If you don’t fill in the form the IRS in the US will tax the dividend at their end as far as I know. So if you don’t want to pay the withholding tax you need to fill it in
I’m currently being taxed on dividends on DeGiro with a W8-Ben. Having looked more into this it seems there’s no way to avoid this because if I’m not signed up with the form the IRS will take a lot more. Taxes…sigh
Edit: If not filled out they will take 30%. For Ireland and UK residents there is a double treaty so it can negate the tax. Need to do more homework on this and see if I can claim the tax back in Portugal
Out of curiosity - must we have a W8BEN if we wish to have an ISA? Is it submitted to the IRS each time we transact?! I personally only really wish to invest in British companies (purely because its the only market that i can honestly say i know a little bit about) so not that eager to submit a form to the American tax authorities. It sets a weird precedent if i we have to submit tax returns to every country we invest in.
What is the process for filling in a W-8 BEN form for FT?
I can’t see anything on the app in my profile.
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