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Degrio - W-8BEN form (substitute) form

  • 22-07-2019 10:56pm
    Registered Users Posts: 242 ✭✭ hottipper

    Anybody know what this means?
    Do you want to apply for a reduced withholding tax rate on US source income.

    If i trade us stocks do i get some kind of discount or is this for us citizens only?


  • Registered Users Posts: 662 ✭✭✭ blackwave

    It's a US tax form. It's basically used if you are non-US citizen and have US source income and wish not to be double taxed (by the US and Ireland). As we have a tax treaty the US you should be able to receive relief if you are liable to pay tax, Investopedia have a article on it below. I don't know if trading US stocks counts as US source income but someone here with more experience should be able to help with that.

  • Registered Users Posts: 1,995 ✭✭✭ Sabre Man

    It's for tax on US dividends.

  • Registered Users Posts: 5,228 ✭✭✭ The J Stands for Jay

    If you don't have an Irish bank account, degiro won't let you use this to get reduced US taxes.

  • Registered Users Posts: 11 ✭✭✭ coylerzz

    Question for ye,

    I filled out my W-8BEN form when setting up my account since im investing for dividends.

    1 of my dividend companies just went just went ex div and in the upcoming dividends section it says Reservation Partnerships tax withholding but none of my other companies have that!

    Any ideas?


  • Registered Users Posts: 14 Parom

    That sound you have purchased a stake in Master limited partnership (MLP), Different set of rules apply for MLPs, e.g withholding tax for US non-residents is 37% and you are also required to file a US tax return.

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