On May 7, 2022, the Internal Revenue Service (IRS) published DRAFT Instructions for the Requester of Forms W-8BEN, BEN-E, ECI, EXP, and IMY, revised as of June 2022. These instructions address updates that the IRS made to Forms W-8 and their accompanying instructions over the last year. The DRAFT Instructions to Requester include guidance regarding the following:
- Section 1446(f).
- Section 871(m) regulations and qualified securities lenders (QSLs).
- Foreign Taxpayer Identifying Number (FTIN) and where they are not legally required.
- Nonqualified Intermediaries (NQIs) that provide alternative withholding statements.
- Electronic signatures.
- Section 6050Y reporting
Check out the DRAFT Instruction for the Requester of Forms W-8BEN, BEN-E, ECI, EXP, and IMY (Rev. June 2022) here: