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Instructions for completing w-8ben Form: What You Should Know

PART II; Line 2: Identification — Date of birth. Enter your date of birth on this line for all years  Part III. Line 3 — Beneficial owner's tax home — Enter the address of your real property (including any attached condominium, cooperative, and ownership interest) where you are allowed to establish a principal residence because your primary residence is outside the United States. Part IV. Line 4: Number of children. Enter the number of children who will receive the income and benefits to be excluded from income. Line 6: Form of payment — Enter the value of the payment in dollars and cents. Line 7: Amount of excluded income — Enter the amount of the income to be excluded from income on line 6, along with the amount it will be withheld from each Form W-8BEN (Individual) and W-9. The amount of income to be excluded from each Form W-8BEN depends on which line is used and which form is filled out for that individual. Line 8 — Payment type (see note) — If you are an independent contractor, enter the income tax withheld from your payments. If you are the owner of a disregarded entity (including a sole proprietorship) or a corporate owner, enter the value of the payments in terms of dollars and cents. If you are an individual or employee reporting withholding on Form 1040 (Individual Income Tax Return) for the payees that you pay on your behalf, enter “I,” as in I.R.C. 1, line 1 (a) or  “K,” as in I.R.C. 1, line 2 (b), whichever is appropriate. If you don't qualify for I.R.C. 1A, line 1 (a) and I.R.C. 1B (b), lines 2 and 3, you must enter 1R, line 1 (a) and 1K, line 2 (b). Do not enter “K” under “number of children”. If your income is from a partnership, include as much of your net income from your partnership (including the income from shares you receive upon the sale or exchange of such shares) as is reported on your return for the tax year. You may obtain an official form showing your withholding from Form W-4-Form W-8BEN, available at SEC.gov and SEC.gov, or from your payer.

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Video instructions and help with filling out and completing Instructions for completing form w-8ben

Instructions and Help about Instructions for completing form w-8ben

Hello everybody this video is especially for fellow filmmakers who live outside of the United States and have to fill in the wabe and form for the IRS to for a certification of foreign status and so that they don't get double texts so in the US and in their home country this version here is filled in for the Netherlands and yet just let started you should be the same for every other country as well let's get started so part 1 I made up a name here it's of course very obvious your name your first name and your name then your country of your citizenship street address city and town and then of course again the country if your mailing address is the same just write in to be sure same as above and everybody is fine in the Netherlands you have a social security number known as BSN Berger service number and yeah you just fill this in here and you're good to go then you can fill in your birth date it's very obvious as well and then we come to the most important part and don't make any mistakes here at number 9 you fill in the Netherlands if you're in an other country of course obvious type your other sorry the name of your country and then the most important is the special rates and conditions because you don't want to get double text you want to pay % tax in the States and you pay all the texts in your own country so what's very important here is that you write type in 7 and 1 what stands for article 7 paragraph 1 if you only type 7 or only 1 you will get that form back and without any explanation just...

FAQ - Instructions for completing form w-8ben

Can anyone explain the W-8BEN form to me? I have money that I should receive from the US for my work, and they asked for me to fill the W-8BEN. Do I really need to pay 30% in taxes?
If you are completing a W8BEN for work you did outside the US, the presumption would normally be that your income is NOT subject to withholding of US tax, which makes sense if you are a non-US individual working from outside the US.As for completing the form:Part ILines 1u20134 should be pretty self explanatory-you put your name, country of citizenship and addressLine 5 is for US taxpayer ID if you have one-you may not, but note there are some situations where you need to obtain oneLine 6 is for your foreign tax ID-you probably have one depending on your countryLine 7 is only needed if whoever is withholding tax needs to identify you and you do not have a US tax ID.Line 8 self explanatoryPart IILine 9-what country do you reside in-self explanatoryLine 10-If you are subject to withholding but qualify for special rates under a tax treaty between your home country and the US, you enter that information. This may require a conversation with a US tax professional or reading the relevant tax treaty at: United States Income Tax Treaties A to ZPart IIIShould be self explanatory you just sign and date the form.You can also read the instructions at: About Form W-8 BEN
How should I fill out Form W-8BEN from Nepal (no tax treaty) for a receipt royalty of a documentary film?
You are required to complete a Form W-8BEN if you are a non-resident alien and earned Royalty income (in this case) from a US-based source.The purpose of the form is to alert the IRS to the fact you are earning income from the US, even though you are not a citizen or a resident of the US. The US is entitled to tax revenues from your US-based earnings and would, without the form, have no way of knowing about you or your income.To ensure they receive their u201cfairu201d share, they require the payor to withhold 30% of the payment due to you, before issuing a check for the remainder to you. If they donu2019t withhold and/donu2019t report the payment to you, they may not be able to deduct the payment as an expense, and are subject to penalties for failing to withhold - not to mention forced to pay the 30% amount over and above what they pay to you. They therefore will not release any payment without receiving the Form W-8BEN.Now, Nepal happens not to have a tax treaty with the US. If it did and you were subject to Nepalese taxes on that income, you could claim a credit for the taxes paid to another country, up to the entire amount of the tax. Even still, you are entitled to file a US Form 1040N, as the withholding is charged on the gross proceeds and there may be expenses that can be deducted from that amount before arriving at the actual tax due. In that way, you may be entitled to a refund of some or all of the backup withholding.That is another reason why you file the form - it allows you to file a return in order to apply for a refund.In order to complete the form, you can go to the IRS website to read the instructions, or simply go here: https://www.irs.gov/pub/irs-pdf/...
Can I sign a W-9 Form if I am not an American citizen and I live in Europe?
A W9 form should only be used if you are a US person, meaning US citizen or resident alien. It sounds like you are neither, so you should most likely be completing a Form W8 Instructions for the Requester of Forms W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY
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