IB Applicatin
I am in the process of trying to complete my application with IB and have come to a dead end on the tax forms. I am based in the UK and will probably wish to trade the ESTX50 and ES.
I am lead to believe I should not be liable for any US tax but do not know which if any of the W 8 forms apply to me. If anyone has recently signed up with IB can you help as to the selection if any I should make.
Below is a copy of the W 8 page that my application menu displays I need to complete.
Kevin
If you are you subject to US taxation or tax reporting please click 'YES I am subject to US taxation or tax reporting' button, otherwise follow the instructions.
The following is a brief summary of the United States Internal Revenue Service ("IRS") Forms W-8BEN, W-8IMY, W-8EXP and W-8ECI that Interactive Brokers LLC is required to receive from its non-United States accounts. You may not rely upon the below summary but must, instead, rely on the IRS instructions applicable to each IRS Form and/or your independent tax advisor. You are responsible for the submission of the appropriate IRS Form. In addition, please note that Interactive Brokers LLC will not be able to maintain an account for any person or organization for whom Interactive Brokers LLC would be required to withhold taxes. Accordingly, the IRS Forms W-8BEN, W-8IMY, W-8EXP and W-8ECI have been designed for submission by only those accounts for whom Interactive Brokers LLC would not be required to withhold taxes.
Please choose the appropriate IRS form below by clicking the appropriate link; complete the appropriate W-8 form online; and submit the completed form to Interactive Brokers.
IRS Form W-8BEN To access this form click here.
Interactive Brokers LLC must receive IRS Form W-8BEN from any foreign person or organization to which IB makes payment if such foreign person or organization is the beneficial owner of the income, whether or not it is claiming a reduced rate of, or exemption from, withholding. The beneficial owner must enter its U.S. Taxpayer Identification Number ("TIN") if it is a beneficial owner that is claiming benefits under an income tax treaty. A TIN is not required to claim treaty benefits for (i) dividends and interest from stocks and debt obligations that are actively traded; (ii) dividends from any redeemable security issued by an investment company registered under the Investment Company Act of 1940 (a mutual fund); (iii) dividends, interest, or royalties from units of beneficial interest in a unit investment trust publicly offered and registered under the Securities Exchange Act of 1933; (iv) income related to loans of any of the foregoing. Interactive Brokers must also receive IRS Form W-8BEN when a payee claims an exception from domestic information reporting as a foreign person or to establish that certain income is not effectively connected with the conduct of a U.S. trade or business.
IRS Form W-8IMY To access this form click here.
If you receive income on behalf of another person, then you are considered to be an intermediary under U.S. tax law. An intermediary who receives income from Interactive Brokers must pay such income to either the beneficial owner of the income or to other intermediaries. Interactive Brokers must receive IRS Form W-8IMY from any person that is an intermediary. If you have elected to become a Qualified Intermediary (see instructions) and do not have U.S. nonexempt recipient clients (see instructions) you must submit a completed IRS Form W-8IMY to Interactive Brokers.
Please note that Interactive Brokers will not be able to conduct business with an intermediary that requires Interactive Brokers to withhold taxes. This means that Interactive Brokers may not maintain an account for a non-Qualified Intermediary, Foreign Partnership or Foreign Trust.
Accordingly, if you are not a Qualified Intermediary, please call the Interactive Brokers Help Desk at 1-877-442-2757 (if you are in the United States) or at 1-800-0084-0084 (if you are located outside the United States) immediately and provide your account information. The Interactive Brokers Help Desk will relay this information to the Interactive Brokers Compliance Department for further handling.
IRS Form W-8ECI To access this form click here.
Interactive Brokers must receive IRS Form W-8ECI from any foreign person or organization to which Interactive Brokers makes payment if such foreign person or organization is the beneficial owner of the income, and such foreign person or organization claims that the income is effectively connected with a U.S. trade or business within the U.S. The foreign person or organization must enter a U.S. Taxpayer Identification Number ("TIN"). If Interactive Brokers receives IRS Form W-8ECI, IB may treat all of the U.S. source income paid to the beneficial owner as effectively connected with the conduct of a trade or business within the U.S.
IRS Form W-8EXP To access this form click here.
Interactive Brokers must receive IRS Form W-8EXPfrom a foreign government, international organization, foreign central bank of issue, foreign tax exempt organization, foreign private foundation or government of a U.S. possession which claims exemption from withholding.
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I am in the process of trying to complete my application with IB and have come to a dead end on the tax forms. I am based in the UK and will probably wish to trade the ESTX50 and ES.
I am lead to believe I should not be liable for any US tax but do not know which if any of the W 8 forms apply to me. If anyone has recently signed up with IB can you help as to the selection if any I should make.
Below is a copy of the W 8 page that my application menu displays I need to complete.
Kevin
If you are you subject to US taxation or tax reporting please click 'YES I am subject to US taxation or tax reporting' button, otherwise follow the instructions.
The following is a brief summary of the United States Internal Revenue Service ("IRS") Forms W-8BEN, W-8IMY, W-8EXP and W-8ECI that Interactive Brokers LLC is required to receive from its non-United States accounts. You may not rely upon the below summary but must, instead, rely on the IRS instructions applicable to each IRS Form and/or your independent tax advisor. You are responsible for the submission of the appropriate IRS Form. In addition, please note that Interactive Brokers LLC will not be able to maintain an account for any person or organization for whom Interactive Brokers LLC would be required to withhold taxes. Accordingly, the IRS Forms W-8BEN, W-8IMY, W-8EXP and W-8ECI have been designed for submission by only those accounts for whom Interactive Brokers LLC would not be required to withhold taxes.
Please choose the appropriate IRS form below by clicking the appropriate link; complete the appropriate W-8 form online; and submit the completed form to Interactive Brokers.
IRS Form W-8BEN To access this form click here.
Interactive Brokers LLC must receive IRS Form W-8BEN from any foreign person or organization to which IB makes payment if such foreign person or organization is the beneficial owner of the income, whether or not it is claiming a reduced rate of, or exemption from, withholding. The beneficial owner must enter its U.S. Taxpayer Identification Number ("TIN") if it is a beneficial owner that is claiming benefits under an income tax treaty. A TIN is not required to claim treaty benefits for (i) dividends and interest from stocks and debt obligations that are actively traded; (ii) dividends from any redeemable security issued by an investment company registered under the Investment Company Act of 1940 (a mutual fund); (iii) dividends, interest, or royalties from units of beneficial interest in a unit investment trust publicly offered and registered under the Securities Exchange Act of 1933; (iv) income related to loans of any of the foregoing. Interactive Brokers must also receive IRS Form W-8BEN when a payee claims an exception from domestic information reporting as a foreign person or to establish that certain income is not effectively connected with the conduct of a U.S. trade or business.
IRS Form W-8IMY To access this form click here.
If you receive income on behalf of another person, then you are considered to be an intermediary under U.S. tax law. An intermediary who receives income from Interactive Brokers must pay such income to either the beneficial owner of the income or to other intermediaries. Interactive Brokers must receive IRS Form W-8IMY from any person that is an intermediary. If you have elected to become a Qualified Intermediary (see instructions) and do not have U.S. nonexempt recipient clients (see instructions) you must submit a completed IRS Form W-8IMY to Interactive Brokers.
Please note that Interactive Brokers will not be able to conduct business with an intermediary that requires Interactive Brokers to withhold taxes. This means that Interactive Brokers may not maintain an account for a non-Qualified Intermediary, Foreign Partnership or Foreign Trust.
Accordingly, if you are not a Qualified Intermediary, please call the Interactive Brokers Help Desk at 1-877-442-2757 (if you are in the United States) or at 1-800-0084-0084 (if you are located outside the United States) immediately and provide your account information. The Interactive Brokers Help Desk will relay this information to the Interactive Brokers Compliance Department for further handling.
IRS Form W-8ECI To access this form click here.
Interactive Brokers must receive IRS Form W-8ECI from any foreign person or organization to which Interactive Brokers makes payment if such foreign person or organization is the beneficial owner of the income, and such foreign person or organization claims that the income is effectively connected with a U.S. trade or business within the U.S. The foreign person or organization must enter a U.S. Taxpayer Identification Number ("TIN"). If Interactive Brokers receives IRS Form W-8ECI, IB may treat all of the U.S. source income paid to the beneficial owner as effectively connected with the conduct of a trade or business within the U.S.
IRS Form W-8EXP To access this form click here.
Interactive Brokers must receive IRS Form W-8EXPfrom a foreign government, international organization, foreign central bank of issue, foreign tax exempt organization, foreign private foundation or government of a U.S. possession which claims exemption from withholding.
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