Pursuant to an internal audit, the configuration of our generic copy of IRS Form W-9, Cx22 (“Request for Taxpayer Identification Number and Certification”), will be updated to only print for U.S. Citizens and Permanent Resident Aliens. The associated fields are set based on two questions from FNMA 1003, Cx4193 (“Uniform Residential Loan Application”):
- j. Are you a U.S. citizen?
- k. Are you a permanent resident alien?
IRS Form W-8BEN, Cx7938 (“Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding”), should be prepared by, or on behalf of, a foreign person who is the beneficial owner of an amount subject to withholding by the IRS. Form W-8BEN was previously provided to clients that requested it, but will now be provided on a generic basis. Form W-8BEN will print for Foreign Nationals and Non-Permanent Resident Aliens, as well as for those whose citizenship status is unknown. All borrowers should get either Form W-9 or Form W-8BEN.
These changes will take effect on March 19, 2015. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
March 12, 2015