Form W-8BEN Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding Rev. February 2006 Department of the Treasury Internal Revenue Service OMB No. 1545-1621 Section references are to the Internal Revenue Code. See separate instructions. Give this form to the withholding agent or payer. Do not send to the IRS* Do not use this form for A U*S* citizen or other U*S* person including a resident alien individual A person claiming that income is effectively connected with...the conduct of a trade or business in the United States A foreign partnership a foreign simple trust or a foreign grantor trust see instructions for exceptions A foreign government international organization foreign central bank of issue foreign tax-exempt organization foreign private foundation or government of a U*S* possession that received effectively connected income or that is claiming the applicability of section s 115 2 501 c 892 895 or 1443 b see instructions Note These entities should...use Form W-8BEN if they are claiming treaty benefits or are providing the form only to claim they are a foreign person exempt from backup withholding. A person acting as an intermediary Note See instructions for additional exceptions. W-8ECI W-8ECI or W-8IMY W-8ECI or W-8EXP W-8IMY Identification of Beneficial Owner See instructions. Part I Name of individual or organization that is the beneficial owner Type of beneficial owner Grantor trust Central bank of issue Instead use Form W-9 Individual...Country of incorporation or organization Disregarded entity Complex trust Estate Tax-exempt organization Partnership Government Corporation International organization Simple trust Private foundation Permanent residence address street apt. or suite no. or rural route. Do not use a P. O. box or in-care-of address. City or town state or province. Include postal code where appropriate. Country do not abbreviate Mailing address if different from above U*S* taxpayer identification number if required...see instructions SSN or ITIN Foreign tax identifying number if any optional EIN Reference number s see instructions Claim of Tax Treaty Benefits if applicable I certify that check all that apply a If required the U*S* taxpayer identification number is stated on line 6 see instructions. c The beneficial owner is not an individual derives the item or items of income for which the treaty benefits are claimed and if applicable meets the requirements of the treaty provision dealing with limitation on...benefits see instructions. d U*S* trade or business of a foreign corporation and meets qualified resident status see instructions. e b within the meaning of the income tax treaty between the United States and that country. Form 8833 if the amount subject to withholding received during a calendar year exceeds in the aggregate 500 000. Special rates and conditions if applicable see instructions The beneficial owner is claiming the provisions of Article rate of withholding on specify type of income...treaty identified on line 9a above to claim a Explain the reasons the beneficial owner meets the terms of the treaty article Notional Principal Contracts of the.
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Instructions and Help about IRS W-8BEN
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How to fill out IRS W-8BEN
Instructions and Help about IRS W-8BEN
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How to fill out IRS W-8BEN
Filling out the IRS W-8BEN form requires several steps to ensure compliance. First, you must provide your personal information, including your name, country of citizenship, and address. Next, indicate your foreign status and fill out part II if applicable, claiming any tax treaty benefits. Finally, sign and date the form to certify the accuracy of the information provided.
About IRS W-8BEN 2006 previous version
What is IRS W-8BEN?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS W-8BEN 2006 previous version
What is IRS W-8BEN?
IRS W-8BEN is the form used by non-U.S. persons to certify their foreign status and to claim tax treaty benefits. It helps identify the taxpayer to U.S. withholding agents, ensuring they withhold the correct amount of tax on income sourced from the United States.
What is the purpose of this form?
The purpose of the IRS W-8BEN form is to establish a non-U.S. individual's status for tax purposes and to communicate any applicable reductions in withholding tax rates as per U.S. tax treaties. This form is essential for preventing unnecessary taxation on payments made to foreign persons.
Who needs the form?
Non-U.S. residents who receive income from U.S. sources, such as dividends, interest, and royalties, need to submit this form. Companies and individuals outside the U.S. that receive payments subject to U.S. withholding tax must provide the IRS W-8BEN to ensure proper tax treatment.
When am I exempt from filling out this form?
You may be exempt from filling out the IRS W-8BEN if you are a U.S. citizen or resident alien. Additionally, if you are receiving income that is not subject to withholding or if you qualify for exceptions outlined in IRS regulations, you may not need to submit this form.
Components of the form
The IRS W-8BEN consists of several key components, including identifying information about the individual, claims for treaty benefits, and a declaration section. Completing each section accurately is crucial to ensuring compliance and availing tax benefits appropriately.
What are the penalties for not issuing the form?
Failing to submit the IRS W-8BEN when required can lead to significant tax penalties. The IRS may impose a withholding tax of up to 30% on payments made to individuals without the proper documentation, resulting in unnecessary financial burdens and potential audits.
What information do you need when you file the form?
When filing the IRS W-8BEN, you will need to provide your name, address, country of citizenship, and U.S. taxpayer identification number (if applicable). Additionally, you may need details about your income type and any applicable tax treaty benefits.
Is the form accompanied by other forms?
The IRS W-8BEN is typically submitted independently; however, it may be accompanied by other forms depending on the specific circumstances of the income received. For example, U.S. withholding agents may require additional documentation to validate your claims.
Where do I send the form?
The IRS W-8BEN is not submitted directly to the IRS but is provided to the U.S. withholding agent or financial institution from which you are receiving income. Ensure you follow any specific submission guidelines provided by the withholding entity.
FAQ about IRS W-8BEN
What should I do if I realize I've filled out the IRS W-8BEN incorrectly?
If you discover an error on your IRS W-8BEN after submission, you should prepare and submit a corrected version. Make sure to indicate that this is an amended form and include all correct information to avoid confusion. It's also advisable to notify the relevant payor that you are submitting a correction to ensure accurate processing.
How can I verify if my submitted IRS W-8BEN has been received and processed?
To verify receipt and processing of your IRS W-8BEN, reach out to the payor you submitted the form to, as they should have a record of its receipt. Keep in mind that there may be processing delays, so allow some time before making inquiries. Maintaining communication with the payor helps in addressing any potential issues that arise.
Are there specific legal considerations for nonresidents filing IRS W-8BEN?
Yes, nonresidents should consider the implications of their residency status when filing the IRS W-8BEN. Different countries have tax treaties that may affect the withholding tax rate on payments. It's advisable for nonresidents to consult with a tax professional to ensure compliance with all relevant regulations and possible treaty benefits.
What are some common errors to avoid when completing the IRS W-8BEN?
Common errors when filling out the IRS W-8BEN include omitting required information, using incorrect identifying numbers, and failing to sign the form. Ensure that all sections are completed accurately and verify your identification details against official documents before submission to prevent delays or rejections.
Can I e-file the IRS W-8BEN, and are there any technical requirements?
Yes, you can e-file the IRS W-8BEN, but it is essential to use compatible software that meets IRS requirements, as well as ensure you are using a supported browser. Regular updates to software may be necessary to comply with current online filing standards, so check with your provider for specific technical guidelines.
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