Signed Electronically Form W-8BEN Made Easy

Signed electronically form w 8ben

hello guys this is pt trader so we're going to continue our journey in starting a tda account for foreign applicants so this is part three and i'm going to teach you how to fill up the irs form or the w8bn and trusted contacts form so let's start on what to do so first of course open your irs w8bn form so here is the link you can copy it so let's go to the form so first this is the certificate of foreign status of beneficial owner for u.s tax withholding and reporting so basically td ameritrade is a brokerage and they need this form so they can submit it to the irs when filing for tax so they handle this and you just need to submit this form to prove that you are not a us resident so let's start filling up the information so for part one this is the identification so you just put your name and country of citizenship so mine's philippines permanent address so it's better if the address is similar to the one in your account application of course okay so city stater province and postal id country again is philippines so mailing address if you have a different address from above the number five u.s taxpayer identification number since you are not a us resident you can leave this blank so this is a crucial one this is the foreign tax identifying number so for filipino citizens you can have this as your bir tin number so for students you can apply at the bir so you're just going to state that you're a student and they're going to give you an application form for this while and for employed individuals of course they already have their bir tin number so we just right there let's just type a hypothetical here nine digit number reference numbers you can leave it blank date of birth let's add it there okay i had a hypothetical birthday so for part two here's the crucial one so it varies from which country you reside for line 9 it just asks for which country do you live in so mine is philippines so for line 10 this is specific to your country on what treaty do they have with the us regarding the tax so let's go back to our slides to check how do we go from here so we we have done part two filling up part one which is the identification and three this is the foreign tax identifying number this is equivalent to your bi or tin again and students can also apply just browse the bir website so that's it for line 10 we need to go to the this link this is from the irs they have the treaty from the philippines you just need to copy this link so let's go so here is the copy of the tax treaty from philippines with us so let's try to browse it so the thing that you will consider this is the dividends since this is a stock trading account so it's article 11. so let's try to search it there keep browsing down there you go article 11. so the main line that you would need to read is that the rate of tax imposed to the philippines is 25 of the gross amount of dividend so it's a 25 tax basically so how do we write it let's go back to the form okay just read this the benef the beneficial owner is claiming the provisions of article and paragraph so again it's article 11 sorry and paragraph is two so let's check it again so article 11 paragraph 2 where you find 25 of the dividends so claim a 25 rate of withholding on what type of income it is dividends so you can leave this blank and we already understood what you mean from line 10 and from the fact that you put philippines in line or which country do you reside in is it just proves that you're not a resident from the united states so i just filled up line 10 so we can be all clear with td and merit read so they also can quickly verify your account so part 3 certification you just need to review this and of course before we print input your name and the date that you made this form filled it up so let's just write september 18 2020 so for the signature please do not put an electronic signature you need to print this form first before you sign it with a ball pin ink okay so going back to the slides we filled up part two line nine is the country which you reside in line 10 is the article and paragraph that where they can find the tax treaty between u.s and their country what percent of tax would you hold for what type of income so it's 25 dividends and again you reviewed part three input your name and date print the form of course then handwrite your signature so that's it for w8 bin if you have questions you can comment down below so you see that's just very quick on how to fill up your irs w8 band so next we have the trusted contacts so you can open the trusted contacts form from this td ameritrade link or you can find it in the website so you can copy this link let's go so that's it the trusted contact authorization form so of course just put your account number it's a nine digit account number and your full name the one you put in your ad in your application so for trusted contacts these are the people that their tda is going to contact in case they know want to know your whereabouts or your health status so basically it's just like an emergency contact reference so you just need to input their personal info so this could be a close family member your spouse or children or sibling and it's anyone's close to you so here's the crucial part is put a check here if this trusted contact supersedes the other one that you're going to put so like i said they just use this for emergency purposes and you can type your account name the date you fill this up so it's september 18 2020 then again and write your signature print this form first do not add an electronic signature okay since tda is very strict on these policies and they want to have a secure verification of your account so let's go back to the slides of on what we did with the trusted contact form of course you input your account number found in the application your application form together with your name then fill up at least one trusted contact you can have two at max then at the end input your printed name and the date you filled it up review if you need if there are some errors you need to change and lastly handwrite the signature so this is the very important thing that we should remember since td does not accept these signatures so that's it for filling up the irs form w8 bin and trusted contacts so for our next video part four we will discuss how do you send this application without going through the fax and overnight email from your courier okay so stay tuned for part four send in your tda application good day and god bless