Form W8-BEN, Certificate of Foreign Status of Beneficial Owner for U.S. Tax Withholding, is used by a foreign person to establish both foreign status and beneficial ownership, and to claim income tax treaty benefits with respect to income other than compensation for personal services.

Who needs to fill out form W 8BEN?

The W-8BEN form is applicable to foreign individuals and sole proprietors who earn money or income from U.S. sources. These individuals must provide a completed W-8BEN form to their U.S. client in order to avoid paying tax to the IRS.

How do I complete my W 8 form?

To complete your W-8 form: Go to the Compliance tab and select ‘A recent W-8 or W-9 form confirming your U.S. tax status.’ If you would like to upload a signed W-8BEN or W-8BEN-E form, select ‘Upload a signed form instead’ in the upper right-hand corner. Choose your form type, and then choose the file you’d like to upload.

What happens if I Change my Name on my W-8?

– Any of your information on the W-8 form changes (name change, address change, etc.) – The IRS issues a newer version of the W-8 form. – The life of your current W-8 form runs out. The life span of a W-8 form is 3 years from the date you signed your form. – If the IRS issues new regulations that could impact your payment.

What happens if you don’t fill out form W-8BEN?

Provide Form W-8BEN to the withholding agent or payer before income is paid or credited to you. Failure to provide a Form W-8BEN when requested may lead to withholding at the foreign-person withholding rate of 30% or the backup withholding rate under section 3406. Establishing status for chapter 4 purposes.

When does the life of a W-8 run out?

–          The IRS issues a newer version of the W-8 form. –          The life of your current W-8 form runs out. The life span of a W-8 form is 3 years from the date you signed your form. –           If the IRS issues new regulations that could impact your payment.