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What Is a IRS form W 8BEN?

What Is a IRS form W 8BEN?

Form W-8BEN (“Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting”) must be submitted by foreign persons who receive certain types of income in the United States.

Who needs to fill out w8ben?

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.

How do I fill out a W 8BEN tax form?

Guide To Fill W-8 BEN Form for Investing in US Stocks

  1. Step 1: Enter Legal Name.
  2. Step 2: Mention your Current Citizenship.
  3. Step 3: Permanent Address.
  4. Step 4: Mailing Address.
  5. Step 5: U.S. Taxpayer Identification Number.
  6. Step 6: Foreign Tax Identifying Number.
  7. Step 7: Reference Number.
  8. Step 8: Date Of Birth.

How do I submit W 8BEN form online?

Submitting W-8BEN tax information

  1. Under the Payments tab, select Profile.
  2. Next, click on the Submit Tax Information link.
  3. Submit No as your answer in Certification of US activities.
  4. Select the appropriate country of incorporation or organisation.
  5. Select the type of beneficial owner.
  6. Enter your address.

Do I need to complete a W-8BEN form?

You must give Form W-8BEN to the withholding agent or payer if you are a nonresident alien who is the beneficial owner of an amount subject to withholding, or if you are an account holder of an FFI documenting yourself as a nonresident alien.

What is the difference between W-8BEN and W 8ECI?

One of the most common is the W-8BEN, which is a certificate of foreign status for a beneficial owner for US withholding and reporting. The W-8ECI is officially known as Certificate of Foreign Person’s Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States.