W8-BEN form. How to fill it

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Martin Simon
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W8-BEN form. How to fill it

Post by Martin Simon »

Hi there!

I am currently creating an account on Patreon and was asked to fill in a W8-BEN form. I want to benefit from the treaty between the US and Canada and keep the 30% for me. :)

I have never filled one before, but feel confused with information found on the web regarding how to fill in this form.

I discovered something on this forum that seems close to what I should do, but I am not sure yet if it's relevant or not.

What I have found so far:

Part I:
1. Name - fill it in
2. Skip for individual
3. Check as appropriate - likely "Individual"
4. Residence address - fill it in
5. Mailing address - skip unless different from residence
6. Skip
7. Skip
8. Skip

Part II:
9. Put word "Canada" on the dotted line. Don't check any others.
10. Skip

Part III:
11. Skip

Part IV:
Sign name and date, put word "Self" on the far right dotted line asking capacity.


--------------

Now my questions are:

1. Is the social security number required in filed #7?
2. Why put the word "Self" on the far right dotted line asking capacity?
3. Anything else I should be aware of?

Thanks a lot!

Martin :)
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Peculiar_Investor
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Re: W8-BEN form. How to fill it

Post by Peculiar_Investor »

Welcome to FWF.

It's been years since I last filled out a W8-BEN but my recollection is it was simple. Have you looked at Instructions for Form W-8BEN | IRS which hopefully address your concerns.
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Martin Simon
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Re: W8-BEN form. How to fill it

Post by Martin Simon »

Thanks for the answer!

Yes, I did read this document, but since English is my second language, I did not understand everything (well, not enough to be 100% sure).

Some people said that adding our SSN was mandatory while others said it was not necessary.

I was not sure either if #10 needed to be filled in or not ....

:D
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Re: W8-BEN form. How to fill it

Post by Peculiar_Investor »

Two further clarifying question I should have asked in the first place. What is your citizenship(s)? Where do you reside (Canada or the US)?
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Martin Simon
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Re: W8-BEN form. How to fill it

Post by Martin Simon »

Canada and Canada! ;)
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Re: W8-BEN form. How to fill it

Post by gobsmack »

It's been a long time for me as well but I can certainly say that I did not write "Self" on the form. I also remember that I did provide my SSN but I did not provide my Canadian SIN. Under part II, the people telling you to simply write 'Canada' are assuming that Patreon knows what to do with that. I would check with them first. You may not be the first Canadian who has opened an account with them. If it were me, I would want to confirm with Patreon exactly how much tax they will be withholding on my behalf.
Martin Simon
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Re: W8-BEN form. How to fill it

Post by Martin Simon »

Thanks!

I did wrote to Patreon a few hours ago, but I am guessing that I will receive an answer like this one:

"we are not accountants and cannot give any tax information"

Will see!

:thumbsup:
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adrian2
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Re: W8-BEN form. How to fill it

Post by adrian2 »

I have a monthly stock savings plan with Computershare USA, and here is the verbiage from their FORM W-8BEN - Certificate of Foreign Status of Beneficial Owners for United States Tax Withholding
Certification

Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief it is true, correct, and complete. I further certify under penalties of perjury that:

- I am the individual that is the beneficial owner (or am authorized to sign for the individual that is the beneficial owner) of all the income to which this form relates or am using this form to document myself as an individual that is an owner of a foreign financial institution

...

By providing my Personal Identification Number (PIN) in the box below and clicking submit, I affirm that the above information is true correct and legally binding on me as if I had handwritten my signature on my Form W-8BEN.
If your broker has a different variation, I don't see the harm in stating that you're signing the form in the capacity of yourself (i.e., not on behalf of someone else).
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Re: W8-BEN form. How to fill it

Post by AltaRed »

I agree. It is 'self' or 'beneficial owner' or to that effect.
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Re: W8-BEN form. How to fill it

Post by Martin Simon »

Thanks guys!

I guess I'll ask a local accountant for an answer regarding my situation.

:thumbsup:
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