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Form W-8BEN (Rev. October 2021) Department of the Treasury Internal Revenue Service Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals) For use by individuals. Entities must use Form W-8BEN-E. Go to www.irs.gov/FormW8BEN for instructions and the latest information.
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.
Sample W-8BEN – TYPICAL INDIVIDUAL Form W-8BEN (Rev. October 2021) Department of the Treasury Internal Revenue Service Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals) For use by individuals. Entities must use Form W-8BEN-E.
A Form W-8BEN is a required IRS document for foreign individuals living outside the United States who earn income from a U.S. source. The form verifies an individual’s country of residence and can establish a lower tax withholding rate on income for people residing in qualifying countries.
15 lut 2024 · What Are W-8 Forms? W-8 forms are Internal Revenue Service (IRS) forms that foreign individuals and businesses must file to verify their country of residence for tax purposes, certifying that...
Understanding the W-8BEN form is crucial for foreign businesses hoping to hire foreign employees as it enables them to help employees claim tax treaty benefits, avoid excessive withholding taxes, and ensure compliance with U.S. tax regulations.
This guide defines what IRS form W-8BEN is, its purpose, whether the IRS requires it, when and who should submit it, and to which parties it should be sent. How to fill out the tax form using IRS Instructions for Form W-8BEN is also covered.
