What is Form W-8BEN?
"Form W-8BEN" is issued by the U.S. Internal Revenue Service and filled out by the account holder, declaring that he or she is not a U.S. citizen and requesting exemption from relevant U.S. taxes. Valid for three years after declaration. Before the three years expire, you need to fill out the form again and submit the application.
In order to comply with the Internal Revenue Service ("IRS") tax reporting requirements, non-U.S. persons must submit IRS Form W-8BEN to the IRS and Schwab, reporting their country of residence to verify their status as a non-U.S. citizen or resident. Schwab will withhold U.S. taxes from non-U.S. persons based on the country of residence reported by the person on IRS Form W-8BEN.
How to fill out Form W-8BEN?
Line1: Name.
Line 2: Nationality (if you are Chinese, just write CHINA. If you have a Canadian green card but have not become a Canadian citizen, still fill in CHINA, unless you have become a Canadian citizen, then fill in your new nationality).
Line 3: Home address (including street number and house number). You cannot use a post office rented mailbox as the address.
Line 4: Mailing address (no need to fill in if it is the same as your home address).
Line5: U.S. tax number (leave blank or fill in N/A if you don’t have one).
Line 6: Other country tax numbers (if in China, leave it blank or fill in N/A; if in Canada, fill in the Canadian SSN number).
Line 7: If you are asked to fill out W-8BEN because you need to open an account with a company, then fill in the account number you opened with the company) If you do not have one, leave it blank.
Line8: Birthday (month-day-year).
Line 9: Fill in your place of residence. If you live in China, fill in CHINA. If you live in Canada, fill in CANADA.
Line10: Leave it blank unless otherwise specified.
This is the end of this issue on Form W-8BEN. If you want to get more knowledge about Form W-8BEN, please continue to pay attention~
