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See instructions. Form W-8BEN-E Rev. 7-2017 Branch treated as nonparticipating FFI. U.S. Branch. Address of disregarded entity or branch street apt. Form W-8BEN-E Rev. July 2017 Department of the Treasury Internal Revenue Service Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting Entities OMB No. 1545-1621 use by entities. Individuals must use Form W-8BEN* Section references are to the Internal Revenue Code. Go to www*irs*gov/FormW8BENE for instructions...
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hello YouTube Jim Bakker here from Montebourg of tax consultants I had to prepare w8 bene for a client and realize that theres nothing good on YouTube about this form so here I am making this video today explaining the purpose and how to complete the form so if you take a step back generally background the w8 bene you see is certificate of status of beneficial owner of united state tax withholding and reporting so this form is going to be necessary when you have a us entity who is making reportable payments to a foreign or non-us entity so reportable payments are and if we go to the instructions here were talking dividends rents royalties premiums annuities compensation like a salary or substitute payments for was si and securities lending or other fixed determinable annual or periodic payments so if you are if you have a foreign entity thats receiving any kind of these payments from a us entity the US entity is by default required to withhold 30 percent of that payment and remit that payment to the to the IRS lets go back here put me back on the screen so this form the purpose of this form is to show the US company that you are not subject to the full 30 percent withholding and to certify that youre its just to certify your status the benefit the status of the beneficial owner so Im gonna go through how like very basic way to complete this form and because theres a lot of options here but most most companies the majority of company is gonna complete it the same way so lets say that you have a nineties Columbus use a treaty so Columbia is in that treaty country but lets go to the de Mexico so lets say you have a a foreign company mexic Mexico company in Mexico and its receiving foreign payment just Maxon corporation receiving royalties from a US company for software licensing out suicidal Mexico chapter three status just an entity type its pretty simple its going to be a corporation or if its a pass-through a discarded entity or partnership but most are going to be corporations and in this example its a Mexican corporation fine and then the chapter four status is a little more complicated it goes through all these different options so FFI is a foreign financial institution so this is all about doing stuff with banks and then so down here this box active non-financial non foreign non-financial foreign entities so its yes Im going to double check non-financial foreign entities so just a regular active non-bank foreign corporation this is gonna be most of these companies if you have a bank or a non-profit or something wacky you should you should find an account that can help you out with this so you dont have to have your payments if youre getting a million dollars you dont want to receive 700000 instead of a million when you do a million and then have 30 percent you sent to the US government you dont want that so make sure is this filled out right okay so youre active non-financial foreign entities you put your address on here Im almost certain...