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?
Register for a free login. Provide an email address, create a password and enter the Access Code:USDOCS3014
Enter your US Account ID provided to you by OpenMarkets on an email (it will ask you for an account number).
Select W-8 form type.
W-8BEN for individuals.
W-8BEN-E for entities i.e. companies and trust/super fund accounts.