How To Complete IRS Form W-9 & W-8 Withholding Certificates

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Review the various rules and circumstances which determine what type of withholding certificate you must complete

This guide aims to educate U.S. and non-U.S. individuals and companies on which version of the IRS withholding certificate they should complete and provide to a withholding agent. If you try to open a U.S. bank account, Amazon seller account, brokerage account, etc., the institution will ask you to complete a Form W-9 or Form W-8 withholding certificate. It is your responsibility to pick the correct one and furnish accurate information to the withholding agent. Failure to accurately complete a withholding certificate can result in unnecessary withholding taxes, fines, and penalties.

The IRS designed the withholding certificates to identify the beneficial owner of the income or account. The withholding agents also use the certificate to determine whether they must withhold any taxes on income paid to your account and whether the agent must report the payments to the IRS via a Form 1099 or Form 1042-S.

The course will cover the following topics and materials:

1. What is the IRS withholding certificate and where do I download the forms?

2. Who needs to complete the withholding certificate, and who is asking for them?

3. Review the IRS Form W-9 with several examples.

4. Review the IRS Form W-8BEN with several examples.

5. Review the IRS Form W-8BEN-E with several examples

6. Review the IRS Form W-8IMY with several examples

7. When does the beneficial owner need to update their withholding certificates?

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