How to Complete Form W-8BEN with Treaty Benefits

In this video I cover the IRS Form W-8BEN Withholding Certificate for Nonresident Individuals.
For more tutorials on Withholding Certificates, see our playlist below:
• Withholding Certificat...
For a larger database of tutorials, please visit our website and search for your question:
knottlearning....
DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended, and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
#IRS #Taxes #FormW8 #FormW8BEN

[@nicholas5600]

Hi Jason, I am a Jamaican Citizen and I just got a job offer with a US company that will be paying me monthly. Should I fill out the tax treaty section of the form? Looking forwards to your response

[@suchetakalra5794]

Your videos are too good and answer most of the questions. Just quick clarification - Is it Form W-8BEN or BEN-E or Form 8233 for accountants in India receiving payments from US clients? Thank you!

[@salinakif]

Very informative and helpful!

[@dusktor2012]

Who pays the tax then if i'm a contractor outside of the US and signed this form, is it the company/business that pays?

[@raphoton7582]

What do I do if the HR refuses to process the w8ben ?

[@OmarMohammed-fy2he]

I just moved to the US on H1b. The bank asked me to complete W-8 ben. should I use the perm. address as the one in my home country or the one in the US?

[@anthobypierre3376]

Hi Jason , Thank you for all informations provided . I would like to be clear on that please . I am living in Dominican Republic, but my citizen country is Haiti. I work as an affiliate for a company located in USA. for Withdrawal money they ask me to fill out a Tipalti form and it has a 8233 form for tax, the form ask me a lot of informations that I don't have, a person which is outside of USA have fill out taxes form?

[@basia720]

HI Jason. I'm a Canadian Resident selling vacant land in the US. How would I fill out Part II Line 10 om the W-8BEN?

[@JasonDKnott]

The sale of land or real estate in the USA is generally always subject to tax, and there is rarely an exclusion under a treaty. Under the USA-Canada treaty, Article IV - Income from Real Property, makes it clear that the sale of U.S. situs real property is going to be subject to taxes in the U.S.

[@taiwoowoseni9364]

Thank you for the informative video. My country has no tax treaties with US. I work from my country for a US based country. please, How do I fill part II.

[@JasonDKnott]

If you live in a country without a tax treaty and are ineligible to claim treaty benefits, then you simply leave Part II blank

[@diegocaracasfc]

So is it better to no be in a treaty country because you leave it in blank and the US company doesn't withhold taxes?

[@movingdoodles1510]

If so, will they withhold 30% , I mean if my country doesn’t have tax treaties?

[@krupeshmpatel]

Thanks for a nice video. Is there any way to save or reduce withholding on capital gains? May be for US securities?

[@JasonDKnott]

Hello - capital gains on the sale of U.S. securities are generally not subject to U.S. federal withholding taxes, so long as the owner is a nonresident. The broker will withhold taxes on dividends, royalties, and certain types of interest income.

[@tcw00]

Does this also apply to when your spouse has financed a vehicle through the bank. My husband recently received one for the first time. Thanks.

[@JasonDKnott]

The Form W-8BEN is a withholding certificate used to verify foreign tax status. If a bank asks you to complete a withholding certificate to open a bank account or apply for a loan, and you are a non-U.S. person for federal tax purposes, then you would likely use the Form W-8BEN.

[@ESKN]

Can you backdate the w8 form to get back the previous years withheld funds?

[@JasonDKnott]

Backdating the withholding certificate will generally not help. If you had U.S. taxes already withheld from your income, you will need to file a tax return with the IRS to try and reclaim any withholding taxes.

[@JackNota432]

Hey there, great video. I was wondering if you could please help me further. I am going to be an affiliate to a US government grants covid programme from the UK and I'm unsure which articles to mention their is a whirlpool or confusing sentences to deal with. Would appreciate if you could give me a little clarity, Thanks!

[@Nitr0-pc6eh]

Hi Jason, I'm from the UK and would like to join a funded brokerage account to trade futures in the US . They are asking me for A W-8BEN form, Do i still Qualify for a lower percentage because its not a dividend? I'm really new to this and having a hard time understanding the treaty. Any help would be appreciated, Thanks

[@D3NXIE]

Hello Jason, In order to apply for a treaty benefit while filling this form. Is it really obligatory to put my Foriegn Tax Identificaion Number. As this number is only issued on my request in my country and is a huge source of nusiance as they request you to pay taxes anyway just because you requested to have this FTIN and I want to pay taxes in the US with a reduced withholding percentage instead of buying in my home country.

[@tracey7436]

Hi Jason, I live and work in Canada but my part time job is a contract job paid by a U.S. company. They send me a monthly check but no taxes are taken because I will pay the taxes here when I file my own. How do I fill out part II?

[@JasonDKnott]

You shouldn’t need to claim treaty benefits in this case. Only on US source FDAP income that is subject to withholding

[@hermancehorasiccama6271]

Hi Jason, Thanks for the good explanation. Do you know which article in treaty US & Netherlands would apply for Udemy online trainings? Or what would it be called in the US? We sell trainings online via Udemy.

[@maymeng9927]

I have relative Chinese in China is us401k beneficiary. According to traty, w-8ben how much is withholding. Thank you

[@JasonDKnott]

The U.S. and China signed a double tax treaty in 1984. Whether the 401k distributions are subject to taxes will depend upon the tax residency of the recipient, and the provisions of Article 17 of the tax treaty. Please email us to schedule a consultation at: [e-mail] Thank you

[@silviuavramescu4616]

And for România ? Part ll

[@Hafsazkitchenz]

Is it necessary to fill this form and send or not or it’s optional

[@JasonDKnott]

The Form W-8BEN is not filed with the IRS. You complete the form and send it to the withholding agent that requested you to complete the certificate, such as a bank or brokerage firm.

[@Hafsazkitchenz]

@@JasonDKnott Thank you for your reply appreciate it..!! 😊👌

[@Hafsazkitchenz]

@@JasonDKnott my bank requested this form but if Incase I do not fill or send them .. what will happen or if I don’t want to fill any such forms

[@muursnorthwestamexem8581]

Who’s the withholding agent

[@JasonDKnott]

The person or company that will make the payment

[@muursnorthwestamexem8581]

@@JasonDKnott by law do they have to except the document