The W-8BEN-E Form is required for Australian SMSFs that derive investment income (e.g. dividends or interest) from US investments.
While the form might look a bit cumbersome this guide should have to completed the form in a few minutes.
While there are many sections to the form, you are only required to fill in Part I, Part III, Part XII and Part XXX.
Part I – Identification of Beneficial Owner
- Item 1. Write full name of the SMSF exactly as it appears on the Deed.
- Item 2. Write “Australia”.
- Item 3. Leave blank.
- Item 4. Tick “Complex trust”.
- Item 5. Tick “Nonreporting IGA FFI”.
- Item 6. Provide the SMSF’s principal place of business, or registered office address. Do not provide a PO Box or care-of address.
- Item 7. Leave blank.
- Item 8. Leave blank.
- Item 9a. Leave blank.
- Item 9b. Enter the SMSF’s ABN.
- Item 10. Leave blank.
Part III – Claim of Tax Treaty Benefits
- Item 14a. Tick box and write “Australia” in the space provided. ( The beneficial owner is a resident of AUSTRALIA within the meaning of the income tax treaty between the Unites States and that country.)
- Item 14b. Tick 2 boxes. 1) Tick the first box “The beneficial owner derives the item (or items) of income for…”. 2) Tick the 3rd box “Tax exempt pension trust or pension fund”.
- Item 14c. Leave blank.
- Item 15. Leave blank.
Part XII – Nonreporting IGA FFI
- Item 26. Tick the first box. Write “Australia”, tick box for Model 1 IGA and write “Australian retirement fund” in the space after it says “is treated as a …”
- Leave blank for the rest.
Part XXX: Certification
Only one individual trustee or one director of a corporate trustee should print their name and sign and write the date of signing the form (in US date format MM/DD/YYYY).
By signing this form, the authorised person agrees to submit a new form within 30 days following a change in circumstances such that any/all of the information on this form becomes incorrect.
Tick the box certifying that this person has the capacity to sign for the SMSF.
Once the form is completed send a copy to your provider (CommSec, Interactive Brokers, SAXO etc).