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Video instructions and help with filling out and completing Form W-8 vs. Form W-8eci

Instructions and Help about Form W-8 vs. Form W-8eci

Hey youtube so in this video i wanted to go over the irs form w8 eci um so i want to go over kind of under what circumstances you're going to need this so who would have to fill this form out and when you would likely get a request from a withholding agent to complete it so in this example we have a w8eci here and the company that's completing this online product sales limited it's a uk corporation and so uk corporation here online product sales sells inventory to us customers and so they have an office in the us at this miami fake address they store the inventory there they sell it to us customers so why do they need to fill this wa eci out the wa dci is provided to a withholding agent when they think that your business is one it's engaged in u.s trader business and two it has u.s source income that's effectively connected with the u.s trader business if you meet both of those qualifications then you have u.s source effectively connected income you have to file a tax return and pay taxes on it so at the end of the year this company is going to need to file a form 1120 f tax return report its u.s source income and paying the taxes that they owe on the net profits right so part one is pretty straightforward it's just the name of the company where it's incorporated um the type of the entity down here you would click whatever is the appropriate entity type so this is a corporate editing if you're an individual person you'd have your name there and you can hit individual partnership of course if that's what's applicable but in this case we have a...