US Stocks - W-8 BEN form

#1

:eyes:

Well done on the form it looks simple

Kudos on the :alien: emoji :joy:

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Update on US stocks
(Alex Sherwood) #2

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

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#3

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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(Stu) #4

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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(Alex Sherwood) #5

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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(Stu) #6

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

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(Alex Sherwood) #7

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

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(Stu) #8

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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(Vladislav Kozub) #9

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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(Matteo) #10

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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(Alex Sherwood) #11

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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(Matteo) #12

Thanks!!! I will look into it!

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(Kenny Grant) #13

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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(Alex Sherwood) #14

Yes that’s fine :slight_smile:

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

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(Kenny Grant) #15

Thanks. Sorry to be impatient!

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(James Hickling) #16

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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(Vladislav Kozub) #17

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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(James Hickling) #18

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

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(Vladislav Kozub) #19

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

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