W-8 BEN Form

What is W-8 BEN Form?

W-8BEN form is Internal Revenue Service (IRS) tax document that must be filed by non-US taxpayers who earn US-sourced income, such as interest or dividends. Form W-8 BEN must be on file with moomoo, who are required to withhold taxes of up to 30% US-sourced income such as interest and dividends.

What happens if the W-8 BEN form expires?

If you fail to provide a Form W-8 BEN, or do not resubmit a new W-8 BEN when prompted upon the three-year expiration, additional FATCA withholding will apply. Moomoo does not provide tax advice. 
We suggest you consult with a professional tax-advisor with regard to your personal circumstances.

Expiration of Form W-8BEN?

Generally, a Form W-8 BEN will remain in effect for purposes of establishing foreign status for a period starting on the date the form is signed and ending on the last day of the third succeeding calendar year, unless a change in circumstances makes any information on the form incorrect. For example, a Form W-8 BEN signed on September 30, 2015, remains valid through December 31, 2018.

How to Update Form W-8 BEN?

Moomoo will issue multiple renewal reminders if your W-8 BEN is nearing its expiration at the end of the calendar year. It’s important to respond promptly to these notifications and submit a new W-8 BEN form to ensure continuous tax compliance and favorable treaty rates. To renew the form, simply log into your account, navigate to [Account]> [More]> [Account Information: Account Profile] > Tax Form: update, and follow the renewal steps.
For more information about the W-8 BEN, please click here.