OpenMarkets International Trading Service

W-8BEN Form How-To Guide

Before we can enable you access to trade U.S. stocks through Equix, you will need to complete a W-8BEN or W-8BEN-E Form. Joint account holders please note, to enable U.S. trading all account holders must complete a W-8 form.

What is a W-8 form?

A W-8 Form is a legal document required by the United States Internal Revenue Services (IRS) that allows foreign investors to claim special tax treaty benefits for dividends and interest payments relating to US investments. Completing a valid W-8 Form allows Australian residents to benefit from a reduced U.S. tax rate of 15% on such payments. Without a valid W-8 form, any dividends or interest payments received as a result of holding U.S. stocks would be subject to the higher tax rate at 30% (the statutory rate of withholding tax in the U.S.).
The two most common types of W-8 forms relevant to OpenMarkets clients:
1. W-8BEN for individuals
2. W-8BEN-E for entities i.e. companies and trust/super fund accounts

Completing your W-8 form online (using eCerts tool)

OpenMarkets has partnered with U.S. taxation agent GlobeTax to handle the registration of W-8 forms on behalf of our clients. To assist you in completing a W-8 Form, GlobeTax offers a secure online portal eCerts that will guide you through a series of questions, generating your W-8 form for you to complete and electronically sign.

 

Follow the steps below to complete your W-8 Form?

Step 1:

Click here to start the GlobeTax eCerts online assistance tool.

Step 2:

Register for a free login. Provide an email address, create a password and enter the Access Code:USDOCS3014

Step 3:

Enter your US Account ID provided to you by OpenMarkets on an email (it will ask you for an account number).

Step 4:

Select W-8 form type.

W-8BEN for individuals.
W-8BEN-E for entities i.e. companies and trust/super fund accounts.

Step 5:

Complete all details online marked with an asterisk (*). All other fields are not mandatory. Note: your ‘non-US tax identifier number’ is your Australian TFN.

Step 6:

Electronically sign

Download eCerts Step-by-Step Guide here.

Review and submit online through GlobeTax.

What happens next?

Once a valid W-8 form has been submitted and processed through GlobeTax, your OpenMarkets Equix login will be enabled for U.S. trading access and you’ll be ready to trade stocks such as Amazon, Netflix, Google, Cisco and Facebook (this can take up to 6 working days). We will notify you at this point by email.

For more information see our US Trading FAQs

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Questions? Need help?

Visit our interactive Help Centre for our frequently asked questions.

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