W-8 Series Form
Foreign (Non-US) Individual - Used for Individual and Joint Account Holders
Instructions: Form W-8BEN http://www.irs.gov/pub/irs-pdf/iw8ben.pdf
Foreign (Non-US) Entity - Used for Company and Trust Account Holders
- W-8BEN-E for Companies: https://www.irs.gov/pub/irs-pdf/fw8bene.pdf
- Instructions Form W-8BEN-E https://www.irs.gov/instructions/iw8bene
- Form for Trusts and SMSFs : Australian Trusts & SMSFs – Entity Client Declaration
The Foreign Account Tax Compliance Act (FATCA) is a legislation of the United States targeting non-compliance by US taxpayers with foreign accounts.
*Please note that Saxo Capital Markets does not offer its financial products and services to residents or entities of the United States of America, such individuals or entities cannot be accepted as a client of Saxo Capital Markets.
Under FATCA rules, as of 1st July 2014, Saxo Capital Markets must obtain self-certification from Individual and Joint account holders to determine their non-US or US status for tax purposes, accounts deemed reportable (identified US citizen or resident for tax purposes) are then reported to the IRS via the ATO during reporting periods.
The Internal Revenue Service (IRS) is a US government agency responsible for tax collection and tax law enforcement.
From 1st January 2015, FATCA rules require Saxo Capital Markets to obtain certification from Entities defined under the IGA between US and Australia. These include corporate/company accounts and trust accounts. All company and trust client application forms must be accompanied with an IRS W-BEN-E Form to determine the beneficial owners non-US or US status for tax purposes.
US Tax Relief at Source
All US dividends from investment in US securities via the Saxo Platform is subject to a 30% withholding tax enforced by the IRS. Saxo Capital Market can offer clients US relief at source reducing the overall withholding tax on dividends from 30% to 15% by applying the double taxation treaty between Australia and United States of America. US tax relief at source reduces the overall withholding tax on dividends from 30% to 15%.
In order to benefit from the US tax relief at source, clients are required to complete the relevant W-8 Series Form as indicated above.
Each form is relevant to the type of account established with Saxo Capital Markets, note a joint account requires both individuals to complete the W-8BEN Form.
Please be aware that Saxo Capital Markets does not provide any advice on tax related services. If you are experiencing difficulties in completing any of the below W-8 Series Forms, please refer to the relevant instructions or obtain advice from your tax expert or independent advisor.
You can find more information via the IRS homepage: www.irs.gov