The United States Internal Revenue Service (IRS) requires that Form W-8BEN be completed and signed by all foreign account holders to certify their non-American status. Each named holder in an account is required to file a separate form. If you fail to provide a complete and valid W-8BEN, the Bank is obligated to withhold taxes at a rate of 30% on any interest paid.
When you opened your account at Biscayne Bank, Form W-8BEN (Certificate of Foreign Status of Beneficial Owner) was completed and signed by you since you were not able to provide us with a tax identification number.
For your convenience, we have prepared a set of documents covering the completion of the Form W-8BEN including filled samples. We have also posted the original instructions issued by the Internal Revenue Service (IRS). Below, you will find the documents you need to comply with the above mentioned requirements.
Please send your updated W8 Form to the following address:
2601 South Bayshore Drive, Suite 600
Attention: W8 Forms Department
Coconut Grove, Florida 33133
Or Email: firstname.lastname@example.org
For further inquiry please contact us at (305) 447-5050