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Form W-8BEN-E for Syracuse New York: What You Should Know
FATWA Targets Non-Compliance by U.S. Taxpayers with Foreign Accounts | New York Times FATWA Targets Non-Compliance by U.S. Taxpayers with Foreign Accounts | Washington Post Sep 29, 2025 — The IRS on Friday released a draft of a form, Form W-8BEN-E (Certificate of Status of Beneficial Owner for United States Tax Withholding), for reporting foreign account holders. As the tax law has not yet changed since FATWA was first enacted in 2010, this provision in FATWA requires that if individuals in a given country do not know or have no reason to know they are in violation of that country's tax laws, the U.S. government has no obligation to assist them. Form W-8BEN-E [PDF] gives holders of foreign financial accounts the opportunity to prove compliance with U.S. tax withholding, filing and reporting requirements, without disclosing where to find the forms, form W-8I and form W-8R. However, the law will not require banks and other custodians to provide information. So it is very important to keep and use Form W-8 BEN-E (not form W-8R) during the reporting period, because it will be the only document that must be shown along with your tax return, Form 1040. What can you expect from form W-8 BEN-E? If Form W-8 BEN-E is filed, the IRS will require each entity to issue quarterly reports to the United States. This information is needed for a variety of purposes, including determining whether there are any U.S. tax liens on the foreign entity and its assets. The IRS will require the information described in the following paragraph: If a beneficial owner is required to report or file quarterly reports and the name, address and/or other information necessary for the collection of taxes due from the beneficial owner is not shown on such reports, you must file a report within 30 days after the third calendar quarter of the third tax year following the month in which there is a deficiency due to the absence of a valid Form W-8BEN-E, Certificate of Status of Beneficial Owner for United States Tax Withholding. To obtain copies of the reports required by the IRS, contact the U.S.
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