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W-8IMY Form

  • 22-08-2011 4:03pm
    #1
    techman
    Registered Users, Registered Users 2 Posts: 102 ✭✭


    Hello,

    Has anyone here ever completed a W-8IMY form for trading in US equities?

    I am looking for advice on what to fill out in one particular sections.

    Thanks,

    techman.
    Tagged:


Comments

  • #2
    Isoaxe
    Registered Users, Registered Users 2 Posts: 74 ✭✭Isoaxe


    Are you sure it's not W-8BEN you should be completing? That's the standard for a retail investor buying shares in the US. It reduces your withholding tax on dividends from 30% to 15% due to the Irish-US double taxation treaty.


  • #3
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    Isoaxe wrote: »
    Are you sure it's not W-8BEN you should be completing? That's the standard for a retail investor buying shares in the US. It reduces your withholding tax on dividends from 30% to 15% due to the Irish-US double taxation treaty.

    Do you know if you are entitled to a refund of the US tax paid, isn't the tax payable to the Irish Revenue 41% on these US dividends?


  • #4
    Seifer
    Registered Users, Registered Users 2 Posts: 2,265 ✭✭✭Seifer


    Isoaxe wrote: »
    Are you sure it's not W-8BEN you should be completing? That's the standard for a retail investor buying shares in the US. It reduces your withholding tax on dividends from 30% to 15% due to the Irish-US double taxation treaty.
    Can you just fill out the form once? Or do you have to do it every time you acquire shares in a different US company?


  • #5
    Isoaxe
    Registered Users, Registered Users 2 Posts: 74 ✭✭Isoaxe


    Seifer wrote: »
    Can you just fill out the form once? Or do you have to do it every time you acquire shares in a different US company?

    You just fill it out once, send it to your broker and they'll sort it out.
    Cute Hoor wrote: »
    Do you know if you are entitled to a refund of the US tax paid, isn't the tax payable to the Irish Revenue 41% on these US dividends?

    The tax of 15% to the IRS is non-refundable, but as I said it will be 30% without the form. The remaining 85% of your US dividend income is taxed at the marginal (Irish) income tax rate.


  • #6
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    Thanks Isoaxe


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  • #7
    techman
    Registered Users, Registered Users 2 Posts: 102 ✭✭techman


    Thanks for the replies.

    I am filling out a W-8IMY Form for an investment club. I am not sure about one particular section.

    Just seeing if anyone here on boards.ie completed one before for a club.

    Here is the form itself.

    Not sure what to select for Line 3 of Part 1.

    I have read the instructions but I am not sure which entity an investment club would be.

    Anyone got an idea?

    Thanks.


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