Disclaimer: Please note that Saxo Capital Markets is not a registered tax specialist and is therefore not in a position to provide any tax-related advice. Any information contained herein and in the mentioned links is for your general information only and does not constitute tax and/or legal advice and should not be relied upon as such. If you are unsure about how to complete these forms, please seek independent tax, legal, or other professional advice before completing any FATCA/US TAX/OECD CRS Statutory declaration.
Forms and Templates:
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Company W-8BEN-E: Link to PDF
- The W-8BEN-E form (Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)) by the US Department of Treasury Internal Revenue Service (IRS) is used by foreign entities to establish that they are not US residents and are entitled to reduced tax on their US source income.
- Saxo is a Foreign Financial Institution (FFI) registered with the IRS. Chapter 4 requires participating FFIs to document their entity account holders to determine their Chapter 4 statuses, regardless of whether withholding applies to any payments made to the entities.
- This form must be completed to invest with a Saxo account, regardless of trading US products or not. It should be filled out in the company's name as shown on the official country registry and signed by an authorised representative, such as a Director, sole shareholder, or Unique Beneficial Owner (UBO).
- For instructions on completing these forms, visit IRS Instructions for W-8BEN-E where the IRS has the most current revision of instructions for the form.
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Trust Account W-8BEN-E: Link to PDF
- Similar to the Company W-8BEN-E, this form is used for trust accounts to establish non-US residency and entitlement to reduced tax on US source income.
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Company CRS: Link to PDF
- Under the Common Reporting Standard (CRS) regulation, Saxo must establish where an entity is resident for tax purposes. Clients need to fill in the ‘Entity Tax Residency Self-Certification Form’. If needed, Controlling Persons of the entity must fill in a ‘Controlling Person Tax Residency Self-Certification Form’.
- By completing the form, the client certifies where the entity is resident for tax purposes and establishes the classification of the entity under the CRS. This is crucial as Saxo will have different compliance and reporting obligations depending on the classification of the entity.
Additional Forms:
CRS Entity Self-Certification Form: Link to form
Clients are required to complete the CRS Entity Self-Certification Form to declare the entity's tax residency status under the Common Reporting Standard.
CRS Individual Self-Certification Form: Link to form
This form is for individuals to certify their tax residency status under the Common Reporting Standard.
W-8BEN-E form: Please fill in form
The W-8BEN-E form is essential for entities to certify their non-US residency status and claim reduced tax rates on US source income. It should be completed accurately and signed by an authorised representative.
Conclusion: Completing these forms accurately is essential for compliance with US and international tax regulations. If you have any questions or require assistance, please seek professional advice to ensure proper completion and submission.