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Degrio - W-8BEN form (substitute) form

  • 22-07-2019 10:56pm
    #1
    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?


Comments

  • 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.

    https://www.investopedia.com/terms/w/w8form.asp


  • 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?

    Ronan


  • 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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