W-8, tax benefits at IBKR

[pastorphil]

I used the search enginge and have not found anyone talking about it. On the website they talk about filling out an W-8 and i dont understand what i need to do as a swiss resident, do i need to fill that form every 3 years out? What tax benefeits are there?

 

[virtualhope]

@pastorphil You only need to fill out the form if you plan to buy US ETFs (maybe also for US stocks?) to get back the last 15% withholding tax of the dividends from the IRS.

If you don't care or don't plan to buy US ETFs (e.g. because you buy IE ETFs) you can ignore it.

 

[pastorphil]

@virtualhope Im guessing if it want to buy $VT or $VTI ill have to do the form right?

 

[virtualhope]

@pastorphil Correct, if you want to get the taxes back. You can always donate them to the IRS

 

[prayer75]

@pastorphil Everyone files w8/9 with IB and you will be asked to update it every year. With this form you can claim de CH-US tax treaty rate of 15% instead of default 30%. There is no way around it.

 

[christhomas2]

@pastorphil Check your withholding tax for Dividends on U.S. Stocks or ETF, if 15% IB did that for you, if 30% open a ticket. You get a message if you have to fill out W-8 BEN, but I think since a few years they do it for you if you have Swiss tax residence.

 

[johnstalling]

@christhomas2 Where do you check?