The Expiring W-8BEN-E Report highlights corporate, trust, or partnership clients whose W-8BEN-E forms are nearing expiration or have already expired. Maintaining an up-to-date W-8BEN-E ensures these clients continue to benefit from reduced withholding rates on U.S. investment income according to applicable tax treaties. Proactive management prevents unnecessary withholding and protects client returns.
What is a W-8BEN-E Form?
A W-8BEN-E form is used by non-U.S. entities, such as corporations, partnerships, and trusts, to certify their foreign status and claim eligibility for reduced withholding tax rates on U.S. sourced income. Accurate and current W-8BEN-E forms ensure clients benefit from applicable treaty rates, avoiding the default higher U.S. withholding tax.
Why Clients Appear on this Report
Clients appear on the Expiring W-8BEN-E Report when their current W-8BEN-E form is approaching expiry or has recently expired. Like the W-8BEN form, the W-8BEN-E is generally valid for the remainder of the year it was signed, plus the following three full calendar years.
How this Impacts Clients
Clients with an expired W-8BEN-E form lose access to the reduced withholding rate available under treaties like the Canada-U.S. Tax Treaty. This results in U.S. income, such as dividends from U.S. securities, being subject to the default 30% withholding rate instead of the reduced treaty rate (typically 15%). Ensuring forms are renewed promptly helps clients avoid overpaying U.S. withholding tax.
How to Access the Expiring W-8BEN-E Report
To access the Expiring W-8BEN-E Report:
- Log in to the CRM portal.
- From the left navigation menu, click CRM > Contacts.
- On the account’s index page, you can access the report as a saved view by clicking +Add view to the right of the tabs on the index page, and selecting Expiring W-8BEN-E Report from the dropdown.
You will now see a filtered list of all clients whose W-8BEN-E forms are approaching expiry or have already expired.
Resolving Expiring or Expired W-8BEN-E Forms
To address expiring or expired W-8BEN-E forms, submit an update request through the CRM:
- Navigate to the client's CRM Contact Record.
- Submit an Update Account Documentation > W-8BEN-E Form Update service request.
For detailed instructions, see the related article: Learn how to update a W-8BEN-E form.
Best Practices
- Regularly review the Expiring W-8BEN Report monthly or quarterly to proactively manage upcoming expirations.
- Engage with clients well in advance of the expiration date to ensure sufficient time for processing and submission.