Friday, March 14, 2014

IRS Revised W-8BEN For Individuals - What Form Do You Use For Entities?

The Internal Revenue Service (IRS) has released revised IRS Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding (Individuals)). The IRS has also released revised IRS Instructions for Form W-8BEN .
Generally, certain foreign persons are required to provide IRS Form W-8BEN to their withholding agents or payors with regard to certain income payments, including fixed or determinable annual or periodical income (FDAP income) from US sources, in order to:

  • establish that such persons are not US persons;
  • claim that they are the beneficial owners of the payments; and
  • claim income tax treaty benefits, if applicable, for the purpose of chapter 3 of the US Internal Revenue Code (IRC).
  • The revised IRS Form W-8BEN modifies, Line 8 to request the date of birth for a beneficial owner who holds a financial account with a US office of a financial institution.
IRS Form W-8BEN has been updated to reflect the documentation requirements of IRC chapter 4, i.e. the Foreign Account Tax Compliance Act (FATCA).

  • IRS Form W-8BEN is now used exclusively by individuals.
  • Entities should use IRS Form W-8BEN-E, however,
  • the new W-8BEN-E is still in draft form.

We believe that you use the old W-8BEN for entities, until the new one (coming out soon) for entities, W'8BEN-E comes out.

Have an IRS Problem?

Contact the Tax Lawyers at 
Marini & Associates, P.A.
for a FREE Tax Consultation at: or or
Toll Free at 888-8TaxAid ( 888 882-9243888 882-9243 )

No comments:

Post a Comment