Hello and welcome to our webinar on what you need to know about forms w8 and w9 i'm your presenter today my name is jimmy sexton before we get started just brief housekeeping matter this presentation was prepared for educational purposes only this presentation is not legal or tax advice nor is it to be construed as such each individual circumstances are different you should seek legal and/or tax advice to address any specific questions you may have a couple of other brief items there's two handouts that are available for download from your GoToWebinar control panel you can download esquire groups w8 guide and also this presentation is available for download in PDF format a little bit about myself again my name is jimmy sexton my educational background I have a bachelor's in business administration with an emphasis in finance a JD in LLM in international taxation I'm the president of Esquire Group we have offices in Austria Germany the United Arab Emirates and the United States we specialized in international taxation including tax issues facing US citizens and resident aliens living abroad expatriation investing or doing business abroad and foreign investment in the u.s. I'm fluent in English and German if any you want to know more about me feel free to check out my bio at the link on this slide as we go through the information feel free to type in any questions into your GoToWebinar control panel and when we get to the end of the presentation I'll do a Q&A period and do my best to answer all those questions please try to keep the questions very general not related to your specific situation as I'll skip over those so first we're going to start off by talking about what the w8 series forms...
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W8 purpose Form: What You Should Know
S. Subsidiary for purposes of IRC 707. The form is used to: To certify the status of a foreign person or entity as a U.S. Partner, or To report the net cash of the foreign person or entity from a U.S. source For the purpose of reporting foreign income or foreign withholding, the form is required to show the foreign person or entity's status on January 31 of the year for which the amount is required with the amount of foreign income and foreign withholding required on the following day. This is accomplished with a two-page form and the U.S. taxpayer must provide all the required information on these forms. If you are a U.S. Person filing Form W8BEN-E, you will need to provide the U.S. taxpayer's personal and financial information and attachments. You will not need to provide Form W-Q if you need to submit a w-8 for the taxable year. For certain foreign persons or entities not required to file Form W-8 Form W-8BEN — International Taxation, your Form W8BEN-E may be used when you have a relationship with a person or entity in the United States that requires additional forms and documents for U.S. tax withholding and reporting. The relationship between you and the nonresident must be documented on the form by indicating the amount of the U.S. relationship or information you have gathered about such other relationship. This Form W8BEN also enables you to claim benefits or the benefits of the treaties. If a person or entity files Form W-8BEN-E, the filing of U.S. tax return information may or may not be required. The fact that the Form W-8BEN-E indicates the foreign person's or entity's U.S. status may or may not affect the U.S. withholding and reporting obligations.
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