US Internal Revenue Service (IRS) Rejecting the Form W-8BEN
We have been informed that the US Internal Revenue Service (IRS) has been rejecting Form W-8BEN produced by share registrars and insist upon the production of the IRS Official Form. This form has to be filed with the company registrars to prevent withholding taxes being applied to dividend payment.
Anyone holding US shares has to renew the Form W-8BEN every three years commencing from the 31st December of the year in which the Form is first filed.
Recently, company registrars have been insisting upon production of this form in order to register a transfer of the shares; and the stock brokers for compliance purposes also need a copy of the same.
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