The W-8 Form is a legal document required by the Internal Revenue Service (IRS) in the United States that allows foreign investors to claim special tax treaty benefits, including a reduced rate of withholding tax.
When adding US Trading to a portfolio, you will be required to complete a W-8 form. You will not be able to trade US securities with SelfWealth until we have received a valid W-8 form.
W-8 forms remain in effect until 31 December three years after the date of signing, unless there are any changes in your personal circumstances. For example, a form signed on October 25, 2020, remains valid through to and including December 31, 2023.
How do I complete the W-8BEN form?
During the application process, you will be prompted for either the W-8BEN or the W-8BEN-E form, depending on your account type.
Individual, Joint and Sole Trader Accounts
If you are adding US Trading to an Individual, Joint or Sole Trader account, your W-8BEN form will be pre-populated for digital submission. All you need to do is type your name exactly as displayed as per Part I of the W-8BEN form (e.g. MR JOHN MICHAEL SMITH) and click Sign and Finish.
Super Fund, Trust and Company Accounts
If you are adding US Trading to a Super Fund, Trust or Company account, you will need to download, print and sign the provided W-8BEN-E form in pen. Once completed, you can send your form to firstname.lastname@example.org so that we can lodge it for you.
Can I get assistance completing the W-8BEN/W-8BEN-E form?
Please note that SelfWealth is unable to provide you with advice in relation to your tax status and this declaration. If you need assistance completing your W-8BEN-E form, please see the below resources:
If you are still unsure about your tax status after viewing the above resources, you should contact the IRS or your tax adviser for advice and further information.
I've already completed a W-8BEN form at another broker, do I have to complete another one?
Yes, you will be required to complete a W-8 (W-8BEN or W-8BEN-E) form each time you wish to add US Trading to a SelfWealth portfolio. This applies even if you have previously completed a W-8BEN or W-8BEN-E form for another broker or registry.
Do I need to lodge the W-8BEN form to the IRS?
Our US Trading Custodian will lodge all W-8BEN and W-8BEN-E forms to the IRS on behalf of all SelfWealth members.
There is no need to contact the IRS directly in regards to the submission of the form.