Pursuant to our monthly audit of Federal Agency forms and to match the model forms made available at https://www.irs.gov/pub/irs-pdf/fw8ben.pdf, we will be making the following changes to Cx7938:
The IRS has published an updated Form W-8BEN Certificate of Foreign Status of Beneficial Owners for United States Tax Withholding and Reporting (Individuals). We have added the line “Note: If you are resident in a FATCA partner jurisdiction (that is, a Model 1 IGA jurisdiction with reciprocity), certain tax account information may be provided to your jurisdiction of residence.” above Section 1. We also changed Box 6, Foreign Tax Identifying Number into boxes 6a, Foreign Tax Identifying Number and 6b, Check if FTIN Not Legally Required.
We have added the following fields to the document as well to facilitate these changes and add functionality to the form:
– Field name: Borrower Foreign Tax Identifying Number Not Legally Required [1-4]
– Field name: Borrower Capacity to Sign for Identified Person on W-8BEN [1-4]
These changes will take effect on November 9, 2021. Questions or concerns about these changes should be directed to Client Support at 1.800.479.3584.