Updated draft Form W-8IMY - 06/09/2013
The IRS has released another draft of Form W-8IMY for foreign intermediaries, foreign flow-through entities, or certain U.S. branches for United States tax withholding. This is the first revision of the original draft Form W-8IMY following the release of the FATCA final regulations.
Instructions to the Forms W-8
Instructions for all the newly released draft Form have not been released. The IRS has stated that it will issue draft instructions in the near future, and after a commentary period will publish final versions of the instructions along with the final versions of the Forms.
Who must file this Form?
In practice, this Form should be filed by:
- Foreign (i.e. non-U.S.) intermediaries and nominees (e.g. QI and NQI entities),
- Certain foreign partnerships (e.g. certain Luxembourg FCPs, Luxembourg S.C.A., Luxembourg S.C.I., unless the “check the box” election for corporation has been done),
- Foreign simple or grantor trusts,
- U.S. branches of certain foreign banks.
For additional details regarding the information above, please find enclosed the news alert prepared by our US colleagues.
Summary of draft Forms released
|W-8BEN||Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding||17/05/2013|
|W-9||Request for Taxpayer Identification Number and Certification||17/05/2013|
|W-8BEN-E||Certificate of Entities Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)||21/05/2013|
|W-8EXP||Certificate of Foreign Government or Other Foreign Organisation for United States Tax Withholding||23/05/2013|
|Instructions – W-9||Instructions for the Requestor of Form W-9, Request for Taxpayer Identification Number and Certification||07/08/2013|
|W-8IMY||Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding||26/08/2013|
If you have any queries regarding the above, please do not hesitate to contact us.
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