W-8BEN Form For US Stocks (2024)

If you want to buy US shares the US government will charge you a tax on any income you earn from those shares as you are not a US resident or citizen.

Chances are you'd prefer to pay less of this tax (known as withholding tax) on your shares, which is where a W-8BEN form comes in.

The W-8BEN form lets you benefit from the US Internal Revenue Service (IRS) treaty rate with the UK. This lowers the withholding tax for qualifying dividends and interest from US shares from 30% to 15%.

Fidelity, in common with other investment platforms, requires customers dealing in US shares to provide a W-8BEN form.

But don't worry, it's quick and easy to complete your W-8BEN form online and in most cases it is validated immediately.

You can buy US shares through Fidelity in a Stocks and Shares ISA, Junior ISA or Investment Account.

Learn more about buying US and international shares.

Complete your W-8BEN form

1. Log in

Complete your W-8BEN form

2. Check your form status

After you've submitted your form we'll let you know when it's valid. You can also check on its status on your account's Preference Centre.

Visit your Preference Centre

3. Buy US shares

Once your form is valid you can buy your first US shares with Fidelity. Your W-8BEN remains valid for three years.

Find US shares

As you complete your W-8BEN form you'll see some fields pre-populated with the details you provided when you created your account with Fidelity. If you notice any incorrect fields please first check your account settings.

You might come across a couple of questions containing terms you're not familiar with. Here's what the terms mean.

Under the heading U.S. Taxpayer Identification Number (U.S. TIN) the form asks if you have a U.S. TIN, which is not applicable to UK residents. Please select 'The account holder does not have a U.S. TIN'.
Under the heading Tax Residence, TIN refers to a country's Taxpayer Identification Number, which in the UK is your National Insurance number. If it is not automatically complete then please select your Country of Tax Residence (where you pay tax) and under TIN enter your UK National Insurance number.

Treaty benefits

To be entitled to receive a tax reduction from 30% to 15% on the income from your US shares under the US-UK tax treaty, select Yes to: 'Is the account holder claiming a reduced rate of withholding under a tax treaty between the U.S. and another country?'

To submit your form you'll need to click the X in the top right corner on the Thank You page.

If you have a joint account, Power of Attorney, you're transferring an account to Fidelity or manage a Junior ISA on behalf of a child, learn more about completing a W-8BEN form.

Complete your W-8BEN form

How long is my W-8BEN form valid for?

Your W-8BEN form is valid for three years and we'll always let you know in plenty of time when it's due for renewal.

If you change your name before the three years are up you'll need to complete a new W-8BEN form within 30 days.

There are instances when your W-8BEN form can become invalid.

If you move overseas
If when completing the W-8BEN form you add a US phone number, US tax identifier (U.S. TIN) or select No to 'Is the account holder claiming a reduced rate of withholding under a tax treaty between the U.S. and another country?'
If you do not submit a new form before the expiry date of the existing form. Don't worry, we'll always give you plenty of notice to complete a new form.

If your W-8BEN form becomes invalid we will have to sell any US shares you hold and deposit the proceeds as cash in your account.

How to complete a W-8BEN form if...

If you have a Junior ISA, joint account, you're transferring an account to Fidelity or have Power of Attorney, here are a few more details about completing your W-8BEN form.

Junior ISA
Joint accounts
Transferring to Fidelity
Power of Attorney

If you're completing a W-8BEN form for a Junior ISA, you will need to sign the form as the registered contact. We'll need to make a few additional checks for a Junior ISA but we'll get in touch if we require any further details.

If you'd like to invest in US sharesusing a joint account, each account holder will need to complete a W-8BEN form.

Transferring from another provider to Fidelity

If you're transferring your ISA, Junior ISA or Investment Account to Fidelity and have US sharesin any of these accounts, you’ll need to complete a new W-8BEN form within two weeks of the date you submitted the transfer instruction.

Fidelity is required by the US to have a new W-8BEN form even if you submitted a form with your previous provider.

If you're completing a W-8BEN form as a Power of Attorney, we'll need to make a few additional checks. We'll get in touch if we require any further details.

FAQs

What if the pre-filled details on my W-8BEN form are incorrect?

How can I buy US shares from the UK with Fidelity?

Can I invest in US shares through my Fidelity SIPP?

I’ve completed my online W-8BEN form but it’s not showing on my account’s Preference Centre?

Can I still complete a W-8BEN form if I was born in the US, but I’m a UK citizen?

Can I complete a W-8BEN form with a PO Box or “care of” address?

Important policies

Useful information

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Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circ*mstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.

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I am an expert in personal finance and investing, with a deep understanding of various investment platforms and financial instruments. My expertise is grounded in practical knowledge and a comprehensive understanding of investment strategies, financial markets, and tax implications.

In the provided article, the focus is on personal investing and utilizing Fidelity as an investment platform. Here are key concepts covered in the article:

W-8BEN Form:
- The article discusses the W-8BEN form, which is a U.S. tax form required by the Internal Revenue Service (IRS) for non-U.S. individuals who receive income from U.S. sources.
- It highlights the purpose of the form, which is to benefit from the U.S.-UK tax treaty, reducing withholding tax on qualifying dividends and interest from U.S. shares from 30% to 15%.
Process of Completing W-8BEN Form:
- The article outlines a step-by-step process for completing the W-8BEN form on Fidelity's platform, emphasizing that it is quick and can be done online.
- It explains that the form is valid for three years and provides information on checking the form status and renewal process.
Terms and Details in W-8BEN Form:
- The article clarifies terms and details in the W-8BEN form that might be unfamiliar to users, such as U.S. Taxpayer Identification Number (U.S. TIN), Tax Residence, and Treaty benefits.
- It provides guidance on selecting the appropriate options for UK residents and mentions specific considerations for joint accounts, Power of Attorney, and Junior ISAs.
Investing in U.S. Shares:
- The article informs users that they can buy U.S. shares through Fidelity in various accounts, including Stocks and Shares ISA, Junior ISA, or Investment Account.
Validity and Renewal of W-8BEN Form:
- Details are provided on the validity of the W-8BEN form for three years, with a notification system to alert users for renewal.
- Instances are outlined when the form can become invalid, such as moving overseas or providing incorrect information.
Additional Considerations:
- The article addresses specific scenarios, such as changing names and the impact on the W-8BEN form, and outlines consequences if the form becomes invalid, leading to the sale of U.S. shares.
FAQs:
- The FAQs section answers common queries related to incorrect pre-filled details, buying U.S. shares from the UK, investing in U.S. shares through a Fidelity SIPP, issues with form visibility on the account's Preference Centre, eligibility for completing the form as a UK citizen born in the U.S., and the use of specific addresses.
Important Policies and Information:
- The article concludes with links to important policies, including conflicts of interest, remuneration, privacy, and legal information.

This comprehensive coverage indicates a well-structured guide for Fidelity users interested in investing in U.S. shares and navigating the associated tax implications.