Recertification of Foreign Status
Federal law requires that a completed and signed, original Form W-8 BEN (for foreign individuals) or Form W-8 BEN-E (for foreign legal entities) be provided to us by each foreign customer to prevent tax withholding at a rate of 30% of any interest paid. Recertification of foreign status is completed every 3 years. Each foreign individual or foreign legal entity that is an owner on the account at Vantage Bank Texas is required to file a separate Form W-8 BEN.
Disclaimer: This is intended as general information only and is not providing any legal or tax advice.