About W-8 forms

There are several types of W-8 form. For CommSec International Shares Accounts, you may be asked to provide forms including:

• W-8BEN – generally used by foreign individuals to provide information about their status for U.S. withholding and reporting purposes.
• W-8BEN-E – used by certain foreign entities and includes additional questions about the entity's U.S. tax status, including its FATCA classification.

If you're completing an entity form and aren't sure about the entity's tax classification, FATCA classification or treaty eligibility, consider seeking independent professional tax advice.

We use W-8 documentation to provide information needed for U.S. withholding and reporting on your International Shares Account. Depending on your circumstances, valid documentation may also support a reduced rate of U.S. withholding under an applicable tax treaty.

W-8BEN and W-8BEN-E forms are generally valid until 31 December of the third calendar year after the year they were signed. Different rules can apply in some circumstances. A form can also stop being valid earlier if information on it is no longer correct.

W-8 forms need to be completed and submitted electronically through the International Shares platform.

For step-by-step instructions, see the relevant W-8 renewal guide:

• W-8BEN Renewal Guide
• W-8BEN-E Renewal Guide

If valid U.S. tax documentation is no longer held, the withholding or reporting treatment applied to relevant payments may change.

In some circumstances, a higher rate of U.S. withholding may apply. There isn't one withholding rate that applies in every situation. Any amount withheld is not necessarily the same as your final U.S. or Australian tax liability.

The above table is only used to show the difference a valid W-8 form can make. There may be other tax implications. Please speak to your accountant to understand your personal situation and implications. 

If a change makes information on your W-8 incorrect, don't wait until the form reaches its normal expiry.

Internal Revenue Service (IRS) rules generally require you to notify the relevant withholding agent, payer or financial institution within 30 days of a change that makes information on a W-8BEN or W-8BEN-E incorrect.

Whether a change affects your U.S. tax status, the documentation you need or the tax treatment of a payment depends on your circumstances.

If you're unsure how a change affects your tax position or how to answer a tax question, consider seeking independent professional tax advice.

If you have a joint International Shares Account, both account holders need to complete and submit their own W-8 form. This means two separate W-8 forms are required for the account.

If we’ve asked you to renew your W-8 for the joint account, each account holder will need to complete their renewal separately.

For trust, organisation and SMSF accounts, only the primary account holder needs to complete the W-8 tax form for the account. If the W-8 form we have on file is due to expire at the end of the calendar year, we’ll contact the primary account holder with instructions on how to renew it.