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 Page 14
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18obligations under chapters 3 and 4 of the Code and/or Form
required to include information that is already on the
1099 reporting and backup withholding responsibility.
withholding certificates (including name, address, TIN,
chapter 4 status, and GIIN), and you are not required to
Alternative procedure for NQIs. To use the alternative
provide the rate of withholding applicable to each beneficial
procedure you must inform the withholding agent on your
owner, so long as the withholding agent can determine the
withholding statement that you are using the procedure, and
appropriate rate based on the withholding certificates. Just
the withholding agent must agree to the procedure.
as for a nonqualified intermediary withholding statement, the
Under this procedure, you must provide a withholding
alternative withholding statement must provide information
agent with all the information required on the withholding
for allocating the payment to each payee and must include
statement and all payee documentation, except the specific
any other information the withholding agent needs to fulfill its
allocation information for each payee, prior to the payment of
withholding and reporting obligations. You must also provide
a reportable amount. In addition, you must provide the
a representation on the alternative withholding statement that
withholding agent with withholding rate pool information. The
the information on the withholding certificates is not
withholding statement must assign each payee that is not
inconsistent with any other account information you have for
subject to withholding under chapter 4 to a chapter 3
the beneficial owner applicable to determining the
withholding rate pool prior to the payment of a reportable
appropriate rate of withholding. See Regulations section
amount. The withholding rate pool may be established by any
1.1441-1T(e)(3)(iv)(C)(3).
reasonable method agreed upon by you and the withholding
Part V — Territory Financial
agent. For example, you may agree to establish a separate
account for a single withholding rate pool, or you may agree
Institution
to divide a payment made to a single account into portions
allocable to each withholding rate pool. You must determine
Line 18
withholding rate pools based on valid documentation or, to
the extent a payment cannot be reliably associated with valid
Check box 18a to certify that you are a financial institution
documentation, the applicable presumption rules.
(other than an investment entity that is not also a depository
You must provide the withholding agent with sufficient
institution, custodial institution, or specified insurance
information to allocate the income in each withholding rate
company) incorporated or organized under the laws of a
pool to each payee (including U.S. exempt recipients) within
possession of the United States.
the pool no later than January 31 of the year following the
You must also check either box 18b or 18c. Check
year of payment. If you fail to provide allocation information, if
box 18b to certify that you have agreed to be treated as a
required, by January 31 for any withholding rate pool, you
U.S. person for purposes of both chapter 3 and chapter 4
may not use this procedure for any payment made after that
with respect to payments associated with this Form W-8IMY.
date for all withholding rate pools. You may remedy your
In this case, you will be responsible for chapter 3 withholding
failure to provide allocation information by providing the
and reporting, backup withholding under section 3406, and
information to the withholding agent no later than February
chapter 4 withholding and reporting for any payments you
14.
make to persons for whom you are receiving a reportable
In the case of a reportable amount that is also a
amount or withholdable payment. If you check this box 18b,
withholdable payment, you may include amounts allocable to
you must provide an EIN on line 8.
a chapter 4 withholding rate pool (other than a chapter 4
withholding rate pool of U.S. payees) and payees subject to
Check box 18c to certify that you are a territory financial
chapter 4 withholding for whom you will provide payee
institution that has not agreed to be treated as a U.S. person.
specific information in a 30-percent rate pool together with
You must certify that you are transmitting withholding
payees subject to chapter 3 withholding at the 30-percent
certificates or other documentation for persons for whom you
rate and may not otherwise apply these provisions for
are receiving a payment (as required for chapter 3,
payments made to U.S. non-exempt recipients (regardless of
chapter 61, and section 3406 purposes, and, in the case of a
whether the payment is a withholdable payment). For the
withholdable payment, for chapter 4 withholding and
amount of the payment allocable to a chapter 4 withholding
reporting purposes). You must also certify that you have
rate pool of U.S. payees, you may include such an amount in
provided or will provide a withholding statement (as required)
the withholding rate pool that is exempt from withholding (you
with the information required on an NQI withholding
can include such payees in an exempt pool regardless of
statement.
whether the payment is a withholdable payment). You must
A territory entity that is a flow-through entity but is not
identify prior to the payment each chapter 4 withholding rate
a territory FI may not complete this Part V and agree
!
pool to be allocated a portion of the payment and must also
to be treated as a U.S. person. Instead, complete
allocate by January 31 the portion of the payment to each
CAUTION
Part IV or Part VIII, as appropriate.
such pool in addition to allocating the payment to each other
payee as described in the preceding paragraph. See
Part VI — Certain U.S. Branches
Regulations section 1.1441-1(e)(3)(iv)(D) for further
information on alternative procedures for an NQI.
Line 19
Alternative withholding statement. If a withholding
agent agrees, instead of providing a withholding statement
Check box 19a to certify that you are a U.S. branch
that contains all of the information described previously, you
described in Regulations section 1.1441-1(b)(2)(iv) receiving
may provide an alternative withholding statement. You may
income that is not effectively connected with the conduct of a
only use an alternative withholding statement if you are
trade or business in the United States.
providing the withholding agent with withholding certificates
You must also check either box 19b or 19c. Check
(and not documentary evidence) from the beneficial owners
box 19b to certify that you are a U.S. branch of a foreign bank
of the payment. The alternative withholding statement is not
or insurance company described in this certification that has
-14-
Instructions for Form W-8IMY (Rev. 6-2017)
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