Hi I’m new here, I tried to tap for my free share. It said I had to top up then when I topped up it said I had to fill in a W8-BEN? I cannot find any details of what this is or where I can fill it out on the site,
Can anyone help?
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Its what is required of all financial institutions by the big old USA.
Basically you aren’t going to get taxed by US.
Edit- or at least they tax dividends less
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It’s an American tax form, basically confirming you don’t live in the US so your withholding tax rates can be reduced from 30% to 15%, or to 0% if your shares are held in a SIPP
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Thanks so much, does anyone know where I access one and how I them send to you freeshare to get my free shares?
You should be one built into the app. I know I did mine as part of the on boarding to the app but this could of changed as that was a while ago
Edit: this is what the website states:
- Once you’ve completed account setup, you’ll be guided through a couple of steps:
- The W-8BEN form to let you invest in US stocks.
- Topping up your account.
- Once you’ve topped up and the money has arrived in your account and you have filled out your W-8BEN form, a mystery share will appear in your General Investment Account on your portfolio screen. We’ll grant the share itself in the coming weeks.
So I imagine it’s after the sign up. It’s worth noting you also need to top up your account and payment to the app take 2 to 3 working hours so it wouldn’t appear in your app till Monday
Hi @MN4538 -
The W-8BEN is the US tax exemption form which can be found by hitting the Profile icon to the top-right of the Portfolio screen, then scrolling down until you see the option to sign in-app. You should also be prompted so sign the W-8BEN if you try to buy a US stock. Just drop me another message here if you can’t find it.
Thanks to @Rollingskies and @Jonny for the help! 
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Thank you so much I’ll look now xx
Is this usually approved instantly? Can’t see any confirmation. Not for the free share just the tax form.
Also I can’t remember being asked for a reference number. Another broker has asked for one (also asked for a screenshot chat host absolutely clueless but at least they let you buy whole shares) would that be a bank account or broker account number?
Yes the tax form is just a declaration for US authorities and is immediately submitted. There’s no approval but you will have to resubmit it every few years.
A reference number for the W8-Ben? Not sure that I follow you. Can you clarify what you mean?
Another broker (better to have 2) asked for it and can’t remember if free trade asked for it or not. It’s not required information anyway (didn’t see that bit).
More importantly though do I get any confirmation whether it’s been accepted or not? I know you can’t help what other brokers do but they say it’s under review (and reduced rate will be activated on 1st of next month) and Free Trade says nothing though the w8-ben form itself has been removed.
Really do need to know for sure if it’s been accepted and gone through. For peace of mind really.
Contact In App support, they will confirm for you. Do you have any pending free shares this would also imply the form has been processed.
I believe these are automatically accepted. The only reasons they might not be are if you may have to pay US taxes for any reason (ie you’re a citizen).
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