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Instructions for Expiration of W8BEN

Question: 
I read the comments and the instructions regarding the expiration of W8BEN. Once the W8BEN expires, does the Bank just require another completed W8BEN or do we need to take other action?
Answer: 

Answer by Randy Carey: You either have to get an updated W8-BEN from the customer or begin backup withholding on any interest bearing accounts.

Answer: 

Answer by John Burnett: Or, if the individual has become a U.S. person (resident alien or naturalized citizen), get a W-9 if the individual is the sole owner of an interest-earning account, and ensure your records have his or her Social Security number.

First published on BankersOnline.com 2/11/13

First published on 02/11/2013

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