How to Submit a Update W-8BEN and/or a W-8BEN-E Form Request

Applies To:

All Portfolio Managers, Advisors, Wealth Planners, and support staff.

Eligible account types for a W-8BEN: Cash accounts, Joint accounts, Margin accounts, TFSA, RRSP, RESP, RDSP, FHSA, and Trust accounts.

Eligible account types for a W-8BEN-E: Entity Cash Accounts.

You can submit a W-8BEN and/or W-8BEN-E Request from the client’s CRM Contact Record. Use the instructions below to ensure the W-8BEN and/or W-8BEN-E meets the eligibility requirements and the correct details are provided.

When to Submit an W-8BEN and/or W-8BEN-E

For a W-8BEN:

Opening a U.S. Investment Account.
Receiving U.S.-Source Income.
Updating Expired or Outdated Information.

For a W-8BEN-E:

A Canadian Entity Holding U.S. Investments.
Claiming Tax Treaty Benefits as an Entity.
Fulfilling FATCA Compliance Requirements.
Updating Entity Information.

How to Submit a Update W-8BEN and/or a W-8BEN-E

To submit a W-8BEN and/or a W-8BEN-E Form Update, you'll use the Service Extension on the client's CRM Contact Record. When submitting the request, there are two distinct submission methods and workflows: Wet Signature, which involves downloading the pre-populated document and getting it physically signed. Electronic Signature, which automatically generates the required forms and sends them to the client through DocuSign.

Although both methods are valid, we strongly recommend using Electronic Signature whenever possible for real-time tracking, reduced errors, and faster turnaround times.

Learn more about Wet Signature Flexibility

How to Submit a Update W-8BEN

Choose this method if your client has already completed and signed the required forms.

Navigate to the Client's CRM Contact Record
Go to the Servicing Tab
Select Account Administration → Update Account Documentation
Select Update W-8BEN
Select the Account Root
Upload Required Documents:
- Signed W-8BEN by the client
Review & Submit
- Once you confirm the details, click Submit to create the service request ticket.

Tip: Double-check that the uploaded forms include signatures and correct account details to avoid processing delays.

How to Submit a W-8BEN-E Form

With STP, Optimize automatically generates and emails the necessary forms to your client for electronic signing through DocuSign.

Navigate to the Client's CRM Contact Record
Go to the Servicing Tab
Select Account Administration → Update Account Documentation
Select Update W-8BEN-E
Select the Account Root
Select the appropriate submission option, either Wet Signature or Electronic Signature.
Enter the Legal Name of the Entity and the country of Incorporation or Organization. Depending on the country you’ve chosen, you’ll need to enter the appropriate ID number
Confirm the FATCA status by indicating whether the entity is a financial institution.
Confirm the CRS status.
Enter the Entity Permanent Address.
Review all service request details carefully to ensure accuracy. Once confirmed, click submit to process the request

Please note: After submitting your request, the system will automatically create a ticket and send the paperwork directly to your client via DocuSign for electronic signatures.

If you select the wet signature option, you'll need to download the pre-populated forms for your client to sign manually.

After Submitting the Request

A new service request ticket will be created. You can locate it:

In the Right-Side Panel of the client's CRM Contact Record under Tickets.
In the Account Administration Pipeline, where you can track the progress and confirm when the request is completed.

Processing Times

Wet Signature Submission: Processed within 7 business days.
Electronic Signature Submission: Typically completed within 1 business day of receiving signed documents.