Guide to completing US tax form W-8BEN
for Individual Clients
What is this guide for?
This document will assist you in completing the W-8BEN form for individual clients. It is important this document is read in
conjunction with the full instructions of the form available at www.irs.gov/pub/irs-pdf/iw8ben.pdf.
This Completion Guide is for information purposes only. It does not constitute legal, financial or tax advice. Note that we
do not provide any tax advice. If you believe you should be completing additional sections of the form or a different form
(available from the IRS website), then please do so or consult your professional tax advisor.
What is a W8-BEN form and who should complete it?
The W-8BEN form is designed to confirm your status as a non-US person and to ensure that you receive the most
beneficial rate of withholding tax applicable to you in respect of your investments in US assets. In addition, Tax regulations
now require the collection of certain information about each account holder’s tax residency and citizenship status.
Important Points
Please do not use white ink or correction fluid anywhere on the form as this will invalidate the form and we will have to
reject it and request a replacement form. If you make a mistake, please start over using a new form.
• Please check any information which has been pre-populated on the form is correct and if it is not, then please contact us
with the correct details so we may update our systems and provide you with an amended version or a new blank form for
you to complete.
• Please enter recognised country names. For example if you live in England, Scotland, Wales or Northern Ireland, enter
United Kingdom as the country name (particularly on line 2 and line 9 if appropriate).
• Please do not abbreviate country names to avoid doubt.
• Joint accounts – each account holder must complete a separate form in their own individual name.
• When complete and signed please return the form using the reply paid envelope provided.
Do NOT use this Form W-8BEN if: • You are NOT an individual • You are a U.S. citizen or other U.S. person, including a resident alien individual
Instead, use Form:
W-8BEN-E
W-9
• You are a beneficial owner claiming that income is effectively connected with the conduct of trade
or business within the U.S. (other than personal services) W-8ECI
• You are a beneficial owner who is receiving compensation for personal services performed in
the United States 8233 or
• A person acting as an intermediary
W-4
W-8IMY
1 Purpose of Form for US tax withholding purposes - Foreign (non-US) persons are subject to US withholding tax at a rate of 30% on income they receive
from the US. If you receive or have received US income, you must provide this form to establish that you are not a US person and claim that you are the
beneficial owner of the income for which the form is being provided and where applicable to claim a reduced rate of, or exemption from, withholding tax as
a resident of a foreign country with which the US has an income tax treaty, for example, United Kingdom. Please note that a reduced rate of withholding tax
may not be applicable to you if you are resident in another country with which the US does not have an income tax treaty.
2 The term “tax regulations” refers to regulations created to enable automatic exchange of information and include Foreign Account Tax Compliance Act
(FATCA), various Agreements to Improve International Tax Compliance entered into between many countries, including the UK, the Crown Dependencies
and the Overseas Territories, and the OECD Common Reporting Standard for Automatic Exchange of Financial Account Information [, as implemented in
the relevant jurisdictions].
Stockbrokers
Instructions and Comments
Part I Identification of Beneficial Owner
1
Name of individual who is the
beneficial owner
Enter your full name (as on your account).
2
Country of citizenship
Enter your country of citizenship.
If you are a dual citizen, enter the country where you are both a citizen and a
resident at the time you complete this form.
If you are not a resident in any country in which you have citizenship, enter
the country where you were most recently a resident.
If you are a United States citizen, you should not complete this form even if
you hold citizenship in another jurisdiction. Instead, please provide Form W-9.
3
Permanent residence address
Insert your permanent residence address.
This must correspond to an address that we have on file for you and will
normally be the address provided on your account opening form (or a later
address where you have moved and advised us of that change of address).
This address is the address in the country where you are resident for purposes
of that country’s income tax.
If you are completing Form W-8BEN to claim a reduced rate of withholding
tax under an income tax treaty, you must determine your residency in
the manner required by the treaty. Ordinarily this is where you have your
permanent residence and where you pay income tax.
Do not show the address of a financial institution, a post office box, or an
address used solely for mailing purposes.
If you do not have a tax residence in any country, your permanent residence is
where you normally reside.
If you reside in a country that does not use street addresses, you may enter
a descriptive address on line 3. The address must accurately indicate your
permanent residence in the manner used in your jurisdiction.
4
Mailing address
Optional. Enter your mailing address only if it is different to your permanent
residence address shown on line 3.
5
US taxpayer identification number
Insert US taxpayer identification number (TIN) if applicable.
This should only be completed if you hold a US Individual Taxpayer
Identification (ITIN). If this applies, complete this section and provide
additional documentary evidence (such as a certificate of tax residence or
Government issued photo identification document showing your address)
that you are not a resident of the US for tax purposes.
6
Foreign tax identifying number
Insert your tax identifying number (TIN).
Provide the tax identifying number issued to you by your jurisdiction of tax
residence unless:
• You have not been issued a TIN, or
• The jurisdiction does not issue TINs.
If you have not provided your jurisdiction of tax residence TIN on line 6, please
provide the explanation and ensure you provide your date of birth on line 8.
7
Reference Numbers
Optional. This may be pre-populated when received by you or you can enter
your account number or other number identifying you to the bank or maybe
left blank.
8
Date of Birth
Format MM-DD-YYYY
If you have not provided your TIN on line 6, provide your date of birth. Use the
following format to input your information MM-DD-YYYY. For example, if you
were born on April 15, 1956, you would enter 04-15-1956.
9
Country
If your country of residence has a tax treaty with the USA and you qualify as a resident of
that country under the terms of that treaty, enter your country of residence to claim tax treaty
benefits (reduced withholding tax rates on US source dividends or other US source income).
If you have any queries regarding your eligibility to claim tax treaty benefits, we recommend
that you seek independent tax advice
10
Special rates and This section is not generally applicable to individual clients and only applies if you are receiving
conditions
types of income other than dividends or interest. Enter details if appropriate.
Part III Certification
Signature
The form must be signed by the beneficial owner or account holder named on line 1 or by a
person with legal authority to sign on behalf of the beneficial owner or account holder.
Date
Enter the date the form is signed in MM-DD-YYYY format
Print name of signatory
Must be completed
Capacity in which
acting
If signed by a person on behalf of the beneficial owner or on behalf of the account holder,
please enter the capacity in which they are acting.
If acting under a duly authorized power of attorney for the beneficial owner or account holder, the form must be
accompanied by the original power of attorney (or a certified true copy) specifically authorizing the agent to execute
the W-8BEN form.
3 The list of countries who hold a tax treaty with the USA is available on the IRS website at:
www.irs.gov/Businesses/International-Businesses/United-States-Income-Tax-Treaties---A-to-Z
4 If in doubt who is the beneficial owner, please refer to the full formal instructions of the form (available at www.irs.gov/pub/irs-pdf/iw8ben.pdf ) for
details of who is the beneficial owner