” If any

What are the different types of W-8 forms?

Throughout these instructions, a reference to or mention of “Form W-8” includes Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY.

What is a w-8exp form?

Form W-8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting. Form W-8IMY, Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting.

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