For more information, I filed my taxes, using a tax treaty through Sprintax. I believe the W8BEN is regarding tax withholding, although my employer withholds my taxes for me. Is this not the same kind of withholding? And does not sending the bank my W8BEN before tax date affect me, if it was not required by Sprintax?
My understanding is that W8BEN is for the government to keep track that this account with the bank belongs to an NRA. If I've filed my taxes with a treaty, and don't submit my W8BEN, does this affect my refund? Or could I get into worse trouble because of this? Or is it not required, since my taxes filed with Sprintax verify that I'm an NRA? Edit: I have also submitted a W4 to my employer, in case that affects anything. I also have an SSN and an ITIN on file
I asked the bank and they said they couldn't help me, which I completely understand, but they also said they couldn't give me any more information since they aren't versed with the tax codes. That totally makes sense, but I'm just looking for more information, because I'd hate to get into trouble with the IRS because I didn't check the mail. According to Sprintax, I had already received all the tax forms required, so I didn't think to check anymore, but I see that was stupid.
I'm an international student on stipend. I filed my taxes through Sprintax but missed a letter from the bank requesting a W8BEN. The bank says they can't help, but Sprintax says this form might not be necessary. How does not submitting the W8BEN affect me?
byu/Metallidoge intax
Posted by Metallidoge
1 Comment
Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting) is a document for non-US individuals to certify they are foreign, not US citizens, and to claim tax treaty benefits (if any). If a treaty applies to you, the W8BEN may prevent a mandatory 30% tax withholding on US-source income, reducing it to treaty rates. In your case it probably makes very little difference. For tax year 2025, review your 1099 from the bank and see how much tax was withheld. This is not a big deal, my friend.