After conducting an audit of our IRS forms, it has come to our attention that the IRS published an updated version of form W-8BEN Certification of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals). The updated form contains changes to revision dates as well as various text edits that include the following:
- In Part II, the “explain the reasons the beneficial owner meets the terms of the treaty article” is now “Explain the additional conditions in the Article and paragraph the beneficial owner meets to be eligible for the rate of withholding;”
- In Part III bullet point one, the provision “as an individual that is an owner or account holder of a foreign financial institution” has been changed to “for chapter 4 purposes.”
Accordingly, Docutech has updated our Cx7938 and Cx14865 forms to reflect these changes.
This update will be available on December 30th, 2016. Please direct any questions or concerns to Client Support at 1.800.497.3584.