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Do I need to complete a W-8BEN form?


If you are not a a U.S. citizen, are a resident in a country outside the United States, and pay taxes to that country, you are required to complete a W-8BEN form to open and maintain an account. Each account signer on an account owned by a tax resident of another country must complete the form. A new form certifying the coutnry of tax residence is requierd every three years the account is open.

Failure to complete the form may result in withholding of Federal tax at a rate of up to 30% on dividends (interest) paid to an account. For additional information about Form W-8BEN, visit the Internal Revenue Services.