The W-8BEN is a legal document required by the US Internal Revenue Service (IRS) that allows foreign investors to claim tax treaty benefits, including a reduced withholding tax rate.
When adding US trading to a portfolio, you'll be required to complete a W-8 form before you can trade US securities with Selfwealth.
How long is the form valid?
W-8 forms remain valid until 31 December of the third calendar year after signing, unless your personal circumstances change. For example, a form signed on 25 October 2023 remains valid through to and including 31 December 2026.
How do I complete the W-8BEN form?
During the application process, you'll be prompted to complete either a W-8BEN or W-8BEN-E depending on your account type.
Individual, joint, and sole trader accounts (W-8BEN)
Your form will be pre-populated for digital submission. Simply type your name exactly as displayed in Part I of the form (e.g. MR JOHN MICHAEL SMITH) and click Sign and Finish.
SMSF, trust, and company accounts (W-8BEN-E)
You'll need to download, print, and sign the W-8BEN-E form in pen. Once completed, email it to support@selfwealth.com.au and we'll lodge it on your behalf.
Do I need to lodge my form with the IRS directly?
No. Selfwealth's US trading custodian lodges all W-8BEN and W-8BEN-E forms with the IRS on behalf of all members. There's no need to contact the IRS directly.
I've already completed a W-8BEN at another broker — do I need to complete a new one?
Yes. A W-8BEN or W-8BEN-E must be completed for each Selfwealth portfolio you add US trading to, even if you've previously completed one for another broker or share registry.
Need help completing the form?
Selfwealth is unable to provide advice on your individual tax status or declarations. However, we recommend you read the attached guides which provide step by step instructions on how to complete the form for each account type.
- Selfwealth's guide to completing the W-8BEN-E form
- IRS instructions for completing the W-8BEN-E form
If you're still unsure about your tax status after reviewing these resources, please consult your tax adviser.