Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 12-25-2017, 11:37 AM
Junior Member
 
Join Date: Dec 2017
Posts: 1
W-8BEN clarification needed

I am a resident in a foreign country and only come to the US for about 15 days a year. I have a US bank account which is paying a small interest. When I opened the account I provided an address of a friend if mine in the US.
I have now been asked to submit a W-8BEN form.

Instructions for completing the form in the Non-Resident Alien Checklist state: "Complete one of the sections below that applies to you. Do not complete all sections".
However, both Sections 2 and 3 are applicable to me as far as I understand.

1. Is my understanding correct?
2. What should I do?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 12-26-2017, 02:09 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,090
I am a resident in a foreign country and only come to the US for about 15 days a year. I have a US bank account which is paying a small interest. When I opened the account I provided an address of a friend if mine in the US. ========>Nonresident Aliens who receive interest income from deposits with a U.S. bank are generally exempt from taxation on such interest income as long as such interest income is not effectively connected with a US trade or business.


I have now been asked to submit a W-8BEN form. Instructions for completing the form in the Non-Resident Alien Checklist state: "Complete one of the sections below that applies to you. Do not complete all sections".However, both Sections 2 and 3 are applicable to me as far as I understand.

1. Is my understanding correct?========>it depends; basically, If your home country has a tax treaty with the U.S. and you provide a withholding agent with a completed W-8BEN tax form, you will be taxed according to the requirements of that treaty. And then you need to complete sec 2 and 3 of form W8BEN treaties with the US and who submit a completed W-8BEN tax form.


2. What should I do?===========>as mentioned previously



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
W-8BEN question novi1234 For 2016 1 01-18-2017 12:50 AM
Clarification on how to operate scorpstarter S-Corporation 0 01-28-2010 01:11 AM
Need Clarification on Installment Method/Capital Gain griffism Capital Gains 0 03-25-2009 07:58 PM
Need some W-2 clarification ak329 Income 0 03-03-2009 06:26 PM
IRS provides more clarification on Tax Rebate's issued in 2008! TaxGuru For 2008 1 09-13-2008 03:38 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning