When opening an account with us, you must submit the appropriate U.S. IRS Form W-8. This form confirms your status for FATCA purposes and ensures compliance with U.S. tax withholding requirements.
If you already have an account, it means you have submitted the form. We will notify you when it's time to renew your form.
The renewal process will be straightforward on our platform, eliminating the need to manually download or upload the form. If you do need to download the form, you can find it here.
For more information, please visit the IRS website.
Will I get a tax reduction on U.S. dividends by submitting Form W-8BEN?
You will not get a tax reduction on U.S. dividends by submitting form W-8BEN. Singapore does not have a Double Taxation Treaty Agreement (DTA) with the U.S.. This means that FDAP income (fixed, determinable, annual, or periodical) from U.S. sources received by nonresident aliens is subject to a statutory withholding rate of 30%. However, by submitting Form W-8, you may qualify for an exemption from U.S. withholding tax on certain interest income.
You can find the countries that have tax treaty agreements with the U.S. on IRS website.