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W-9 or w-8ben Form: What You Should Know

The W-9A Certification Form (Form 8853) is similar to the W-8BEN (Rev. October 2021), but does not have to be used as soon as required by the withholding agent. Note: Form 8853 can be sent using email. Form 8610 (A) (S) Certificate of Foreign Status (Form 8610-A) W-8BEN/W-9A Forms. The W-8BEN and W-9A forms are only used when Form 8582A(s) is not available  Form 8610-A (s) Certification of Foreign Status (Form 8610-A-S) Form 8853 (W-8 or 9) Certificate of Foreign Status (Form 8853-W-8) The Form 8853-W-8 must be used to verify the eligibility of the taxpayer based on the W-8BEN form when the IRS determines a reduction or exemption from US income taxes is not appropriate or appropriate for the taxpayer. Form 8853 (W-9A) Certificate of Foreign Status (Form 8853-W-9A) W9A Certificate of Foreign Status Form (Form 8929) W9A Certificate of Foreign Status (Form 8929) Form 8929(b) Certificate of Foreign Status of a Nonresident Alien Individual (Form 8929-B) Form 8582A Certification of Foreign Status (Form 8852A) Form 8852A (B) Certification of Foreign Status by a Foreign Person (Form 8258) Form 8581A Certificate of Foreign Status (Form 8853-W-81) Form 8581A(p) Supplemental Certificate of Foreign Status — Supplemental Certification (Form 8853-W-81-B) Supplemental Certificate of Foreign Status — Supplemental Certification W-8 Certificate of Foreign Status of a Business Entity (Form 8582) W9A Certificate of Foreign Status (Form 8929) Form 8929 (B) Certificate of Foreign Origin (Form 8929-B) W9A Certificate of Foreign Origins (Form 8929-B) W-8BEN (Rev.

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FAQ - W-9 or w-8ben

Why do banks send a letter to foreign students/workers asking for either theform of W-8BEN or W-9? What form is the right form to return?
I was on a H1B visa when I received such letter. Below is the result of myresearch on this matter. I am not a lawyer and perhaps you should not take allthe words presented here literally but hopefully overall this would answeryour question.Normally banks tax interest income i.e. the income one gains in the form ofinterest paid due to some money they have left with the bank. There is anexception to this rule though If a person has money in a US bank but theylive outside of US and they do not do business within US then IRS does nottax the interest paid on those savings. However in those cases thoseindividuals should explicitly let the bank know abut their status i.e. theylive outside US etc. This is accomplished by submitting the form W8BEN tothe bank.This implies if someone has been living and working in the US long enough andhave filed for example tax return last year then the above status does NOTapply to them. That is the case even if they are neither a green card holdernor a US citizen. In those cases they should send the form W9 instead ofW8BEN.Here are some more information about filling out the form W9. When signing theform W9 it requires you to admit you are a so called u201cUS Personu201d. US citizensand u2018resident aliensu2023 are perhaps two main categories of u201cUS Personsu201d. Thedefinition of US citizen is clear here. As for u2018resident alienu2023 green cardholders are typical examples of a u2018resident alienu2019. But even if you do nothave a green card but have lived in US long enough and for example havefiled tax return last year you are still considered a u2018resident alienu2023 fortax purposes. See here for more information. So you can safely admit that youare a u201cUS Personu201d when filling out the form W9.
Can I do freelance work in my home country when I return in summer fromcollege in the United States? Should I file with a W-8BEN or W-9 form?
If you are a US citizen or permanent resident you are required to reportincome earned outside the country although thereu2019s a pretty large exclusionfrom tax for that income around 100000 I think. If you are neither acitizen nor a permanent resident you are not required to report nonUS incometo the IRS.W9 forms are not filed with the IRS they are forms you fill out for a USemployer so as a freelancer working outside the US thereu2019s no reason toprepare one.W8BEN forms are used to certify foreign status to sources of US income tominimize tax withholding. Again if you are working for yourself and outsidethe US thereu2019s no reason to prepare that form either.The exception might be if your freelance work is for a US company and yourchecks are being cut from the US andor direct deposited to a US bank account.In that case it could get complicated since the rules in the US on who is anu201cemployeeu201d and who is an u201cindependent contractoru201d are complicated. The UScompany would be required to withhold income tax FICA and Medicare if youu2019rean u201cemployeeu201d but not if youu2019re a true u201cindependent contractor.u201d If theywithhold then you may need to look into it further and possibly giving them aW8BEN might help you.Disclaimer This is not legal advice and itu2019s worth exactly what you paid mefor it zero.
Mortgage bank is requiring me to fill W-8BEN form and refusing to accept W-9.Iu2019m on H1-B visa and live in US for the past 3 years. What should I do?
W8BEN is for nonresidents and not for residents. If your bank is asking forthat form chances are they will ask for many other documents such as yourcurrent employer to guarantee your job for n years etc down the line beforeit reaches doc stage. I would look for other mortgage banks and explain yoursituation and ask questions like have you recently within last monthprocessed mortgage applications for people on H1B or not.If you have loan contingency in your offer it is a good idea to back off fromthe offer and do a full loan approval before you try your next offer. Or askfor more time and find a big bank such as Wells Fargo Bank of America ChaseCiti etc. I found more success with these 4 compared to many other smallerbanks. In addition you need a loan agent who can vouch for you and can talkto underwriting and processing rather than mere salespeople most loan agentsare just sales peopleYou can always complain to CFPB. They are quick it is a free federalgovernment service and usually you get results within 2 weeks. Banks do notwant to keep complaints pending with CFPB. All it does is make the bankreview their process. When one large bank asked unnecessary documents from meI have used their service and bank obliged.Disclaimer Even though as a consumer I have done many mortgage loans 20from many banks and have gone through many tough situations consider this asgeneral in nature and just for info and cannot replace individualizedprofessional help.
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