I can't seem to find W8 form in my brokerage account page, but when I google I land on this -https://ew8login.vanguard.com/us/faces/ ... ogin.xhtmlVanguard definitely has an online W-8BEN feature; I've used it (many, many times!). It's a clunky process, but functional. Its major annoyance is duplication. For example, I have to file four identical W-8BENs every three years, one for each account I hold. You would think one W-8BEN would do for all four accounts, but no. Moreover, these W-8BENs are identical to the ones I did three years before, since I am still the same person living in the same country.
I don't know where you would find it in a Vanguard brokerage account -- not only is my Vanguard account mutual-fund only, but the online W-8BEN page moves around as Vanguard "improves the customer experience", so that it's never readily findable. If you do a search though you should find it. Failing that, Vanguard customer service should be able to help out.
Looks like I need a registration code to sign up for the service. Guess I need to contact Vanguard for that.
This makes sense and I obviously want to avoid the cost of any audits in the future. I might as well do the W8-BEN.I think you will have a stochastic downside and penalty from the IRS; specifically the increased probability of a tax audit which would cost you time, money and frustration. You will be reporting yourself to the IRS as a US non-resident. Vanguard will be reporting you to the IRS as a US resident. Some of the tax documents you file will be for US residents (1099's for investment income) and some will be for US non-residents (US 1040-NR).
Another question I have is - if we do withdrawals from IRA and move to Roth IRA, will I get 1099-R or 1042-S if I file the W8-BEN?
Statistics: Posted by ukusinvestor — Sat Feb 17, 2024 3:21 am — Replies 8 — Views 714