What is a W8-BEN?


Superhero Team

July 15th 2021 3 minute read

A W8-BEN form is a document used by the U.S. Internal Revenue Service (IRS) to determine whether or not you are a foreigner for U.S. tax purposes.

For most Australians, what this means for you is that you will have 15% of any income or interest generated from your U.S. investments withheld. If you do not complete this form, the default U.S. withholding tax rate is 30%.

The IRS provides more about W8-BEN forms here.