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What is W-8BEN form?

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  • What is W-8BEN form?

    I got a mail from my bank asking me to fill W-8BEN form which says "Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting(Individuals).

    Can anyone help me what this form is about?

  • #2
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    • #3
      Your message was posted as anonymous on Facebook wall- (Oct 16th)

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      • #4
        Originally posted by raghunandh View Post
        I got a mail from my bank asking me to fill W-8BEN form which says "Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting(Individuals).

        Can anyone help me what this form is about?
        If the bank is asking for it, then it means you have an interest bearing account or money market account or some other type of account that is generating passive income. They need the W-8Ben to make appropriate tax withholding. You may want to talk to your tax advisor before filling it out.

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        • #5
          Same here.... I got t today .... No idea what it is....

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          • #6
            It's a tax information form, you have to file it whenever a withholding agent (usually an employer) needs your tax info. Americans file W-9, us foreigners file W-8BEN. More info on the IRS website -- http://www.irs.gov/.../Form-W-8BEN,-Certificate-of...

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            • #7
              Just fill it up and send.. Its for tax purposes.. You might got a lot of money in your savings account for which they pay you Interest or got a brokerage account with some stocks that is paying you dividend or got referral money from a bank . In either case they they withheld a little bit of tax.. At the end of the year, you will receive a 1099INT/DIV with some amount withheld by Federal or State and dont forget to include the withheld amount in your taxes too..

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              • #8
                And this is not related to your job or your employer or USCIS or IRS but just the banks and brokerage account..

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