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FAQ

What is the difference between IRS W-8BEN and W-8BEN-E forms?
Sure, I can address tax issues here. You would use the W-8 Ben for an individual situation. And, you would use the W-8 Ben E for a company situation.Though, the actual completion of the form center on how the US international tax provision taxes the foreign person or company on the income. So, we first apply the tax law based on the fact situation at hand. So, the form completion centers on tax law and treaty law.Then, and if the person or company home country has a specific tax treaty with the US, we would then apply the exact treaty provision for mitigating (reducing) the withholding required.Here, we need to understand how treaties work and apply the most recent treaty or possibly and updated protocol or competent authority position between the US and the home country when we complete the treaty section of the W8-Ben or Ben-E. The above represents the procedure I have used when dealing with this situation. As with all events dealing with the US tax law completing this form correctly and fully provides for the best outcome allowed by tax law and treaty law.I have completed the above based on the fact situation. If the income type or facts change above, the tax results may change for sure. www.rst.tax
Will we need to fill "W-8BEN-E" to do business in the US as a foreign company?
Yes it nessecary, In conjunction with the new compliance requirements under the Foreign Account Tax Compliance Act (“FATCA”), the IRS has released the new Form W-8BEN-E (the “E” stands for entity). Form W-8BEN-E replaces the old Form W-8BEN, for U.S. taxpayers doing business with foreign entities or entities with foreign subsidiaries. Form W-8BEN-E documents the status of those foreign entities for U.S. income tax, tax treaty benefits, and FATCA purposes.Form W-8BEN-E serves four main purposes, as follows:Establish non-U.S. status;Claim beneficial owner status;Claim exemption from, or reduction in, U.S. withholding tax under Chapter 3 (the original foreign tax withholding laws); andIdentify the entity’s category under Chapter 4 (FATCA).Any U.S. taxpayer engaging in non-product related transactions (i.e., services) with a foreign entity must receive a completed Form W-8BEN-E from that entity, to determine whether that foreign entity is subject to the 30% default withholding on payments to foreign entities. In addition, the completed Form W-8BEN-E will determine whether the foreign entity is eligible for any reduced withholdings related to an applicable tax treaty.Note that IRS has also released a revised Form W-8BEN, for U.S. taxpayers doing business with foreign individuals.In a burst of administrative nightmares, the new Form W-8BEN-E is 8 pages long (as opposed to the old 1-page W-8BEN), and it has 30 different parts. Fortunately, any given foreign beneficial owner need not complete all 30 parts of the form. Rather, it will only need to complete those parts relevant to its particular business. However, all foreign beneficial owners must complete Parts I (Identification of Beneficial Owner) and XXIX (Certification).
How does a sole proprietorship firm in India fill the W-8BEN-E?
This form is used by foreign entities to document their status for some code provision in the US. so if you are a registered entity in India then you can fill up the same but there is myth i.e Sole Proprietorship Firm is a registered legal entity.Basically there is no proper legal registration or way to register the sole proprietorship firm. in the solo firm you got only the tax registration or some other local license. so for the filings any above forms you have to register the legal entity like Pvt ltd company or LLP or OPC etc.in the US pvt ltd company is similar to the INC Corporation & LLP is similar to LLC.
Why would I need to fill out the W-8BEN-E document from the IRS, when I am a German freelancer?
Sure, I can address tax issues here. First, all these forms are the end product of a highly complex US tax law.The US Treasury holds the company (“agent”) making the payments responsible for withholding tax under Sections 1441 (non US persons) and Section 1442 (foreign corporations. Treasury requires a 30% withholding unless the payee provides appropriate documentation (called a certificate) for not withholding as noted in Treasury Regulation Section 1.1441-1(b)(1). So, the company represents the responsible party, here. If the company does not withhold, and they do not have the appropriate documentation or support for not withholding (called a withholding certificate) and the the payee owes tax, Treasury holds the company responsible for paying the tax (Treasury Regulation Section 1.1441-7(b)(1)).However, a non US person working physically from a non US location has foreign source income (Section 862(a)(3)). And, the US does not tax the non US person on such income. So, Treasury does not consider foreign source payments as withholdable payments (Treasury Regulation Section 1.1473-1(a)(1)).So, Treasury does not require the company making the payment to have the payee complete a withholding certificate. However, the company may use the documentation as means for making sure they are dealing with a non US person actually working physically from a non US location. In today’s digital world, the company may be uncertain where the person resides. So some companies may have a policy for obtaining documentation for all payees.So, the W-8 BEN provides the payor with the certification for not withholding as attested by the payee’s signature ‡ the payee has foreign source income not subject to withholding as noted in Treasury Regulation Section 1.1441-(b)(4)(v).A foreign company uses the W8-BEN-E and a non US individual uses the W8-BEN. Each form has its own peculiarities.I have completed the above analysis based on the fact situation. If the facts change, the tax results may change. www.rst.tax