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W8ben Form 2023 PDF Download : If you are a foreign individual and you are the beneficial owner of the withholding amount, provide Form W-8 BEN to the withholding agent or payee. Submit Form W-8 BEN when requested by the withholding agent or payer, regardless of whether you are claiming a reduced rate or exemption from withholding.
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For individuals outside the United States who earn income from U.S. sources, the W-8BEN form is a crucial document. This form, issued by the Internal Revenue Service (IRS), serves as a certificate of foreign status and helps determine the amount of tax withheld on income earned within the United States. In this article, we explore the ins and outs of the W-8BEN form, providing a clear understanding of its purpose, who needs to fill it out, and the steps involved in its completion.
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The W-8BEN form is a declaration made by non-U.S. individuals to establish their foreign status and claim eligibility for reduced or exemption from U.S. taxation, particularly withholding tax, on income earned from U.S. sources. This income can include various categories such as dividends, interest, royalties, and compensation for services.
How to download W-8BEN Form PDF?
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- Download the first W-8BEN form PDF from the IRS website or link above.
- Correctly fill in your full legal name, postal address and country of citizenship in the form.
- Provide your Taxpayer Identification Number (either your Social Security number or Individual Taxpayer Identification Number).
- Determine your tax residence status (either resident alien or non-resident alien) and fill in the relevant sections.
- If applicable, provide information about any tax treaty benefits you may be eligible for.
- Sign and date the form before submitting it to the concerned party.
Who Needs to Fill Out a W-8BEN Form?
Non-U.S. individuals who are receiving income from U.S. sources and wish to avail reduced tax rates under an applicable tax treaty, or those who want to certify their foreign status to the U.S. withholding agent, need to fill out the W-8BEN form. This applies to individuals who are not U.S. citizens or residents.
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Steps to Complete the W-8BEN Form:
Filling out the W-8BEN form involves several key steps:
- Personal Information: Provide your full legal name, country of citizenship, and country of residence for tax purposes.
- Permanent Address: Include your permanent residential address and mailing address if different.
- Foreign Tax Identification Number (TIN): Depending on your country’s tax regulations, provide your foreign TIN, if applicable.
- Claim of Tax Treaty Benefits: If you are eligible for benefits under a tax treaty between your home country and the U.S., specify the treaty article and country. This can help reduce the rate of withholding tax, if applicable.
- Certification and Signature: Sign and date the form to certify that the information provided is accurate and complete. This certifies your foreign status and makes you eligible for withholding tax exemptions or reduced rates.
- Date of Birth: Include your date of birth for identification purposes.
- Capacity in Which Acting: Indicate whether you are acting as an individual or as a beneficial owner through an intermediary, such as a financial institution.
- Special Rates and Conditions: If you qualify for specific provisions that warrant a reduced or zero withholding rate, provide the necessary details.
Submitting the W-8BEN Form | W 8ben form 2023 download irs
Once you’ve completed the form, submit it to the U.S. withholding agent who is responsible for the payment of the income. This could be a bank, financial institution, or other relevant entity. Some institutions also provide the option to submit the form electronically.
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The W-8BEN form generally remains valid for a period of three years from the date of submission. If there are changes in your circumstances that affect your foreign status or eligibility for treaty benefits during this period, you should submit an updated form.
Instructions for Form W-8BEN (10/2021)
Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals)
Section references are to the Internal Revenue Code unless otherwise noted.
Revised: 10/2021
Future Developments
For the latest information about developments related to Form W-8BEN and its instructions, such as legislation enacted after they were published, go to IRS.gov/FormW8BEN.
What’s New
Guidance under section 1446(f).
The Tax Cuts and Jobs Act (TCJA), added section 1446(f), which generally requires that if any portion of the gain on any disposition of an interest in a partnership would be treated under section 864(c)(8) as effectively connected gain, the transferee purchasing an interest in such a partnership from a non-U.S. transferor must withhold a tax equal to 10% of the amount realized on the disposition unless an exception to withholding applies.
T.D. 9926, published on November 30, 2020 (84 FR 76910), contains final regulations (the section 1446(f) regulations) relating to the withholding and reporting required under section 1446(f), which includes withholding requirements that apply to brokers effecting transfers of interests in publicly traded partnerships (PTPs).
The section 1446(f) regulations also revise certain requirements under section 1446(a) relating to withholding and reporting on distributions made by PTPs. Withholding on transfers of interests in PTPs and the revisions included in the section 1446(f) regulations relating to withholding on PTP distributions under section 1446(a) apply to transfers and distributions that occur on or after January 1, 2023.
The provisions of the section 1446(f) regulations relating to withholding and reporting on transfers of interests in partnerships that are not PTPs generally apply to transfers occurring after January 29, 2021. These instructions have been updated to incorporate the use of this form by an individual who is a transferor of an interest in a partnership subject to withholding on the amount realized from the transfer.
New lines 6a and 6b
New line 6b, “FTIN not legally required,” has been added for account holders otherwise required to provide an FTIN on line 6 (redesignated as line 6a) to indicate that they are not legally required to obtain an FTIN from their jurisdiction of residence.
Line 10, claims of tax treaty benefits
The instructions for this line have been updated to include representations required by individuals claiming treaty benefits on business profits or gains not attributable to a permanent establishment, including for a foreign partner that derives gain subject to tax under section 864(c)(8) upon the transfer of an interest in a partnership and who would be subject to withholding under section 1446(f). The instructions for this line have also been updated to include representations required by individuals claiming treaty benefits under an income tax treaty that provides for treaty benefits related to a remittance-based tax system.
Section 6050Y reporting
These instructions have been updated to reference the use of this form by a foreign individual who is the seller of a life insurance contract or interest therein or who is a recipient of a reportable death benefit for purposes of reporting under section 6050Y.
Electronic signature
These instructions have been updated to include additional guidance included in final regulations issued under chapter 3 (T.D. 9890) concerning the use of electronic signatures on withholding certificates.
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Establishing status for chapter 3 purposes.
Foreign persons are subject to U.S. tax at a 30% rate on income they receive from U.S. sources that consists of:
- Interest (including certain original issue discount (OID));
- Dividends;
- Rents;
- Royalties;
- Premiums;
- Annuities;
- Compensation for, or in expectation of, services performed;
- Substitute payments in a securities lending transaction; or
- Other fixed or determinable annual or periodical gains, profits, or income.
This tax is imposed on the gross amount paid and is generally collected by withholding under section 1441. A payment is considered to have been made whether it is made directly to the beneficial owner or to another person, such as an intermediary, agent, or partnership, for the benefit of the beneficial owner.
In addition, section 1446(a) requires a partnership conducting a trade or business in the United States to withhold tax on a foreign partner’s distributive share of the partnership’s effectively connected taxable income. Also, section 1446(f) generally requires a transferee of a partnership interest (or a broker in the case of a transfer of a PTP interest) to withhold on the amount realized from the transfer by a foreign person when any portion of the gain from the transfer would be treated as effectively connected gain under section 864(c)(8).
Generally, a foreign person that is a partner in a partnership that submits a Form W-8BEN for purposes of section 1441 or 1442 will satisfy the documentation requirements under section 1446(a) or (f) as well. However, in some cases the documentation requirements of sections 1441 and 1442 do not match the documentation requirements of section 1446(a) or (f).
Note. The owner of a disregarded entity (including an individual), rather than the disregarded entity itself, must submit the appropriate Form W-8BEN for purposes of section 1446(a) or (f), or for chapter 3 or 4 purposes.
If you receive certain types of income, you must provide Form W-8BEN to:
- Establish that you are not a U.S. person;
- Claim that you are the beneficial owner of the income for which Form W-8BEN is being provided or a foreign partner in a partnership subject to section 1446(a); and
- If applicable, claim a reduced rate of, or exemption from, withholding as a resident of a foreign country with which the United States has an income tax treaty and who is eligible for treaty benefits.
You may also be required to submit Form W-8BEN to claim an exception from domestic information reporting and backup withholding (at the backup withholding rate under section 3406) for certain types of income that are not subject to foreign-person withholding at a rate of 30% under section 1441. Such income includes:
- Broker proceeds;
- Short-term (183 days or less) OID;
- Bank deposit interest;
- Foreign source interest, dividends, rents, or royalties;
- Proceeds from a wager placed by a nonresident alien individual in the games of blackjack, baccarat, craps, roulette, or big-6 wheel; and
- Amounts of United States source gross transportation income, as defined in section 887(b)(1), that are taxable under section 887(a).
A withholding agent or payer of the income may rely on a properly completed Form W-8BEN to treat a payment associated with the Form W-8BEN as a payment to a foreign person who beneficially owns the amounts paid. If applicable, the withholding agent may rely on the Form W-8BEN to apply a reduced rate of, or exemption from, withholding at source.
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.
A foreign financial institution (FFI) may rely on a properly completed Form W-8BEN to establish your chapter 4 status as a foreign person. The Form W-8BEN should be provided to the FFI when requested. Failure to do so could result in 30% withholding on income paid or credited to you as a recalcitrant account holder from sources within the United States.
Additional information.
For additional information and instructions for the withholding agent, see the Instructions for the Requester of Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY.
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Who Must Provide Form W-8BEN | W8ben form 2023 download
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. If you are the single owner of a disregarded entity, you are considered the beneficial owner of income received by the disregarded entity. Submit Form W-8BEN when requested by the withholding agent, payer, or FFI whether or not you are claiming a reduced rate of, or exemption from, withholding.
You should provide Form W-8BEN to a payment settlement entity (PSE) requesting this form if you are a foreign individual receiving payments subject to reporting under section 6050W (payment card transactions and third-party network transactions) as a participating payee. However, if the payments are income which is effectively connected to the conduct of a U.S. trade or business, you should instead provide the PSE with a Form W-8ECI.
You must provide Form W-8BEN to the 6050Y(b) issuer (as defined under Regulations section 1.6050Y-1(a)(8)(iii)), to establish your foreign status if you are an individual who is the seller of a life insurance contract (or an interest therein) under section 6050Y (excluding a payment of effectively connected income).
You must provide Form W-8BEN to the payor (as defined in Regulations section 1.6050Y-1(a)(11)), to establish your foreign status if you are an individual receiving a payment of reportable death benefits for purposes of section 6050Y or chapter 3. See Regulations section 1.6050Y-4.
Do not use Form W-8BEN if you are described below.
- You are a foreign entity documenting your foreign status, documenting your chapter 4 status, or claiming treaty benefits. Instead, use Form W-8BEN-E.
- You are a U.S. citizen (even if you reside outside the United States) or other U.S. person (including a resident alien individual). Instead, use Form W-9 to document your status as a U.S. person.
- You are acting as a foreign intermediary (that is, acting not for your own account, but for the account of others as an agent, nominee, or custodian). Instead, provide Form W-8IMY.
- You are a nonresident alien individual who claims exemption from withholding on compensation for independent or dependent personal services performed in the United States. Instead, provide Form 8233 or Form W-4.
- You are receiving income that is effectively connected with the conduct of a trade or business in the United States, unless it is allocable to you through a partnership. Instead, provide Form W-8ECI. If any of the income for which you have provided a Form W-8BEN becomes effectively connected, this is a change in circumstances and Form W-8BEN is no longer valid with respect to such income. You must file Form W-8ECI. See Change in circumstances, later.
- You are the trustee of a foreign trust. Instead provide Form W-8BEN-E or Form W-8IMY for the trust.
Giving Form W-8BEN to the withholding agent.
Do not send Form W-8BEN to the IRS. Instead, give it to the person who is requesting it from you. Generally, this will be the person from whom you receive the payment, who credits your account, or a partnership that allocates income to you. An FFI may also request this form from you to document your account as other than a U.S. account. Give Form W-8BEN to the person requesting it before the payment is made to you, credited to your account, or allocated.
If you do not provide this form, the withholding agent may have to withhold at the 30% rate (under chapters 3 and 4), backup withholding rate, or the rate applicable under section 1446. If you receive more than one type of income from a single withholding agent for which you claim different benefits, the withholding agent may, at its option, require you to submit a Form W-8BEN for each different type of income. Generally, a separate Form W-8BEN must be given to each withholding agent.
Note. If you own the income or account jointly with one or more other persons, the income or account will be treated by the withholding agent as owned by a foreign person that is a beneficial owner of a payment only if Forms W-8BEN or W-8BEN-E are provided by all of the owners. If the withholding agent or financial institution receives a Form W-9 from any of the joint owners, however, the payment must be treated as made to a U.S. person and the account treated as a U.S. account.
Expiration of Form W-8BEN.
Generally, a Form W-8BEN will remain in effect for purposes of establishing foreign status for a period starting on the date the form is signed and ending on the last day of the third succeeding calendar year, unless a change in circumstances makes any information on the form incorrect. For example, a Form W-8BEN signed on September 30, 2015, remains valid through December 31, 2018.
However, under certain conditions a Form W-8BEN will remain in effect indefinitely until a change of circumstances occurs. To determine the period of validity for Form W-8BEN for purposes of chapter 4, see Regulations section 1.1471-3(c)(6)(ii). To determine the period of validity for Form W-8BEN for purposes of chapter 3, see Regulations section 1.1441-1(e)(4)(ii).
Change in circumstances.
If a change in circumstances makes any information on the Form W-8BEN you have submitted incorrect, you must notify the withholding agent, payer, or FFI with which you hold an account within 30 days of the change in circumstances and you must file a new Form W-8BEN or other appropriate form.
If you use Form W-8BEN to certify that you are a foreign person, a change of address to an address in the United States is a change in circumstances. Generally, a change of address within the same foreign country or to another foreign country is not a change in circumstances. However, if you use Form W-8BEN to claim treaty benefits, a move to the United States or outside the country where you have been claiming treaty benefits is a change in circumstances. In that case, you must notify the withholding agent, payer, or FFI within 30 days of the move.
If you become a U.S. citizen or resident alien after you submit Form W-8BEN, you are no longer subject to the 30% withholding rate under section 1441 or the withholding tax on a foreign partner’s share of effectively connected income under section 1446. To the extent you have an account with an FFI, your account may be subject to reporting by the FFI under chapter 4. You must notify the withholding agent, payer, or FFI within 30 days of becoming a U.S. citizen or resident alien. You may be required to provide a Form W-9. For more information, see Form W-9 and its instructions.
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FAQ’s-W8ben Form 2023 PDF Download
Q: What is the purpose of the W-8BEN form?
Ans: The W-8BEN form is used by non-U.S. individuals to certify their foreign status and claim eligibility for reduced withholding tax rates or exemptions on income earned from U.S. sources.
Q: Who needs to fill out a W-8BEN form?
Ans: Non-U.S. individuals who are receiving income from U.S. sources, such as dividends, interest, royalties, or compensation, need to fill out the W-8BEN form. This is particularly relevant for those who want to benefit from reduced tax rates under tax treaties or claim foreign status.
Q: Can a U.S. citizen or resident complete the W-8BEN form?
Ans: No, U.S. citizens and residents are not eligible to complete the W-8BEN form. This form is specifically for individuals who are not U.S. citizens or residents for tax purposes.
Q: What information is required on the W-8BEN form?
Ans: The W-8BEN form requires personal information such as name, address, date of birth, and country of citizenship. It also asks for details related to foreign tax identification numbers (TIN), treaty eligibility, and your capacity in which you are acting.
Q: Can I claim treaty benefits on the W-8BEN form?
Ans: Yes, if your country has a tax treaty with the United States, you can claim treaty benefits on the W-8BEN form by specifying the treaty article and your country. This can lead to a reduction in the withholding tax rate on your U.S. income.
Q: How often do I need to renew the W-8BEN form?
Ans: The W-8BEN form generally remains valid for three calendar years from the date it was signed. If there are changes in your circumstances, you should submit an updated form.
Q: Where do I submit the W-8BEN form?
Ans: Submit the completed W-8BEN form to the U.S. withholding agent responsible for the payment of your income. This could be a bank, financial institution, or other relevant entity.
Q: Is the W-8BEN form available online?
Ans: Yes, the W-8BEN form is available on the official website of the Internal Revenue Service (IRS). Many financial institutions also provide downloadable copies of the form on their websites.
Q: Can I make corrections on the W-8BEN form after submission?
Ans: If you make a mistake on the form after submission, you should submit a corrected form to the relevant withholding agent. They will typically use the most recent form on file.
Q: What happens if I don’t submit the W-8BEN form?
Ans: If you don’t submit the W-8BEN form to the withholding agent, they are required to withhold tax at the standard rate as applicable to non-U.S. individuals.
Q: Can I electronically submit the W-8BEN form?
Ans: Yes, some financial institutions allow electronic submission of the W-8BEN form. Check with your withholding agent for their specific submission process.
Q: Can I claim back withheld tax if I didn’t submit the W-8BEN form?
Ans: Yes, even if tax was withheld at the standard rate, you can potentially claim a refund by filing a U.S. tax return if you’re eligible under a tax treaty or other exemptions.
Conclusion: W8ben Form 2023 PDF Download
The W-8BEN form plays a pivotal role in ensuring that non-U.S. individuals receive the appropriate tax treatment for income earned from U.S. sources. By providing accurate and complete information, individuals can benefit from reduced or exempted withholding tax rates as dictated by relevant tax treaties and agreements. While the form may seem intricate, it’s vital to understand its importance and to complete it diligently to maximize your tax advantages while complying with U.S. tax regulations. If you have any doubts or specific circumstances, consulting a tax professional or advisor can provide the guidance you need to navigate this process effectively.