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


Instructions for Form W-8IMY
Department of the Treasury
Internal Revenue Service
(Rev. June 2017)
Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S.
Branches for United States Tax Withholding and Reporting
Section references are to the Internal Revenue Code unless
provide their own GIIN (if required) and should not provide
otherwise noted.
the GIIN of the sponsoring entity. See the instructions to Part
XIX. In addition, these instructions provide that a trustee of a
General Instructions
trustee-documented trust that is a foreign person should
provide the GIIN it received when it registered as a
participating FFI (including a reporting Model 2 FFI) or
Future developments. For the latest information about
reporting Model 1 FFI.
developments related to Form W-8IMY and its instructions,
such as legislation enacted after they were published, go to
Purpose of Form
Under chapter 3, foreign persons are generally subject to
What’s New
U.S. tax at a 30% rate on income they receive from U.S.
sources that consists of interest (including certain original
Qualified derivatives dealers (QDDs). This form and
issue discount (OID)), dividends, rents, premiums, annuities,
these instructions have been updated to reflect final and
compensation for, or in expectation of, services performed,
temporary regulations published in January 2017 as well as
or other fixed or determinable annual or periodical (FDAP)
the Qualified Intermediary Agreement published in Rev.
gains, profits, or income. This tax is imposed on the gross
Proc. 2017-15, available at
amount paid and is generally collected by withholding under
ar15.html, with respect to the requirements of a QDD. A QDD
section 1441 or 1442 on that amount. A payment is
that receives payments for which the QDD is entitled to a
considered to have been made whether it is made directly to
reduced rate of withholding under an income tax treaty may
the beneficial owner or to another person, such as an
use its Form W-8IMY to both certify its status as a qualified
intermediary, agent, trustee, executor, or partnership, for the
intermediary (QI) acting as a QDD and to claim treaty
benefit of the beneficial owner.
benefits with respect to such payments. To make a claim for
treaty benefits in such a case, the QDD should provide a
Under chapter 4, withholding agents must withhold at a
withholding agent with a statement associated with its Form
30% rate under sections 1471 and 1472 on withholdable
W-8IMY that contains the information required in Part III of
payments made to nonparticipating FFIs (including when the
Form W-8BEN-E.
nonparticipating FFI is a flow-through entity or is acting as an
intermediary), certain other foreign entities, and certain
U.S. branch certification. Final regulations under chapter 4
account holders of FFIs. For example, if a U.S. withholding
published in January 2017 changed certain requirements for
agent makes a payment of portfolio interest described in
U.S. branches of foreign entities. This form has been
section 871(h) to an account maintained by a
updated to include the certification required of U.S. branches
nonparticipating FFI, the payment will be subject to a 30%
of foreign financial institutions (FFIs) that are not treated as
withholding tax under section 1471 even if the
U.S. persons. For payments made on or after July 1, 2017,
nonparticipating FFI is an intermediary or flow-through entity
those branches must certify that they are applying the rules
and the beneficial owner for whom the intermediary or
described in Regulations section 1.1471-4(d)(2)(iii)(C) in
flow-through is acting is a foreign individual who provides a
order to avoid being withheld upon under chapter 4. The final
valid Form W-8BEN.
regulations also provide that U.S. branches of FFIs that are
treated as U.S. persons no longer have to be branches of
Foreign persons are also subject to tax at graduated rates
FFIs with specified chapter 4 statuses. These instructions
on income they earn that is considered effectively connected
reflect that change by allowing such branches to leave lines 5
with a U.S. trade or business. If a foreign person invests in a
and 9 blank.
partnership that conducts a U.S. trade or business, the
foreign person is considered to be engaged in a U.S. trade or
Limited FFIs and limited branches. Limited FFI and
business. The partnership is required to withhold tax under
limited branch statuses expired on December 31, 2016, and
section 1446 on the foreign person’s distributive share of the
have been removed from the form and instructions.
partnership’s effectively connected taxable income. The
Sponsored FFIs and sponsored direct reporting non-fi-
partnership may generally accept any form submitted for
nancial foreign entities (sponsored direct reporting
purposes of section 1441 or 1442, with few exceptions, to
NFFEs). As of January 1, 2017, a sponsored FFI that is a
establish the foreign status of the partner. See Regulations
registered deemed-compliant FFI or sponsored direct
sections 1.1446-1 through 1.1446-6 to determine whether
reporting NFFE is required to obtain its own GIIN to be
the form submitted for purposes of section 1441 or 1442 will
provided on this form and can no longer provide its
be accepted for purposes of section 1446.
sponsoring entity’s GIIN. This form has been updated to
For purposes of section 1446, Form W-8IMY may
reflect this requirement.
only be submitted by an upper-tier foreign
Nonreporting IGA FFIs. This form and these instructions
partnership or a foreign grantor trust, both of which
have been updated to reflect the requirements for
must furnish additional documentation for their owners.
withholding agents to document nonreporting IGA FFIs in the
Treasury regulations. These instructions also clarify that
Additional information. For additional information and
nonreporting IGA FFIs that are sponsored entities should
instructions for the withholding agent, see the Instructions for
Jun 23, 2017
Cat. No. 25904R


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