W-8BEN Form
As an international investor or non-U.S. resident, the W-8BEN form is an essential document. It is necessary to establish your foreign tax status that allows you to qualify for potential U.S. tax treaty benefits. This page guides you through completing the form.
Disclaimer
The information on this page is for general informational purposes only and is not tax or legal advice. LYNX does not provide tax advice. How you complete this form is your sole responsibility. Please consult the IRS official instructions for Form W-8BEN and/or your own tax adviser in case of questions or unclarity.
Login
- Open your browser and visit the Client Portal website
- Enter your username and your password
- Authenticate yourself via two-factor authentication
Navigate to the profile section
In the menu at the top right corner, select Welcome and then Settings.
In the Account Profile section, click Profile. In the Profile section, click on the blue ‘i’ icon.
Update your tax forms
After the pop-up window opens, click on Update Tax Forms at the bottom right.
Verify your personal information first. Continue by clicking Continue and update information as necessary until the W-8BEN form appears.
In Part II, indicate the country in which you are liable for taxes and confirm whether you qualify for U.S. tax treaty benefits. LYNX does not provide tax advice. How you complete this form is your sole responsibility.
At the bottom of Part III, agree to both statements and sign the form by entering your name exactly as shown beside the fill-in field.
Finally, click Continue until you receive the confirmation: “Your tax form update request has been submitted”.
Extra information
If you need help or advice in completing the W-8BEN form or determining your specific situation, please consult the IRS instructions for Form W-8BEN or your tax or legal adviser.
FAQ
What is the W-8BEN form and why is it important?
The W-8BEN form is crucial for individuals receiving income from U.S. sources who are not U.S. citizens or residents. It establishes foreign status and allows you to claim tax treaty benefits, qualifying for reduced or exempted tax rates to avoid double taxation. Providing the form to relevant parties helps prevent excessive withholding of taxes on your U.S.-source income, may reduce withholding tax from your U.S. investments.
What are tax treaty benefits?
Tax treaty benefits refer to the provisions outlined in tax treaties between the United States and foreign countries. These benefits can include reduced or exempted tax rates on certain types of income, such as dividends, interest, or royalties.
How often do I need to fill out the W-8BEN form?
A completed W8-BEN form is valid until December 31st of the third year after it is signed.
Form may require periodic updates or revisions based on changes in your circumstances. For example, if there are changes to your tax residency status or personal information, it is important to update the form accordingly.
Failure to submit the W-8BEN form may result in excessive tax withholding on your U.S.-source income. Without the form, the withholding agent or institution may be required to apply the default withholding rate, which could lead to higher taxes.
Can I claim tax treaty benefits without filling out the W-8BEN form?
No, the W-8BEN form is a necessary document to establish your foreign status and claim tax treaty benefits. Without a valid and completed form, you will not be able to take advantage of these benefits.
Do I need to consult a tax professional when filling out the W-8BEN form?
While we provide guidelines and support for filling out the form, it is always advisable to consult a tax professional or advisor familiar with international tax laws. They can help ensure compliance with both your home country’s tax regulations and the United States’ requirements.
You can also find official guidance on the IRS website (www.irs.gov), where you will find more detailed information around filling out a W-8BEN-E form. We strongly recommend you to consult this website, as the treaty with the US can be very complex.
Can I make changes to the W-8BEN form after submitting it?
Yes, if there are changes to your circumstances or the information provided on the form, you should update it accordingly. Follow the previous instructions to change your submitted form.
How do I fill the CRS form?
The Common Reporting Standard (CRS) form is an official tax form used to confirm your tax residency. Your declared residency determines whether you qualify for specific tax treaty benefits with countries such as Australia, Canada, and Israel.
You can complete the CRS form as follows:
- Log in to Account Management. In the menu at the top right corner, select Welcome and then Settings.
- In the Account Profile section, click Profile. In the Profile section, click the blue i icon.
- After the pop-up window opens, click Update Tax Forms at the bottom right.
- First, validate your W-8BEN form to gain access to the CRS form.
- On the CRS form, check the information displayed, confirm your tax residency details, and sign the form by entering your name exactly as shown.
Australian and Canadian Tax Declaration
You must confirm that you are not a tax resident of Australia or Canada. You also confirm that you are a tax resident of your own country and that you qualify for any applicable tax treaty benefits between that country and Australia or Canada.
Israeli Tax Declaration
You must confirm that you are not considered a “resident of Israel” under Israeli tax law. In addition, you agree not to hold Israeli shares in your account if they were acquired before the applicable initial public offering or if your holding exceeds 5% of the issued shares. Please note: the CRS form must be signed before you can apply for trading permission in Israeli stocks.
Finally, click Continue at the bottom right of the page until you receive the confirmation: “Your tax form update request has been submitted”.
If you are required to fill in the CRS form as part of your Annual Review, you can use the dedicated Annual Review guide.
Disclaimer:
If, after reading this page, you would need help or advice in completing the W-8BEN form or on determining your specific situation, please refer to the IRS’ officially published instructions for the W-8BEN form and/or to your tax or legal adviser.