Instructions For Form W-8imy - Certificate Of Foreign Intermediary, Foreign Flow-Through Entity, Or Certain U.s. Branches For United States Tax Withholding And Reporting - 2017 Page 3
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18You are a foreign reverse hybrid entity (unless you are a
Expiration of Form W-8IMY. Generally, a Form W-8IMY
QDD acting in your QDD capacity) that is not claiming treaty
remains valid until the status of the person whose name is on
benefits on behalf of your interest holders. Instead, provide
the certificate is changed in a way relevant to the certificate
Form W-8BEN-E on your own behalf.
or there is a change in circumstances that makes the
You are the beneficial owner of income that is effectively
information on the certificate no longer correct. The indefinite
connected with the conduct of a trade or business within the
validity period does not extend, however, to any other
United States. Instead, provide Form W-8ECI.
withholding certificates, documentary evidence, or
You are a nonresident alien individual who claims
withholding statements associated with the certificate. If you
exemption from withholding on compensation for
are a QDD, the attachment associated with your Form
independent or certain dependent personal services
W-8IMY used to claim treaty benefits (if applicable) is treated
performed in the United States. Instead, provide Form 8233
as a beneficial owner withholding certificate that is not valid
or Form W-4.
indefinitely.
You are a disregarded entity, other than a hybrid entity that
Change in circumstances. If a change in circumstances
is a disregarded entity claiming treaty benefits on your own
makes any information on the Form W-8IMY (or any
behalf (see above bullet). Instead, the single owner (if a
documentation or withholding statement associated with the
foreign person) should provide the appropriate Form W-8
Form W-8IMY) you have submitted incorrect for purposes of
based on the single owner's status. If you are a disregarded
chapter 3 or chapter 4 (when relevant), you must notify the
entity that is a QDD acting in your QDD capacity, your single
withholding agent within 30 days of the change in
owner (whether or not a QDD) should provide Form W-8IMY
circumstances and provide the documentation required in
if it is a QI.
Regulations section 1.1471-3(c)(6)(ii)(E)(2). You must
You are a QI that has QDD status but are receiving
update the information associated with Form W-8IMY as
payments of U.S. source income that you beneficially own
often as is necessary to enable the withholding agent to
that are not payments in respect to potential section 871(m)
withhold at the appropriate rate on each payment and to
transactions or underlying securities (that is, you are
report such income.
receiving payments that you beneficially own that are not
covered by your QI agreement). Instead, provide the
See Regulations sections 1.1441-1(e)(4)(ii)(D) for the
appropriate Form W-8 based on your status for those
definition of a change in circumstances for purposes of
payments you beneficially own.
chapter 3 and Regulations section 1.1471-3(c)(6)(ii)(E) for
You are a foreign government, international organization,
the definition of a change in circumstances for purposes of
foreign central bank of issue, foreign tax-exempt
chapter 4.
organization, foreign private foundation, or government of a
With respect to an FFI claiming a chapter 4 status
U.S. possession claiming the applicability of section 115(2),
under an applicable IGA, a change in circumstances
!
501(c), 892, 895, or 1443(b), and, if required, claiming an
includes when the jurisdiction where the FFI is
exemption from chapter 4 withholding. Instead, provide Form
CAUTION
organized or resident (or the jurisdiction where a disregarded
W-8EXP. However, these entities should use Form
entity or branch of an FFI is organized, identified in Part II of
W-8BEN-E instead if they are claiming treaty benefits or are
the form) was included on the list of jurisdictions treated as
providing the form only to claim exempt recipient status for
having an intergovernmental agreement in effect and is
Form 1099 and backup withholding purposes.
removed from that list or when the FATCA status of the
Giving Form W-8IMY to the withholding agent. Do not
jurisdiction changes (for example, from Model 2 to Model 1).
send Form W-8IMY to the IRS. Instead, give it to the person
The list of agreements is maintained at
who is requesting it. Generally, this will be the person from
resource-center/tax-policy/treaties/Pages/FATCA-
whom you receive the payment, the person who credits your
Archive.aspx.
account, or a partnership that allocates income to you. If you
Definitions
are an account holder of an FFI, the FFI may request this
form from you to document the status of your account for
Account. With respect to QI, including a QI acting as a
chapter 4 purposes.
QDD, an account is defined in section 2.01 of the QI
You may provide a single Form W-8IMY if you have
Agreement.
multiple branches receiving payments from the same
TIP
Account holder. An account holder is generally the person
withholding agent rather than separate Forms
listed or identified as the holder or owner of a financial
W-8IMY to identify each branch receiving payments
account (other than an agent or nominee that is not an FFI).
associated with the form. In such a case, you should provide
For example, if a partnership is listed as the holder or owner
a schedule that includes all required information for each
of a financial account, then the partnership is the account
branch. See the instructions for Part II.
holder rather than the partners of the partnership. However,
When to provide Form W-8IMY to the withholding agent.
an account that is held by a disregarded entity is treated as
Give Form W-8IMY to the person requesting it before income
held by the person owning the entity. With respect to a QI
is paid, credited, or allocated to your account. If you do not
acting as a QDD, see section 2.02 of the QI Agreement for
provide this form, the withholding agent may have to withhold
the definition of account holder.
at the 30% rate (for an amount subject to withholding under
Amounts subject to withholding. Generally, an amount
chapter 3 or a withholdable payment under chapter 4),
subject to chapter 3 withholding is an amount from sources
backup withhold, or withhold at the applicable rate for net
within the United States that is fixed or determinable annual
effectively connected taxable income allocable to a foreign
or periodical (FDAP) income. FDAP income is all income
partner in a partnership under section 1446. Generally, a
included in gross income, including interest (as well as OID),
separate Form W-8IMY must be submitted to each
dividends, rents, royalties, and compensation. Amounts
withholding agent from whom you receive a payment.
subject to chapter 3 withholding do not include amounts that
-3-
Instructions for Form W-8IMY (Rev. 6-2017)
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