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

Regulations sections 1.1441-1(b)(7)(iv) for chapter 3

If you know or have reason to know of a change in

purposes and 1.1471-3(c)(7)(i) for chapter 4 purposes for

circumstances that makes any information on the current

further information about the rules for withholding

form unreliable or incorrect for purposes of chapter 3 or 4

certificates that contain inconsequential errors.

(to the extent applicable based on the claims made on the

form). For limits on reason to know if you are a financial

Substitute Forms W–8

institution, insurance company, or broker or dealer in

You may develop and use your own Form W-8BEN,

securities, see Regulations sections 1.1441-7(b)(3) (if you

W-8BEN-E, W-8ECI, W-8EXP, or W-8IMY (a substitute

are a withholding agent with respect to a payment subject

form) if its content is substantially similar to the IRS's

to chapter 3 withholding) and 1.1471-3(d)(4)(v) (if you are

official Form W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, or

a withholding agent with respect to a withholdable

W-8IMY (to the extent required by these instructions) and

payment).

it satisfies certain certification requirements. You may

Example. A foreign individual investor opens an

develop and use a substitute form that is in a foreign

account with a broker to purchase U.S. Treasury bonds

language, provided that you make an English translation

and provides Form W-8BEN to obtain the portfolio interest

of the form and its contents available to the IRS upon

exemption. The investor does not complete Part II of Form

request. You may combine Forms W-8BEN, W-8BEN-E,

W-8BEN (because he is not claiming treaty benefits).

W-8ECI, W-8EXP, and W-8IMY into a single substitute

Later, the investor purchases U.S. stock and claims treaty

form. A form that satisfies these substitute forms

benefits on dividend income. The investor at that time

requirements may be treated as a similar agreed form for

completes a new Form W-8BEN providing the information

purposes of an applicable Model 1 IGA, if the partner

required in Part II.

jurisdiction does not decline such treatment.

You may omit the chapter 4 certifications on your

Period of Validity

substitute form if such certifications are not required

Generally, a Form W-8 is valid from the date signed until

based on the payments made to the payees or account

the last day of the third succeeding calendar year. For

holders. You may not, however, omit the chapter 4

example, a Form W-8BEN signed on September 30,

certifications if you are an FFI documenting the chapter 4

2015, remains valid through December 31, 2018.

status of your account holders under your chapter 4

However, under certain conditions a Form W-8 will have

requirements or under an applicable IGA. You may

an indefinite validity period, unless there has been a

choose to provide a substitute form that does not include

change in circumstances. For example, a Form

all of the chapter 4 statuses provided on the Form W-8,

W-8BEN-E provided by an entity to support its foreign

but the substitute form must include any chapter 4 status

status along with documentary evidence to support a

for which withholding may apply, such as the categories

claim made on the form. To determine the period of

for a nonparticipating FFI or passive NFFE.

validity for a Form W-8 for purposes of chapter 3, see

Regulations section 1.1441-1(e)(4)(ii). To determine the

You are also required to furnish instructions for the

period of validity for a Form W-8 for purposes of

substitute form to the extent and manner provided in the

chapter 4, see Regulations section 1.1471-3(c)(6)(ii). For

official instructions for the official form.

the validity period of a pre-FATCA Form W-8 that may be

You may incorporate a substitute Form W-8 into other

relied upon by a withholding agent for chapter 4 purposes,

business forms you customarily use, such as account

see Regulations section 1.1471-3(d)(1).

signature cards, provided the required certifications are

clearly set forth. However, you may not:

Forms Received That Are Not Dated or That

1. Use a substitute form that requires the payee, by

Contain Inconsequential Errors or Omissions

signing, to agree to provisions unrelated to the required

If a Form W-8 is valid except that the person providing the

certifications, or

form has not dated the form, the withholding agent may

2. Imply that a person may be subject to 30%

date the form from the day it is received and measure the

withholding or backup withholding unless that person

validity period from that date. A withholding agent

agrees to provisions on the substitute form that are

generally may treat a withholding certificate as valid if it

unrelated to the required certifications.

contains an error or omission that is inconsequential and

the withholding agent has sufficient documentation on file

A substitute Form W-8 is valid only if it contains the

to supplement the missing information. However, a failure

same penalties of perjury statement and certifications as

to establish an entity type or make a required certification

the official forms and the required signature. However, if

is not inconsequential. For example, if an entity beneficial

the substitute form is contained in some other business

owner receiving a withholdable payment selects a

form, the words “information on this form” may be

certified deemed-compliant FFI status on line 5 of Form

modified to refer to that portion of the business form

W-8BEN-E but does not complete the corresponding

containing the substitute form information. The design of

required certifications in Part V, the form is invalid for

the substitute form must be such that the information and

chapter 4 purposes. On the other hand, for a Form W-8 for

certifications that are being attested to by the penalties of

which the person signing the form does not also print a

perjury statement clearly stand out from any other

name before the signature when required on the form, the

information contained in the form.

withholding agent need not treat the form as incomplete if

the withholding agent has documentation or information

supporting the identity of the person signing the form. See

-13-

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 13

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