What are W-8BEN and 1042-S forms and how do I get them?
W-8BEN form is a document proving the tax residency of the holder of U.S. securities. A signed W-8BEN form questionnaire allows to apply the concessionary tax rate on dividends and coupon income on the securities of U.S. issuers.
According to the USA legislation, a tax rate on dividends and coupon income from the securities of the U.S. companies is 30%. W-8BEN form allows to avoid double taxation. That is, the tax fee will be 15%.
1042-S form contains information about foreign nationals’ earnings gained from the U.S. sources, which are taxable in the USA, including interest rates, alternate payments, and your account charges for the year.
To get 1042-S and W-8BEN forms, contact your consultant by calling 7555.