W8-W9 Discussion
This thread is for discussion of IRS forms W8 (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting) and W9 (Request for Taxpayer Identification and Certification).
See also general banking issues and other banking issue sub-thread links at Banking Issues.
Enough already. We get it Move on.
I am asked to sign a W-8 form to do certain services at a bank I have been a customer at for fifteen years.
I refuse to sign.
I most certainly object t signing an American form, when I am in no way American. I should be forced to sign a South African or Japanese form if those countries decide I’m supposed to.
For one thing, by signing an American form, I make myself susceptible to American-law perjury accusations. Who needs that grief?
Some banks sell financial products which could include US investments. For that, they need a signed W-9 or W-8 form, depending on whether the account applicant is a US citizen or
not.
If the account applicant has US indicia, such as a US place of birth, the bank also needs a self-certification form. Some banks use one W-8 form for both purposes; some use their own form for self-certification, so that they can use one form for both FATCA and CRS tax-residence.
Here in the UK, we do indeed have the right to refuse to sign a US form, and we exercise that right by taking our business elsewhere. There’s no law in the UK that obliges a bank to open an account for an applicant who is not willing to comply with the terms and conditions attached to the account.
I’d be interested to hear if it’s different in France.