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#1108316 - 01/09/09 03:58 PM W-8BEN or Not
Game On Offline
Platinum Poster
Joined: Jul 2001
Posts: 566
Marietta, GA
A US Person has an existing interest bearing checking account with us. We file form 1099-INT on his accounts each year.

Today he adds an NRA to the account. We know interest will still be reported using form 1099-INT and the US Person's TIN.

Would you get a W-8BEN certification from the new account owner even though her foreign status will not affect the way we report interest? I have read through some of the older threads and the webinar materials from last year, but I am still not sure if this would be advisable since the W-9 for the primary owner rules for tax reporting purposes.

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General Discussion
#1108604 - 01/09/09 08:39 PM Re: W-8BEN or Not Game On
SunnyFL, CRCM Offline
100 Club
Joined: Sep 2004
Posts: 205
FL
We do not. Our stance is why get it when you don't need it and worry about getting the W-8 BEN's updated etc. If they become primary on an account we get it then. The only time you would need a W-8 for all is if they are all non-resident aliens (without green cards).

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