IRS Releases Draft U.S. Forms W-8
September 8, 2021

New U.S. Withholding Tax Documentation Forms are Forthcoming

Early in September 2021, the U.S. Internal Revenue Service released draft Forms W-8BEN-E, W-8BEN, W-8IMY, W-8ECI, and the related instructions. The Service has not yet released the draft Form W-8EXP. It is expected that the Form W-8EXP will be changed to encompass disclosures for Qualified Foreign Pension Funds.


Form W-8BEN-E

The Form W-8BEN-E is drafted to include changes for additional disclosures regarding Section 1446(f), a disclosure whether the governmental entity is considered an "integral part" of the foreign government, and foreign taxpayer identification number disclosures. The instructions were also updated regarding certain U.S. treaty claims and life insurance contracts. The draft instructions also specify when an electronic signature is acceptable on the form. Here are the links to the draft Form W-8BEN-E and the draft Form W-8BEN-E Instructions.


Form W-8BEN

The Form W-8BEN changes included changes to the signature certification checkbox and foreign taxpayer identification number disclosures. Here are the links to the draft Form W-8BEN and the draft Form W-8BEN Instructions.


Form W-8IMY

The Form W-8IMY is drafted to include changes for Qualified and Nonqualifed Intermediaries, Territory Financial Institutions, certain U.S. branches, and nonwithholding foreign partnerships. The form now includes a line to disclose the entity's foreign taxpayer identification number. Here are the links to the draft Form W-8IMY and the draft Form W-8IMY Instructions.


Form W-8ECI

The Form W-8ECI is updated to include a disclosure whether the governmental entity is considered an "integral part" of the foreign government, changes to the foreign taxpayer identification number disclosure, signature checkbox, and a Section 1446(f) disclosure for dealers. Here are the links to the draft Form W-8ECI and the draft Form W-8ECI Instructions.


Do you have questions regarding U.S. withholding tax documentation preparation, or U.S. FATCA? Please contact International Capital Associates, LLC if you need any assistance in understanding these disclosures or help with understanding U.S. withholding taxes.

House Passes Proposed Section 899

May 23, 2025
House Passes Proposed Section 899

U.S.-Russia Tax Treaty Suspension

June 18, 2024
The U.S. Department of the Treasury announced on June 17, 2024, that the United States has formally notified the Russian Federation about the suspension of certain articles and provisions of the Convention between the United States of America and the Russian Federation for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital, signed at Washington, June 17, 1992. This suspension will take effect on August 16, 2024, and will continue until otherwise decided by the two governments. This decision is in response to the Russian Federation's notification on August 8, 2023, expressing its desire to suspend specific articles and provisions of the Convention and the Protocol. The announcement can be seen at United States’ Notification of Suspension, By Mutual Agreement, of the 1992 Tax Convention with Russia | U.S. Department of the Treasury . Taxpayers who rely on the U.S.-Russia income tax treaty should plan for this suspension. Please contact International Capital Associates, LLC if you need help planning for the treaty suspension or if you need other U.S. tax services .