Form W-8 is an essential part of the QI documentation requirements. Forms W-8 serve to document clients both for purposes of US NRA tax (chapter 3) and FATCA (chapter 4) . There are five types of Form W-8 that can be used for different types of account holders.
Information about all Forms W-8.
For individual clients that are beneficial owners, a QI must have valid documentation in order to provide a reduced rate of US withholding. Valid documentation for beneficial owners that are individuals can be either a Form W-8BEN or other forms of identification as provided under the IRS approved KYC Rules for the jurisdiction in which the QI operates.
For entity clients that are beneficial owners, a QI must have valid documentation in order to provide a reduced rate of US withholding. Valid documentation for entity beneficial owners can be either a Form W-8BEN-E or other forms of identification as provided under the IRS approved KYC Rules for the jurisdiction in which the QI operates.
This is a new form (published in April 2009) and is to be used to document covered US expatriates, who are subject to special US tax rules. See the form instructions for a definition of covered expatriate.
Form W-8ECI is used to certify that income is effectively connected with a US trade or business, and therefore not subject to US NRA withholding. This form typically is used by non-US clients that have a branch in the US.
Form W-8EXP is used to document clients that are non-US governments, international organizations or non-US tax exempt organizations.
Form W-8IMY must be obtained from clients that are intermediaries and/or FFIs, including QIs, non-QIs, non-US partnerships and non-US trusts. In case the client is a QI, Withholding Foreign Partnership or Withholding Foreign Trust, it must indicate its QI-EIN, WP-EIN or WT-EIN and GIIN in order for the form to be valid.
