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W-8imy instructions 2023 Form: What You Should Know

W-8BEN. Form. Certificate of Foreign Status. American Indian, Alaska Indian, Native Hawaiian. (a) In General. A person who is a United States citizen or resident alien, and has a Form W-8BEN issued by the Department of the Treasury is entitled to exclude from income a foreign source amount on his or her Form 1040 and Form 2063 if all the following are true: (1) The person is a citizen or resident of an applicable jurisdiction; (2) The person is a member of the same Native American tribe or Alaska Native village as the beneficial owner; and (3) The person meets certain other qualifications. (b) Exclusion From Income. If the person meets the other requirements, the person is entitled to exclude from income the amount of the foreign source interest that would otherwise be excluded under subsection (a). Definitions. For purposes of this subtitle, the term: (1) Beneficial owner—The term “beneficial owner” means a person who is listed as the sole or principal owner in the election under section 72(a)(9), (10), or (11) of the Foreign Account Tax Compliance Act. (2) Interest expense of foreign source. The term “interest expense of foreign source” means the interest expense, without regard to its source, that would be deductible under subsection (a) or (b) and excluded from income by an election under section 72(a)(9), (10), or (11) of the Act. (3) Payment of withholding tax— (A) In general. Except as provided in subparagraph (B), any payment of tax described under section 6511(a) shall be treated as a distribution described in section 6212 and the holder of the form 1091 shall be treated for the purposes of section 6210 as the beneficiary of that distribution. (B) Exception. A nonbusiness entity that makes a payment of tax described under section 6511(a) is not treated for purposes of subparagraph (A) as the beneficiary under section 6212. (4) Payment of withholding tax—United States resident alien.

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