UK Accounting Glossary
A W-8 Form is a request by a payer for a foreign payee’s tax withholding status under the United States Internal Revenue Code. The W-8 form is completed by the payee and returned to the payer. The payer references the information contained in a completed W-8 Form when determining whether such payer is required to withhold taxes from the payee or withhold at a reduced rate based on an income tax treaty. From the standpoint of the payer, a W-8 Form functions much the same as a W-9 Form, except a W-8 Form is for foreign payees instead of domestic ones (i.e. nonresident alien, any foreign corporation, partnership, trust, or estate). The most common purpose of a W-8 Form is to state to brokers and mutual fund companies that the foreign payee is not subject to U.S. tax withholding.
There are four versions of the W-8 Form. The U.S. Internal Revenue Service requires payers to issue the following versions of the W-8 Form under these conditions:
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This glossary post was last updated: 5th February 2020.