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An account holder is generally the person listed or identified as the holder or owner of a financial account.

For example, if a partnership is listed as the holder or owner of a financial account, then the partnership is the account holder, rather than the partners of the partnership.

Chapter 4 also requires participating FFIs and certain registered deemed-compliant FFIs to document their entity account holders in order to determine their chapter 4 status regardless of whether withholding applies to any payments made to the entities.

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This form is used by foreign entities to document their status for purposes of chapter 3 and chapter 4, as well as for certain other Code provisions as described later in these instructions. A payment is considered to have been made whether it is made directly to the beneficial owner or to another person, such as an intermediary, agent, or partnership, for the benefit of the beneficial owner.

tax at a 30% rate (the foreign-person withholding rate) on income they receive from U. sources that consists of: This tax is imposed on the gross amount paid and is generally collected by withholding under section 1441 or 1442 on that amount.

For purposes of section 1446, the amount subject to withholding is the foreign partner’s share of the partnership’s effectively connected taxable income.

For payments other than those for which a reduced rate of, or exemption from, withholding is claimed under an income tax treaty, the beneficial owner of income is generally the person who is required under U. tax principles to include the payment in gross income on a tax return. grantor trust or disregarded entity shall not provide the withholding agent a Form W-9 in its own right. person, foreign individual, participating FFI, deemed-compliant FFI, restricted distributor, exempt beneficial owner, nonparticipating FFI, territory financial institution, excepted NFFE, or passive NFFE.

Failure to provide a Form W-8BEN-E when requested may lead to withholding at a 30% rate (foreign-person withholding rate) or the backup withholding rate in certain cases when you receive a payment to which backup withholding applies.

In addition to the requirements of chapter 3, chapter 4 requires withholding agents to identify the chapter 4 status of entities that are payees receiving withholdable payments (see the instructions for Part I, line 5, of this form, later).

However, in some cases the documentation requirements of sections 14 do not match the documentation requirements of section 1446.

See Regulations sections 1.1446-1 through 1.1446-6. Further, the owner of a disregarded entity, rather than the disregarded entity itself, submits the appropriate Form W-8 for purposes of section 1446.

A withholding agent or payer of the income may rely on a properly completed Form W-8BEN-E to treat a payment associated with the Form W-8BEN-E as a payment to a foreign person who beneficially owns the amounts paid.

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