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Daly City California online Form Instructions W-8BEN: What You Should Know

This form is used by a corporation to pay dividends tax on dividends made by it to the beneficial owner(s) without incurring a tax liability in the absence of that beneficial owner(s) (for dividends paid in the form or in the aggregate in taxable years). The corporation's liability for income tax may be reduced by taking into account the corporation's share of the corporation's stock as of the date of payment to the beneficial owner(s). This is true even if the beneficial owner's share of the stock has been reduced or eliminated due to the existence of a qualified passive investment. The beneficial owner has an obligation to report the payments on Form 1099-B, U.S. Tax Return for U.S. Shareholders. Each reporting requirement has its own associated withholding forms. See the Instructions for Form W-8 and Section 4.02 of Form 1040 for additional information. See: Forms 1099-B and 1099-MISC. You may need to use the IRS Self Service Interactive Tax Assistant to complete the additional information on the Form W-8BEN (or any other form you decide to use for a given recipient). The IRS provides the Taxpayer Information and Authorization Services (TIES) () toll-free hotline for reporting Forms 1099-B, 1099-MISC, and when you receive an amount in the form of foreign currency or equivalent which you know is not reported to the IRS at the time of payment. SUBJECT TO FEDERAL TAX PAYMENTS  This tax filing requirement only applies to a recipient of foreign currency (or equivalent) payments that you receive without being aware of the fact that the payment is made to a non-U.S. person. A non-U.S. person includes an entity or an individual who is not a U.S. person. The recipients pay the currency of a country to a recipient who is not a U.S. person, without being aware that the recipient receives the currency that would otherwise be subject to tax in the country from which the recipient receives the currency. The recipient receives the currency for the recipient's own account and is not acting as an agent of the foreign holder, who pays the recipient.

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