{"id":1616,"date":"2017-08-10T21:42:34","date_gmt":"2017-08-10T21:42:34","guid":{"rendered":"http:\/\/www.patellawoffices.com\/blog\/?p=1616"},"modified":"2017-12-20T21:43:49","modified_gmt":"2017-12-20T21:43:49","slug":"irs-releases-new-irs-form-w8-ben-u-s-persons-beware-of-completing-such-form-at-the-request-of-a-third-party","status":"publish","type":"post","link":"https:\/\/patellawoffices.com\/blog\/planning-for-tax-minimization\/irs-releases-new-irs-form-w8-ben-u-s-persons-beware-of-completing-such-form-at-the-request-of-a-third-party\/","title":{"rendered":"IRS Releases New IRS Form W8-BEN: U.S. persons beware of completing such form at the request of a third\u00a0party"},"content":{"rendered":"

The long awaited revised\u00a0IRS Form W8-BEN<\/a>\u00a0has been recently released in July \u00a02017.\u00a0 The major changes to IRS Forms W8, particularly W-8BEN-E (which is still in draft form), have been driven by the changes in the law under FATCA.<\/p>\n

The new\u00a0IRS Form W-8BEN<\/a>\u00a0and its\u00a0instructions<\/a>\u00a0are accessible here.<\/p>\n

Importantly, no U.S. citizen can legally sign and certify they are NOT a \u201cU.S. person\u201d under U.S. federal tax law.\u00a0 Hence, they cannot sign and complete IRS Form W-8BEN.<\/p>\n

The form, as is true with all IRS forms, is signed under penalty of perjury.<\/p>\n

Some key highlights of information on new IRS Form W-8BEN is set out below:<\/p>\n

Importantly, lawful permanent residents (\u201cLPRs\u201d) have a much more complicated analysis to undertake to determine whether they ARE or are NOT a \u201cU.S. person.\u201d<\/p>\n

One of the key considerations of this determination is whether the individual lives in the U.S. or is living outside the U.S. in a country which has a U.S. income tax treaty with the U.S.\u00a0Form W-8 is generally filled out by foreign non-US entities or persons (citizens and corporations) in order to claim exempt status from certain tax withholdings. The form is used to declare an entity\u2019s status as non-resident alien or foreign national who works outside of the United States. The benefit is that these individuals receive a certain tax treaty status that affords them certain right, such as lower withholdings from dividends paid by US corporations.<\/p>\n

W-8 forms are not the simple tax form the average taxpayer can easily navigate. If you\u2019re one of the few taxpayers required by the IRS to fill out Forms W-8, you would be well-served to consult an experience US tax professional with international tax experience.<\/p>\n","protected":false},"excerpt":{"rendered":"

The long awaited revised\u00a0IRS Form W8-BEN\u00a0has been recently released in July \u00a02017.\u00a0 The major changes to IRS Forms W8, particularly W-8BEN-E (which is still in draft form), have been driven by the changes in the law under FATCA. The new\u00a0IRS Form W-8BEN\u00a0and its\u00a0instructions\u00a0are accessible here. Importantly, no U.S. citizen can legally sign and certify they […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_daextam_enable_autolinks":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[122,121],"class_list":["post-1616","post","type-post","status-publish","format-standard","hentry","category-planning-for-tax-minimization","tag-w-8","tag-w-8ben"],"_links":{"self":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts\/1616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/comments?post=1616"}],"version-history":[{"count":1,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts\/1616\/revisions"}],"predecessor-version":[{"id":1617,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts\/1616\/revisions\/1617"}],"wp:attachment":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/media?parent=1616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/categories?post=1616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/tags?post=1616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}