W8-BEN/Withholding Tax issues

Help
#1

Up until recently, around septmeber, after my W8-BEN had been submitted, I was paying near to no tax on US Dividends due to the tax treaty between my country and the US. But since start of november suddenly I have gotten the 30% withholding tax deducted from my dividends and I have no idea why.
After having talked to various people in the help chat who failed to help me and still having gotten no response from the helper who told me he would get back to me (over two weeks ago), I feel it is necessary to post my issue here.

Is anybody else experiencing something similar, or can anybody help?

Many thanks

#2

@Vedran I think you also experienced something similar to this.

@David & @Tony.V or @Team212 any issue on this front for the submission of W8-BEN forms?

@mp178 - I have tagged the needed people - you should get an answer by tomorrow fingers crossed.

2 Likes
#3

Great, Thank you for helping out!

#4

I still have not heard anything and my dividends are still being taxed to much… really getting me frustrated!

#5

Reach out to T212 support via chat or email. I solved my issue via persistent approach.

#6

I have already written three times and still no reply…

#7

:wave:

@mp178 I can see that our team already shared more information about the matter via email (please excuse us for the delay). Nonetheless, for further references & useful information, you may also check the article below:

#8

Yes, I just received the e-mail, and thanks for getting back to me! I understand that in these times there might be a lot to handle, so no worries! As long as I do get a reply everything is fine​:+1::+1:

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#9

Do we need one of these (W-8BEN) if we buy stocks in dollars even though they are not a US stock?

For example these are in dollars but on LSE:

OGZD (Gazprom)

ROSN (Rosneft)

Be good to have some clarification.

#10

Hello :wave: ,

The W8-Ben form is only required when investing in US equities.

It will not be necessary when investing in stocks listed on the LSE

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#11

Thanks. So I’m using an ISA by the way.

Even as these are in dollars I don’t need to declare anything just buy and sell as normal?

I just need to be aware of the FX impact?

#12

Thanks. So I’m using an ISA by the way.

Even as these are in dollars I don’t need to declare anything just buy and sell as normal?

I just need to be aware of the FX impact?

@B.E

#13

@DKBTRADER ISA is completely tax-free and there will be no need to declare anything to your tax authorities about it. Yet feel free to consult them for further information.

Additionally, If you invest in stocks and ETFs in a different currency than your account’s (for example US stocks), the Forex impact and currency pair fluctuations can indeed influence your result.

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