Form W-8BEN-E (2017)

What Is Form W-8BEN-E for 2017?

When it comes to international business and taxation, understanding the paperwork involved is crucial for compliance with U.S. tax laws. One such document is the W-8BEN-E form 2017, which is essential for foreign entities engaged in commercial activities with U.S. counterparts. This form is specifically designed for use by entities, and there is a separate version for individuals (W-8BEN). 

Purpose of Form W-8BEN-E

Form W-8BEN-E serves an important function in the realm of tax compliance. It is required to be completed by foreign entities to certify their status for withholding tax purposes and to demonstrate that they are the beneficial owners of the income they receive from U.S. sources. The form is also used to claim applicable treaty benefits that may exist between the United States and the entity's country of residence, potentially reducing the amount of withholding tax imposed on certain types of income.

Requirements for Filling Out Form W-8BEN-E (2017)

Before attempting to fill out the form, entities should ensure they understand their classification according to FATCA. This includes whether they are an FFI or non-financial foreign entity (NFFE), as well as their jurisdiction's IGA with the US if applicable. The entity will need a Global Intermediary Identification Number (GIIN) if it's registering as a reporting FFI.

How to Fill Out the W 8BEN E Form 2017

Navigating the form W-8BEN-E can be a complex task, particularly for those filling it out for the first time. Here's a simplified guide to help you understand how to fill out the form:

1. Identify Your Entity: Determine the type of entity you represent and provide the legal name.
2. Tax Identification Information: Enter your entity’s foreign tax identifying number, and if applicable, the U.S. EIN.
3. Entity Type Classification: Choose the entity classification according to the FATCA regulations (e.g., Participating FFI, Deemed-Compliant FFI, Exempt Beneficial Owner, etc.).
4. Document Your Status: Provide documentation that verifies the entity's status claimed in Part I of the form.
5. Claim Treaty Benefits: If eligible, complete the section to claim tax treaty benefits, which may involve citing the specific treaty article that provides a reduced withholding rate.
6. Provide Additional Information: Add any additional information or documentation required to support the claims made on the form, including the LOB (Limitation on Benefits) provision if relevant.

Current Version:

fillable Form W-8BEN-E