The W-8 form is a series of forms used by foreign individuals and entities to certify their non-U.S. status to the United States Internal Revenue Service (IRS). These forms are required by financial institutions and other withholding agents when dealing with non-U.S. persons.
Here are some common types of W-8 forms:
- W-8BEN: Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding. This form is used by individuals who are not U.S. citizens but receive income from U.S. sources, such as interest, dividends, rents, or royalties.
- W-8BEN-E: Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities). This form is used by foreign entities, such as corporations or partnerships, to declare their status as non-U.S. entities for tax purposes.
- W-8ECI: Certificate of Foreign Person’s Claim That Income Is Effectively Connected with the Conduct of a Trade or Business in the United States. This form is used by foreign individuals or entities that derive income from a trade or business conducted in the United States.
- W-8EXP: Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding. This form is used by foreign governments, international organizations, and foreign tax-exempt organizations to claim exemption from certain U.S. tax withholding.
- W-8IMY: Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding. This form is used by foreign intermediaries, flow-through entities, and U.S. branches of foreign entities.
Completing the appropriate W-8 form helps the IRS determine the correct amount of tax to withhold on payments made to foreign persons. It’s important for individuals and entities to provide accurate and up-to-date information to avoid unnecessary withholding.