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Tutorial How to Fill Up IRS Form W-8BEN

If you have an account with TD Ameritrade Singapore, you might have received email from them asking you to update IRS Form W-8BEN, both you and co-owner (if you have) of the account. 

If TD Ameritrade Singapore does not receive updated info by December 6, 2019, your account will be subject to trading restrictions and U.S. federal backup withholding. Your account will be restricted to closing transactions only, and you will not be able to open new positions. In addition, TD will convert your Foreign account to a U.S. Taxpayer account after the end of this year. TD's clearing firm will also be required by the U.S. Internal Revenue Service (IRS) to withhold 24% of all interest, dividends, proceeds from options transactions, and sales proceeds until they receive the necessary documentation.

Here, I put up a sample W-8BEN and how to fill up this form.

W 8B TD

The W-8BEN form is located at https://www.tdameritrade.com.sg/tdaa/data/SG/W-8B.pdf and available for download. This form is slightly different than usual W-8BEN as shown below.

You have 2 pages in PDF file but just fill up the first page. Second page is blank page. Now, print out page 1 and fill the form using black pen. If you have account co-owner, then print and fill up separately.

At Part 1:

Line 1 : Enter your full name. You can follow the style (First Name) followed by (Last Name).

Line 2 : Enter the country of your citizenship. Example, if you are Malaysian, then put Malaysia.

Line 3 : Enter your permanent residence address. Example, (Number) followed by (Street Name), then city, post code and state of the address, then country of the address..

Line 4 : Leave blank if mailing address same as residence address.

Line 5 :  Leave blank if you do not have US Tax ID.

Line 6 :  Enter your current country Tax ID. Example, if you are Malaysian, then enter your LHDN number.

Beginning in January 2018, you are required to provide your foreign tax identifying number (FTIN) on Line 6 of the Form W-8BEN. An FTIN is a taxpayer identification number issued by a country other than the United States. If a foreign person does not provide its FTIN, it must provide the withholding agent with an explanation of why an FTIN has not been provided.You are now required to provide your foreign tax identifying number (FTIN) on Line 6 of the Form W-8BEN. An FTIN is a taxpayer identification number issued by a country other than the United States. If a foreign person does not provide its FTIN, it must provide the withholding agent with an explanation of why an FTIN has not been provided.
Please be sure to complete this line. If you do not have an FTIN, you will need to complete and submit the Missing Tax Identification Number Declaration form explaining why you do not have a tax ID.

Line 7 : Enter your TD Ameritrade SG account number.

Line 8 : Enter your date of birth.

 

At Part II:

The United States has tax treaties with a number of foreign countries. Under these treaties, residents (not necessarily citizens) of foreign countries are taxed at a reduced rate, or are exempt from U.S. taxes on certain items of income they receive from sources within the United States. You can find out the latest information from here : https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z.

For Malaysian, there is no tax treaties with USA as of today. So leave blank for now.

 

At Part III:

Make sure you fill up all information correctly according to the requirements stated in Part III. Then put your signature, name and date in the form.

Now you are done. You can use a scanner and convert into JPEG file. Alternatively you take a clear picture of the file. Send the This email address is being protected from spambots. You need JavaScript enabled to view it. and that should be it!

Good luck and all the best!

P/S: Attached is the regular W-8BEN form. You might get this from other sources such as if you are doing affiliate program with US companies. You can see there is only very small at line 7. 

  

W8BEN TD Ameritrade

 

 

Comments   
# Kelvin Tee 2019-08-22 09:54
i like to use dividend strategy. can we claim back the tax withheld?
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# Small Potato 2019-08-22 20:12
Hello Kelvin,

You can fill up form 1042S to do that. I don't hv sample here.
Reply | Report to administrator
# Albert Kojidi 2019-11-17 10:55
Great help. TQ.
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IRS Form W-8BEN

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