W-8BEN, “Certificate of Foreign Status of Beneficial Owner for Untied States tax Withholding and Reporting”
Here's how to fill in IRS form W-8BEN
If you are a non U.S. legal person and your primary residence is outside of the U.S. you will be required to fill out a form W-8BEN when applying for a U.S. individual brokerage account. The purpose of the form is:
- To document your foreign status and prove that you do not need to pay taxes in the U.S.
- To claim any applicable treaty benefits.
U.S. account holders who do not submit the W-8BEN form are subject to an automatic 30% tax withholding on all income and gains from the account.
This is how you fill out the form:
Part I – Identification of Beneficial Owner
- Your name (the account holder).
- The country that you are a citizen of.
- Your primary residence address.
- Mailing address (if it’s different from where you live).
- Leave this blank, unless you have a U.S. taxpayer I.D. (you would know if you did)
- Your tax identification in the country where you pay your taxes.
- This field is optional and only if applicable.
- Your date of birth
Part II – Claim of Tax Treaty Benefits
- The country where you (the account holder) live and pay taxes.
- This field is only filled out if applicable. If not applicable leave blank.
Part III – Certification
Signature and the date the form was signed.
Curious as to how to open a brokerage account? Check it out here.