Enter your legal name (determined by reference to your legal identity in your country of incorporation or organization). Check this box to certify that you are an international organization described in section 7701(a)(18). If you are another type of entity, enter the country under whose laws you are created, organized, or governed.

• Withholding at a 30% rate is not required on amounts paid under the terms of a notional principal contract whether or not a Form W-8ECI is provided (except when a payment made under such contract is U.S. source income, such as a dividend equivalent amount under section 871(m)).
• See the Instructions for Form W-8BEN-E for further information for when a beneficial owner is required to complete line 15.
• If you check reporting Model 1 FFI, reporting Model 2 FFI, or participating FFI, you must complete line 13, later.
• Any information, opinions or views provided in this document, including hyperlinks to the RBC Direct Investing Inc. website or the websites of its affiliates or third parties, are for your general information only, and are not intended to provide legal, investment, financial, accounting, tax or other professional advice.

If the beneficial owner provides the separate statement after it has provided the Form W-8BEN-E, it must indicate that the statement relates to the applicable form. Alternatively, you may choose to apply only the claim made by the entity, provided that the entity may be treated as the beneficial owner of the income. If, however, inconsistent claims are made for the same portion of a payment, you may either reject both claims and request consistent claims for that portion of the payment, or you may choose which reduction in rate to apply. what is a w8 Complete Part II for a disregarded entity that has its own GIIN and is receiving a withholdable payment, or for a branch (including a branch that is a disregarded entity that does not have a GIIN) operating in a jurisdiction other than the country of residence identified on line 2. For example, assume ABC Co., which is a participating FFI resident in Country A, operates through a branch in Country B (which is a Model 1 IGA jurisdiction) and the branch is treated as a reporting Model 1 FFI under the terms of the Country B Model 1 IGA.

Will I Get a Tax Slip for the New First Home Savings Account?

In addition, if you are not using this form to document a financial account described above, you may provide the FTIN issued to you by your jurisdiction of tax residence on line 9b for purposes of claiming treaty benefits (rather than providing a U.S. TIN on line 8, if required). Any person, U.S. or foreign, that has control, receipt, custody, disposal, or payment of U.S. source FDAP income subject to chapter 3 or 4 withholding is a withholding agent. The withholding agent may be an individual, corporation, partnership, trust, association, or any other entity, including (but not limited to) any foreign intermediary, foreign partnership, and U.S. branches of certain foreign banks and insurance companies. For example, partnerships, common trust funds, and simple trusts or grantor trusts are generally considered to be fiscally transparent with respect to items of income received by them. You may accept this certificate and treat an entity as an owner-documented FFI only if you are a designated withholding agent under the chapter 4 regulations.

• You must also provide the withholding agent with the specific category of FFI described in Annex II of the IGA.
• The last form on our list (Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting) is only used by intermediaries, flow-through entities, and certain U.S. branches.
• If an entity receiving a withholdable payment selects a certified deemed-compliant FFI status on line 5 of Form W-8BEN-E but does not complete the corresponding required certifications in Part V, the form is invalid for chapter 4 purposes.
• By checking this box you will be treated as having provided an explanation for not providing an FTIN on line 9b.
• W-8BEN is an IRS form used by individual nonresident aliens (NRA) to report information to withholding agents, payers, or FFIs if they are the beneficial owner of an amount from U.S. sources subject to income tax withholding or the NRA account holder at a foreign financial institution (FFI).

Yes — as part of your RBC Direct Investing account documentation and to meet the IRS requirement, you must update and complete the W-8BEN form every three years, even if there is no change in your personal information. With a current W-8BEN in place, you may qualify for the reduced rate of 15 per cent tax on dividends, or zero tax on interest. Although filling out Form W-8BEN by foreign non-resident aliens may be a tedious task, due to the numerous tax treaties the U.S. government has with other countries, it will be well worth the time spent in many cases. Foreign individuals who are students and researchers should enter specific withholding rates. The Internal Revenue Service, America’s tax authority publishes all of its forms and instructions at , including the W-8BEN form and Instructions for Form W-8BEN.

Understanding Form W-8BEN: Purpose and When to Use It

Simply put, US organizations require these forms in order to calculate how much tax they should hold from foreign suppliers, an activity which is complicated due to different tax treaties US has with different countries around the world – such as a double taxation treaty between the US and UK. Nonqualified intermediary (NQI) that provides an alternative withholding statement. If you’re not a resident of the country where you have citizenship, you should enter your country of residence (instead of your country of citizenship).