Fill Out Form W-8BEN

When applying for an Interactive Brokers account with Darwinex, you'll be required to fill out and send us Form W-8BEN.

If you're not an individual but an entity, you need to file a Form W-8BEN-E. Get in touch with compliance@darwinex.com for this.

If you're opening an Interactive Brokers (IB) account with Darwinex, you'll be required to send us this form via email when requesting the opening of the IB account. However, if you're only trading stock CFDs with Darwinex brokerage, you'll be asked fo fill out the W-8BEN through the Darwinex platform starting 2021 and don't need to send this form via email.

Contents

Purpose of Form

Expiration

Change in circumstances

Specific Instructions

Dividend Withholding Rate per Treaty

Purpose of Form

Foreign persons are subject to U.S. tax at a 30% rate on income they receive from U.S. sources. Stock dividends are counted as such income.

If you receive dividends, you must provide Form W-8BEN to:

  • Establish that you are not a U.S. person;
  • Claim that you are the beneficial owner of the income for which Form W-8BEN is being provided; and
  • If applicable, claim a reduced rate of withholding as a resident of a foreign country with which the United States has an income tax treaty and who is eligible for treaty benefits.

Darwinex and its partner and prime brokers rely on a properly completed Form W-8BEN to treat a payment associated with the Form W-8BEN as a payment to a not a U.S. person who beneficially owns the amounts paid. If applicable, we rely on the Form W-8BEN to apply a reduced rate of withholding at source.

If you own the account jointly with one or more other persons, the account will be treated  as owned by a not a U.S. person that is a beneficial owner of a payment only if Forms W-8BEN are provided by all of the owners.

Expiration of Form W-8BEN

Form W-8BEN will remain in effect for purposes of establishing foreign status for a period starting on the date the form is signed and ending on the last day of the third succeeding calendar year, unless a change in circumstances makes any information on the form incorrect. For example, a Form W-8BEN signed on September 30, 2015, remains valid through December 31, 2018.

Change in circumstances

If a change in circumstances makes any information on the Form W-8BEN you have
submitted incorrect, you must notify us within 30 days of the change in circumstances and file a new Form W-8BEN or other appropriate form.

A change of address to an address in the United States is a change in circumstances. Generally, a change of address within the same foreign country or to another foreign country is not a change in circumstances.

However, if you use Form W-8BEN to claim treaty benefits, a move outside the country where you have been claiming treaty benefits is a change in circumstances.

Specific Instructions

Download Complete Instructions for Form W-8BEN (PDF)

Line 1 Enter your name.
Line 2 Enter your country of citizenship. If you are a dual citizen, enter the country where you are both a citizen and a resident at the time you complete this form. If you are not a resident in any country in which you have citizenship, enter the country where you were most recently a resident.
Line 3 Your permanent residence address is the address in the country where you claim to be a resident for purposes of that country’s income tax. If you are completing Form W-8BEN to claim a reduced rate of withholding under an income tax treaty, you must determine your residency in the manner required by the treaty. Do not show the address of a financial institution, a post office box, or an address used solely for mailing purposes. If you do not have a tax residence in any country, your permanent residence is where you normally reside. If you reside in a country that does not use street addresses, you may enter a descriptive address on line 3. The address must accurately indicate your permanent residence in the manner used in your jurisdiction.
Line 4 Enter your mailing address only if it is different from the address you show on line 3.
Line 5 If you are claiming treaty benefits, you are generally required to provide an ITIN if you do not provide a tax identifying number issued to you by your jurisdiction of tax residence on line 6. However, an ITIN is not required to claim treaty benefits relating to dividends and interest from stocks.
Line 6 Enter your individual tax identification number issued to you by your jurisdiction of tax residence.
Line 7 Leave this line empty.
Line 8 Use the following format to input your information: MM-DD-YYYY. For example, if you were born on April 15, 1956, you would enter 04-15-1956.
Line 9 If you are claiming treaty benefits as a resident of a foreign country with which the United States has an income tax treaty for payments subject to withholding, identify the country where you claim to be a resident for income tax treaty purposes. Download list of tax treaties (PDF)
Line 10 Leave this line empty (it's not needed for the purpose of claiming treaty benefits for US stock dividends).

Dividend Withholding Rate per Treaty

If a country appears in column 1 but column 2 states N/A then the statutory rate of withholding applies, which is 30%. Similarly, if a country is not listed in column 1, the applicable withholding rate is 30%.

Last run 8/3/2020.

Treaty Country

Withholding Rate

United Kingdom

15%

American Samoa

N/A

Andorra

N/A

Argentina

N/A

Aruba

N/A

Australia

15%

Austria

15%

Bahamas

N/A

Bangladesh

N/A

Barbados

15%

Belgium

15%

Bermuda

N/A

Bolivia

N/A

Brazil

N/A

British Virgin Islands

N/A

Canada

15%

Cayman Islands

N/A

Channel Islands

N/A

Chile

N/A

China

10%

Colombia

N/A

Costa Rica

N/A

Cyprus

15%

Czech Republic

15%

Denmark

15%

Dominica

N/A

Dominican Republic

N/A

Egypt

15%

El Salvador

N/A

Estonia

15%

Fiji

N/A

Finland

15%

France

15%

Germany

15%

Gibraltar

N/A

Greece

no general reduction

Grenada

N/A

Guam

N/A

Guyana

N/A

Honduras

N/A

Hong Kong

N/A

Hungary

15%

Iceland

15%

India

25%

Indonesia

15%

Ireland

15%

Isle of Man

N/A

Israel

25%

Italy

15%

Jamaica

15%

Japan

10%

Jordan

N/A

Kazakhstan

15%

Korea

15%

Latvia

15%

Liechtenstein

N/A

Lithuania

15%

Luxembourg

15%

Madeira

N/A

Malaysia

N/A

Malta

N/A

Mexico

15%

Monaco

N/A

Morocco

15%

Netherlands

15%

Netherlands Antilles

N/A

New Zealand

15%

Norway

15%

Pakistan

15% (applies only to companies not individuals)

Panama

N/A

Peru

N/A

Philippines

25%

Poland

15%

Portugal

15%

Romania

10%

Russia

10%

Saint Lucia

N/A

Saint Vincent and the Grenadines

N/A

Singapore

N/A

Slovak Republic

15%

Slovenia

15%

South Africa

15%

Spain

15%

Sri Lanka

N/A

Sweden

15%

Switzerland

15%

Taiwan

N/A

Thailand

15%

Trinidad and Tobago

25%

Tunisia

25%

Turkey

15%

Ukraine

15%

United Kingdom

15%