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FAQ

What is the difference between IRS W-8BEN and W-8BEN-E forms?
Sure, I can address tax issues here. You would use the W-8 Ben for an individual situation. And, you would use the W-8 Ben E for a company situation.Though, the actual completion of the form center on how the US international tax provision taxes the foreign person or company on the income. So, we first apply the tax law based on the fact situation at hand. So, the form completion centers on tax law and treaty law.Then, and if the person or company home country has a specific tax treaty with the US, we would then apply the exact treaty provision for mitigating (reducing) the withholding required.Here, we need to understand how treaties work and apply the most recent treaty or possibly and updated protocol or competent authority position between the US and the home country when we complete the treaty section of the W8-Ben or Ben-E. The above represents the procedure I have used when dealing with this situation. As with all events dealing with the US tax law completing this form correctly and fully provides for the best outcome allowed by tax law and treaty law.I have completed the above based on the fact situation. If the income type or facts change above, the tax results may change for sure. www.rst.tax
Do I need to pra W-9 form to customers asking for it?
A W-9 is for US persons only (companies and individuals). A W-8BEN-E is for foreign companies.It depends on whether you are selling software that is regarded as a product, rather than a license for which you are receiving a royalty.Legally, the software is almost certainly provided under license, and is a royalty. But for tax purposes, if you don't have the right to replicate or resell, it's essentially a product. Think of buying a copy of Windows. That's a product.If that's all you do, there's no need for a W-8BEN-E.So much for the technical mumbo-jumbo. It doesn't really matter. The W-9 request is sent to you by a company's accounts payable department. If you call them and say "I don't have to send you a W-9", they will likely tell you they will have to withhold 30% of your fee on account of tax. To get it back, you'd have to file a US return.The AP clerk would be wrong. So you escalate, right? Go to the AP supervisor, who either doesn't know the answer, or is afraid to risk his job. So he punts to the  VP tax, who calls his external accounting firm. Eventually, the right answer is provided, and it makes its way down the chain, right?  And then your customer puts in place a whole new protocol to figure out just when a W9 or W-8BEN-E is required.Wrong. Nobody wants to play this game. In reality, your customer says, "get a US Employer Identification Number, and fill out a W-8BEN. Otherwise we won't buy from you."And you find a firm like ours, which will charge you C$600 to get the EIN, and another $600 to fill out the W-8BEN-E, and you're done. That's how you make a customer happy (or at least avoid pissing them off).
Which W-8 form should I fill out as an LLC company?
How do they know to request a W-8 instead of a W-9? Are you Foreign?Assuming you need to submit a W-8 instead of a W-9, here are the questions to guide your W-8 decision.Do you have other members in your LLC? If you are the only member, a Single Member LLC is a Disregarded Entity taxed on your personal tax return. So you would submit the W-8BEN.If you have other members, are you subject to the default status or have you elected corporate status?If you are subject to the default status, your LLC is taxed as a partnership so submit the W-8IMYIf you elected Corporate status, submit the W-8BEN-E.https://www.irs.gov/pub/irs-pdf/...Other great answers here. Especially good advice from Carl and Mark, get to a CPA.
Is it possible to buy stocks from outside countries (e.g. NYSE), and how?
I get this question multiple times in my inbox so let me put all the details in a single post.Can I trade/invest in foreign account as an international player?The short answer is YES.But there are number of paper works to be done before you can start trading/ investing in a foreign account.Let us say you want to invest/trade in American stock market as a foreigner.What do you need to get started?A completed account application form. You can get this from the brokers website.As an individual you need to fill out a W-8BEN form for tax purposes. In case you want to trade as an entity then you need to fill W-8BEN-E form.You need to have a passport, in case you don’t have passport any government photo-ID, along with a letter stating that you do not have a passport.A verification of your address, country of residence needs to be done by providing utility bill. Preferably brokers ask for a bank statement. The documents must be in English characters or certified English translation.Which Countries qualify?Most countries can participate on US markets except a handful like Iran, Nigeria etc. You can know this easily by going to a international brokers website and check in the drop down menu if your country is listed or not.You can always pick up the phone and call these brokers if you have additional questions. They will walk you through additional paperwork that you may need to be complaint depending on your personal situation. Try to call multiple brokers as some brokers are easy on their terms if you satisfy basic requirements. Once you have setup your foreign account then you are good to go.Cheers.
How can you fill out the W-8BEN form (no tax treaty)?
A payer of a reportable payment may treat a payee as foreign if the payer receives an applicable Form W-8 from the payee. Prthis Form W-8BEN to the requestor if you are a foreign individual that is a participating payee receiving payments in settlement of payment card transactions that are not effectively connected with a U.S. trade or business of the payee.As stated by Mr. Ivanov below, Since Jordan is not one of the countries listed as a tax treaty country, it appears that you would only complete Part I of the Form W-8BEN, Sign your name and date the Certification in Part III.http://www.irs.gov/pub/irs-pdf/i...Hope this is helpful.
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