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Noob question: W-8BEN form to fill out for US stocks. Anything else to be aware of?

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  1. #1

    Noob question: W-8BEN form to fill out for US stocks. Anything else to be aware of?

    I'm a HK citizen and I need to submit the W-8BEN form in order to purchase US stocks.

    Just wondering if there's anything else I need to be aware of or need to do? Would I need to file tax in US as well? What if I had submitted the form, but ended up not buying any US stock? Would I need to do anything then?

    Thanks!


  2. #2

    Join Date
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    You don't need to do anything other than file the form with wherever you're buying US stocks.

    No US tax filing is required on income from your stocks or any gains and losses from your investment.

    If you don't buy stocks - again, it does not matter.

    Mapleleafgirl and alexdown like this.

  3. #3

    Thanks so much for your prompt response, Shri!!


  4. #4

    Join Date
    Mar 2007
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    635
    Quote Originally Posted by Mapleleafgirl:
    Thanks so much for your prompt response, Shri!!
    The form is to capture the 30% withholding tax on dividends / interest paid out by holding US stocks. The broker will auto deduct the amount and declare it in the form the next tax filing year. You just have to sign off and submit.

    No tax on trading gains though.
    Mapleleafgirl likes this.

  5. #5

    Join Date
    Mar 2010
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    The W8-BEN form basically serves to claim a reduced Dividend withholding tax based on a tax treaty between the country of your tax residency and the US.

    Technically, you don’t need to submit the form. With no form on record the bank/ broker withholds the standard 30%, no matter where you live.

    HK has no tax treaty, so to file or not to file, the result is the same.

    W8-BEN has an expiration date, pls look it up.

    Mapleleafgirl likes this.