Inverstor W-8BEN form

[joshteo]

Hi,

Does anyone know why an EasyEquities user has to complete a W-8BEN Form "This form is a requirement of the Internal Revenue Service (IRS) in order to invest in U.S. equities" or be blocked from transacting? I would have thought it was only if the user holds a US account, not just local shares or ETFs. Are there any competitors to EE that don't require this? Thank you!

 

[villeverte]

@joshteo Maybe things have changed since I signed up, but I've never had to complete this form. With that said, I only invest in my ZAR and TFSA accounts within EE, so that could also explain it, since these are all indirect US stocks (Rand denominated).

 

[joshteo]

@villeverte Thank you, that's what I thought, makes no sense