Instructions For The Requester Of Forms W-8ben, W-8ben-E, W-8eci, W-8exp, And W-8imy

W-8BEN-E from the entity to establish its chapter 4 status.

1.1471-3(c)(5)(ii)(B) to treat an entity as a foreign person

Additionally, with respect to a payment for which the entity

for chapter 4 purposes (including the U.S. indicia relevant

is claiming a reduced rate of withholding for its partners,

for such purposes). For participating FFIs documenting

beneficiaries, or owners, as applicable, you have obtained

the status of account holders for purposes of the FFI’s

from the entity a Form W-8IMY with applicable

chapter 4 requirements, see Regulations section

documentation with respect to claims of treaty benefits for

1.1471-4(c).

reduced withholding made by partners, beneficiaries, or

A withholding agent described above may not rely on a

owners in the entity. Otherwise, withholding will apply

Form W-8BEN or Form W-8BEN-E if:

under chapter 4 based on the presumptions under

1. The withholding agent has classified the account

Regulations section 1.1473-1(f) regardless of whether

holder as a U.S. person in its account information, the

otherwise valid treaty claims are made by such persons.

Form W-8 has a current permanent residence address or

a current mailing address in the United States, the

Due Diligence Requirements

withholding agent has a current residence or current

You are responsible for ensuring that all information

mailing address in the United States as part of its account

relating to the type of income for which Form W-8 is

information, the account holder notifies the withholding

submitted is complete and appears to be accurate and,

agent of a new residence or mailing address in the United

for an entity providing the form, includes a chapter 4

States, or, only to the extent described in Regulations

status (if required as described above). In general, you

section 1.1441-7(b)(5), the withholding agent has a U.S.

may rely on the information and certifications provided on

telephone number as the sole telephone number for the

the form (including the status of the beneficial owner as an

account holder. However:

individual, corporation, etc.) unless you have actual

a. An individual who has provided a Form W-8BEN

knowledge or reason to know that the information is

may be treated as a foreign person if:

unreliable or incorrect. You have reason to know that the

The withholding agent has in its possession or obtains

information is unreliable or incorrect if you have

documentary evidence (as described in Regulations

knowledge of relevant facts or statements contained in the

section 1.1471-3(c)(5)(i)) (which does not contain a U.S.

withholding certificate or other documentation that would

address) supporting the claim of foreign status, and the

cause a reasonably prudent person in your position to

individual provides the withholding agent with a

question the claims made. For example, if you have

reasonable explanation, in writing, supporting his or her

information in your records that contradicts information

claim of foreign status,

provided on the form, you may not rely on the form. If you

For a payment made outside the U.S. with respect to an

know or have reason to know that any information is

offshore obligation (as defined in Regulations section

unreliable or incorrect, you must obtain a new Form W-8

1.6049-5(c)(1)), the withholding agent has in its

or other appropriate documentation.

possession or obtains documentary evidence establishing

Reason to know. You have reason to know that a Form

foreign status (as described in Regulations section

W-8 is unreliable or incorrect if the Form W-8 is

1.1471-3(c)(5)(i)) that does not contain a U.S. address,

incomplete with respect to any item that is relevant to the

With respect to an offshore obligation (as defined in

claims made, the form contains any information that is

Regulations section 1.6049-5(c)(1)), the withholding agent

inconsistent with the claims made, the form lacks

classifies the individual as a resident of the country where

information necessary to establish that the beneficial

the obligation is maintained and is required to report

owner is entitled to a reduced rate of withholding, or the

payments to the individual annually to the tax authority of

withholding agent has other account information that is

the country in which the obligation is maintained and that

inconsistent with the claims made. See, however, the

country has an income tax treaty or information exchange

allowance to use other documentation to validate a Form

agreement in effect with the United States, or

W-8 for an inconsequential error on a Form W-8

The withholding agent has classified the account holder

described below in these instructions.

as a U.S. person in its account information, and the

If you are a withholding agent that is a financial

withholding agent has in its possession or obtains

institution (as defined in Regulations section 1.1471-5(e)),

documentary evidence (as described in Regulations

insurance company, or a broker or dealer in securities that

section 1.1471-3(c)(5)(i)(B)) evidencing citizenship in a

maintains an account for a direct account holder

country other than the United States.

(beneficial owner) making a payment of U.S. source

b. An entity that has provided a Form W-8BEN-E may

FDAP income to a direct account holder, you have reason

be treated as a foreign person if the withholding agent

to know that a Form W-8BEN or W-8BEN-E provided by

does not know or have reason to know that it is a

the direct account holder is unreliable or incorrect for such

flow-through entity and:

payments if one or more of the following circumstances

The withholding agent has in its possession or obtains

exist with respect to a claim of foreign status for chapter 3

documentation establishing foreign status (as described

or 4 purposes or a claim of treaty benefits. In that case,

in Regulations section 1.1471-3(c)(5)(i) and as applicable

you must either request a new form or the additional

to entities) that substantiates that the entity is actually

documentation to substantiate the claims on the form. See

organized or created under the laws of a foreign country,

Regulations section 1.1441-7(b)(3) for the limits on reason

to know for the entities referenced in this paragraph for

For a payment made with respect to an offshore

purposes of chapter 3. See Regulations section

obligation (as defined in Regulations section 1.6049-5(c)

1.1471-3(e)(4)(v) for when a withholding agent may rely

(1)), the withholding agent classifies the entity as a

on a code or classification under Regulations section

-11-

Instructions for the Requester of Forms W-8 (Rev. 7-2014)

Instructions For The Requester Of Forms W-8ben, W-8ben-E, W-8eci, W-8exp, And W-8imy - 2014 Page 11

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