US Stocks - W-8 BEN form

:eyes:

Well done on the form it looks simple

Kudos on the :alien: emoji :joy:

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It wasn’t easy to liven this form up but we had to add our own touch to it :grin:

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I love the legal term for foreigners in US law, especially “Alien of extraordinary ability” normal aliens need not apply :wink:

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Do we all have to fill one of these out before buying US Stock? If so where do we find it?

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Yes you’ll need to complete the form first, it’s on the US stock’s screen & in your profile menu :slight_smile:

I must be having a blond day, as I can’t find it :roll_eyes:. Is this in the app?

Not right now, we haven’t launched US stocks yet! :sweat_smile:

So I am being blond! Only I am due to do some test trades for you tomorrow, just trying to get ahead of the game. So not totally blond, just some highlights :see_no_evil:

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Nice to know that non-Freetrade_Team users will get access to the US stocks as early as tomorrow! Looking forward for a wider access to all customers by the end of the month :wink:

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I might be a bit slow but I’m not exactly sure what the 3rd and 4th point mean. Someone could gently explain it?
Thanks!

You’ll find definitions for some of the terms on the form in the ‘Instructions for form W-8 BEN’ here -

https://www.irs.gov/forms-pubs/about-form-w-8-ben

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Thanks!!! I will look into it!

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Couple of questions -

  • I assume it’s fine if we have a w8ben filled in elsewhere to fill in the form at freetrade too?
  • Could this be enabled now so that we’re ready for tomorrow? :slight_smile:
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Yes that’s fine :slight_smile:

Unfortunately that wasn’t possible but you’ll have plenty of time for testing.

Thanks. Sorry to be impatient!

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Don’t know if I’m posting this in the right place but if I fill this form out would it affect the tax on shares that I own elsewhere that pay dividends?

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No, only your Freetrade account will benefit from a reduced withholding tax rate. You will need to file separate W-8BENs with your brokers. My other broker wanted me to print the form, fill, sign, scan and send back to them alongside my ID scan, so I hope yours is more reasonable :smile:

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Okay thank you for letting me know, hopefully it will be as straight forward as freetrade :thinking:

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Do not get used to it, you may as well be disappointed :wink:

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Question about W8-Ben form that someone might know. So my plan is to move to Portugal next year where there is 10 years foreign income tax-free allowance. Is it possible to not apply for a W8-Ben form so that a dividend is not taxed at all? I’m asking this about FT but it extends to all brokers