Form W8-BEN-E: Claiming Treaty Benefits, Withholding Rates, and Chapter 3 and 4 Status
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will discuss the required preparation of Form W-8BEN-E, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting, by certain foreign entities transacting business with U.S. taxpayers and the related withholding requirements. Our panel of international tax experts will explain what constitutes a properly completed form, claiming treaty benefits, identifying the withholding agent, and applicable withholding rates.
Outline
- Form W-8BEN-E background
- Who is the payer or withholding agent?
- Types of income subject to withholding and reporting when paid to non-US persons
- Completing the form
- Chapter 3 status
- Chapter 4 status
- Disregarded entities
- Claiming treaty benefits
- Best practices
Benefits
The panel will cover these and other critical issues:
- How to complete Part III, Claim of Treaty Benefits, for reduced withholding rates provided by a treaty
- Determining who is the withholding agent responsible for remitting withholding
- What types of income are subject to the 30 percent withholding?
- When does a disregarded entity complete a W-8BEN-E?
Faculty
Carson M. Le
Senior Manager, Washington National Tax, Information Reporting and Withholding
KPMG US
Mr. Le advises internal and external clients on a range of documentation, entity classification, due diligence,... | Read More
Mr. Le advises internal and external clients on a range of documentation, entity classification, due diligence, reporting, and withholding requirements under chapters 3, 4, and 61 of the Internal Revenue Code; FATCA Intergovernmental Agreements (IGAs); and the OECD Common Reporting Standard (CRS) and advises on IRW impacts of acquisitions and organizational restructuring. He audits client procedures, documentation, and filing data to identify compliance failures and recommend operational improvements; manages remediation and reporting efforts of US and foreign financial institutions via ongoing compilation and analysis of account holder records; assists with the preparation and filing of IRS Forms 1042, 1042-S, 8804, 8805, 8966, 945, and 1099 series, as well as FATCA and CRS schema in various jurisdictions; validates Forms W-9, W-8, and self-certifications, responds to notices, files appeals, and requests for penalty abatement, and generally liaise with the IRS on behalf of clients.
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Danielle Nishida
Principal, Information Reporting & Withholding Tax
KPMG US
Ms. Nishida joined KPMG in April 2013 and practices in information reporting. She was previously an attorney in the... | Read More
Ms. Nishida joined KPMG in April 2013 and practices in information reporting. She was previously an attorney in the Office of Chief Counsel (International) at the Internal Revenue Service (IRS). At the IRS, she practiced in income tax withholding and Subpart F, and was a principal draftsperson of the FATCA regulations, the pending proposed chapter 3 and 61 conforming regulations, and other published guidance under sections 1441, 1442, 1471 through 1474, and 6050W. Ms. Nishida is a frequent speaker both in the U.S. and internationally regarding FATCA and other information reporting issues.
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