US Stocks - W-8 BEN form

Freetrade Chat 🔥
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: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:

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

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

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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!

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

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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.

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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