Stock Plan Services FAQs: Form W-8BEN

Form W-8BEN is an Internal Revenue Service (IRS) form that is required to be completed by a nonresident alien to certify that they are not a US resident for tax purposes. This form must be given to a US payer or withholding agent to ensure the correct amount of US taxes is withheld from US-sourced income.

Having an up-to-date tax certification will help ensure you are taxed correctly, based on your country of residence.

If you do not have a valid tax certification, you may be subject to additional tax withholding on sales (including the sale of your company shares) and on any interest, dividends, or royalties you receive.

You must certify your foreign tax status to avoid additional tax withholding, as mandated by the US Internal Revenue Service. You can complete IRS Form W-8BEN online through Fidelity NetBenefitsLog In Required.

You'll complete Form W-8BEN as part of the process of opening your account, and you'll be required to resubmit the form every three years.

If your circumstances change and the information on the form is no longer correct or valid, you'll need to complete a new Form W-8BEN with updated information.

Form W-8BEN expires on 31 December of the third year after you submitted the form. Before the form expires, you must complete a new form to recertify your tax status. Fidelity will send you a reminder when it's time to review.

If your circumstances change, and the information on the form is no longer correct or valid, you'll need to complete a new Form W-8BEN with updated information.

Not completing Form W-8BEN means you are not eligible for potential tax treaty rates and will likely pay excess taxes on your equity compensation when you sell the shares or receive dividends. In addition, you might not be eligible for a refund of any excess taxes that you paid. If you don't have a valid Form W-8BEN, we're required to withhold taxes from the sale of securities (including your company shares) at a rate of 24%. This is referred to as "backup withholding". We're also required to withhold tax at 30% on any interest and dividend payments you receive when you don't complete this form, instead of using any potential reduced rate under any tax treaty that may exist between the US and your country of residence.

Backup withholding is a form of tax withholding that all recordkeepers, including Fidelity, are required to make on gross proceeds from stock sales, interest income, dividends, or other kinds of payments that are reported on the various types of Form 1099 when an account holder is undocumented or does not certify their tax status.

If you have not completed and filed Form W-8BEN with the recordkeeper, you will be subject to 24% backup withholding on the gross proceeds from sales of securities (including your company shares) and 30% nonresident alien tax withholding on US-sourced dividend and interest payments you receive.

You can log in to Fidelity NetBenefitsLog In Required to complete Form W-8BEN online—this is the easiest and most convenient way to certify your tax status. When you log in, please have your participant number or username available. Select the link to your account and follow the instructions.

If you would prefer to print and complete the form, you can download the form (PDF) as well as the instructions (PDF) to complete it.

• You must provide your Foreign Tax Identification Number (FTIN) or an explanation of why you have not been issued one. Your FTIN is the tax identification number issued by your country of residence and used for your local taxes and governmental benefits. It is not issued by the United States. An FTIN is not required if you live in one of the following countries: Australia, Japan, the British Virgin Islands, the Cayman Islands, or Bermuda.
• We will also need your date of birth.
• Do not provide a post office address (or PO box number) unless the address is in Kuwait, United Arab Emirates, or Saudi Arabia.
• Do not provide an address in care of a financial institution, employer, or another person.
• After successfully submitting the form online, you will be immediately prompted to log in to your account. If the submission was not successful, please allow 24 hours to resubmit your tax information.

If you prefer to complete the Form W-8BEN on paper, you'll need to send it back to Fidelity, not the US Internal Revenue Service. To ensure the form is processed correctly, remember to write your Fidelity participant number on the form. Sign the form and return it to Fidelity Stock Plan Services, PO Box 770001, Cincinnati, OH 45277-0002, USA.

Need help? Call a Fidelity Stock Plan Services Representative.

The FTIN (foreign tax identification number) is your local tax number issued by the government of your country of residence. For example, Social or National Insurance number, Identification Card number, PAN number.