Hi, I recently received the following email from IB: >Dear IB Customer: > >The US Internal Revenue Service requires us to get updated tax >forms every few years for non-US residents and citizens. As a >result of recent changes in W-8 reporting, your existing >information is incomplete under the current requirements. In >order to complete or update your tax forms, please visit Account >Management/Account Administration/Update W8 > >Please note that if we do not receive updated tax forms by May > 15, 2006, we may be required by the IRS to apply additional >tax withholding to certain transactions in your account to meet >US regulations. > I am a Dutch citizen (individual) living in the Netherlands, trading only Eurex futures and Forex (no stocks so no dividents, and no US products, except the US$.) I had losses in 2004, around breakeven in 2005, and 2006 is profitable (so far). Anyone knows what's the best way to fill the W-8BEN form at IB? (Especially sections 9 to 11.) Also, what's the situation with the Dutch tax office? I never filled up a tax return form before (so I didn't declare the 2004 losses). What do you recommend I should do for 2006 if profitable? Thanks for your help.
What's so difficult about filling this form? I have to do it myself, but I don't remember Section 9 - 11. Just tell them you are a non-US individual. Taxes are handled differently in each country. Can't you simply ask your tax office? Much cheaper than asking a professional consultant and (mostly) more accurate. Of course you should not ask how to hide your money in Liechtenstein..... Regards Bernd Kuerbs
I'm a Canadian. IB Canada seems totally confused about the W8 forms. I have different accounts... and I can't get a straight answer about anything. I've been so concerned that I have discussed the situation with my Auditor. The IRS is not someone you want to f*uck with... But IB views all this super, ultra casually. The online web form does not even tell you which version of the 3 different W8 forms you are filling out... And I have no idea if this online web thingy is a legal replacement for an actual W8 form. No one knows... and no one cares... Except the guy trying to manage his business in a responsible way. rm+
Anyone knows whether there is a treaty for the Netherlands and what the number is? (Section 10) Also, at section 11, do I check it or not? (what the hell is a "notional principal contract"? I don't understand the help file...)