IB's US tax forms for non-US customers

P

panik

Hi,
I recently received the following email from IB:

>Dear IB Customer:
>
>The US Internal Revenue Service requires us to get updated tax
>forms every few years for non-US residents and citizens. As a
>result of recent changes in W-8 reporting, your existing
>information is incomplete under the current requirements. In
>order to complete or update your tax forms, please visit Account
>Management/Account Administration/Update W8
>
>Please note that if we do not receive updated tax forms by May
> 15, 2006, we may be required by the IRS to apply additional
>tax withholding to certain transactions in your account to meet
>US regulations.
>

I am a Dutch citizen (individual) living in the Netherlands,
trading only Eurex futures and Forex (no stocks so no dividents, and no US products, except the US$:).)
I had losses in 2004, around breakeven in 2005, and 2006 is
profitable (so far).

Anyone knows what's the best way to fill the W-8BEN form at IB?
(Especially sections 9 to 11.)

Also, what's the situation with the Dutch tax office?
I never filled up a tax return form before (so I didn't declare
the 2004 losses). What do you recommend I should do
for 2006 if profitable?

Thanks for your help.
 
Quote from panik:



.....

Anyone knows what's the best way to fill the W-8BEN form at IB?
(Especially sections 9 to 11.)
More...

What's so difficult about filling this form? I have to do it myself, but I don't remember Section 9 - 11.

Just tell them you are a non-US individual.



Also, what's the situation with the Dutch tax office?
More...

Taxes are handled differently in each country. Can't you simply ask your tax office? Much cheaper than asking a professional consultant and (mostly) more accurate.

Of course you should not ask how to hide your money in Liechtenstein.....:D

Regards

Bernd Kuerbs
 
I'm a Canadian.
IB Canada seems totally confused about the W8 forms.

I have different accounts... and I can't get a straight answer about anything.
I've been so concerned that I have discussed the situation with my Auditor.

The IRS is not someone you want to f*uck with...
But IB views all this super, ultra casually.

The online web form does not even tell you which version of the 3 different W8 forms you are filling out...
And I have no idea if this online web thingy is a legal replacement for an actual W8 form.

No one knows... and no one cares...
Except the guy trying to manage his business in a responsible way.

rm+

:cool: :cool: :cool:
 
Quote from just21:

I left section 9-11 blank. The machine accepted it.
More...


My sections 9 to 11 are blank, and I think that's why
IB's system complains...
 
Anyone knows whether there is a treaty for the Netherlands
and what the number is? (Section 10)

Also, at section 11, do I check it or not?
(what the hell is a "notional principal contract"?
I don't understand the help file...)
 
You must log in or register to reply here.
Back
Top