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Form W-8BEN for South Bend Indiana: What You Should Know

The W8BEN certifies that the foreign national in a nonresident status is deemed to be a resident or citizen of the foreign country and provides information needed by the IRS or the foreign country to determine whether the individual is subject to U.S. tax obligations and/or has a U.S. tax home. It is used to certify the ownership status of non-resident aliens. It is only valid for corporations (C corporations) that are controlled foreign corporations (CFC's), in which all the controlled foreign corporation's shareholders are nationals of a country designated on the form as its beneficial owner (see Table 1). Furthermore, it is only valid for non-U.S. owners that are individuals who are U.S. citizens, U.S. employees, or U.S. persons not temporarily present in the United States (PEP) unless otherwise specified (see Table 1). The W-8BEN must be completed for individuals who own 100% or more of a controlled foreign corporation's voting stock, and the individual must also complete an IRS Form W-8ECI that is approved to report non-resident alien status (see below).  The W-8BEN is required for certain nonresident alien individuals to verify their status. For more information, please see my posts: What's Wrong With This Example?  — YouTube (2016) A simple example demonstrating what is wrong with the above example and how to fix It. W-8BEN: “Nonresident alien” Form W-8BEN Certificate of Foreign Status of Beneficial Owner for Control of a Foreign Business Entity Example of Wrongness: No “U.S. Person” or Employee Exemption If Form W-8BEN is not completed, and the individual is a U.S. citizen, U.S. resident, or U.S. PEP (for those that aren't PEP), an IRS Form W-8ECI is prepared. This form must be submitted with the W-8BEN certificate(s) and a copy of the IRS Form W-8ECI should be included with the W-8BEN. In addition, Form W-8ECI must be signed and the individual should report the nonresident alien status as “no U.S. person or employee.

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