![]() ![]() If you are a foreign investor, filling out this form may significantly lower your tax withholdings. Form W-8IMY is filled out by foreign financial intermediaries.Ī withholding agent will typically request a Form W-8BEN of any foreign client. In other words, nothing the typical tax-payer needs be concerned about. (This is slightly different from Form W-8BEN, which certifies allocated funds, such as dividends from stocks and mutual funds.) Form W-8EXP is filled out by foreign governments, international organizations, banks of issue, tax-exempt organizations, private foundations, and governments of US possessions. Form W-8ECI is used by foreign entities to certify that all income on the form is associated with trade or business within the United States. For example, brokers typically request Form W-8BEN, the form used to lower withholdings from dividends, from foreign nationals. These forms are typically requested by withholding agents, usually firms or brokers and not the IRS. There are many different types of W-8 forms. The benefit is that these individuals receive a certain tax treaty status that affords them certain right, such as lower withholdings from dividends paid by US corporations. The form is used to declare an entity’s status as non-resident alien or foreign national who works outside of the United States. Over the past few months we received many inquiries from clients and parties asked by companies to complete IRS Form W-8.īeware Form W-8 is generally filled out by foreign non-US entities or persons (citizens and corporations) in order to claim exempt status from certain tax withholdings.
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