W8-BEN and change of status

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Subject Author Date W8-BEN and change of status Elski 11-23-2008  Re: W8-BEN and change of status jmail7 11-24-2008  Re: W8-BEN and change of status Elski 11-24-2008  Re: W8-BEN and change of status jmail7 11-25-2008
Posted by Elski on November 23, 2008, 5:08 pm Please log in for more thread options Hello, I'm a UK citizen. From 2002-2007 I lived in the States (2002-2004 as a student and then worked from 2004-2007) When I first opened my US bank account as a student I filled in a W-8BEN. When I moved back home in 2007, I changed the address of my bank account to the UK and kept it open to pay bills, etc. I'm not earning any income from the US at all. I've been sent a new W-8BEN to complete - but my question is this - there is a part at the bottom which says "Affidavit of Unchanged Status" from 1/1/2005 until 12/31/08 (I guess b/c W-8's are valid for 3 years). My question is, can I sign it? I've not changed status in terms of changing from a non- resident to a resident, but I did leave the US (so I guess I'm not anything to the US). Does that matter? Many thanks for ANY help with this!! -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by jmail7 on November 24, 2008, 11:20 am Please log in for more thread options > I'm a UK citizen. From 2002-2007 I lived in the States (2002-2004 as a > student and then worked from 2004-2007) > > When I first opened my US bank account as a student I filled in a > W-8BEN. When I moved back home in 2007, I changed the address of my > bank account to the UK and kept it open to pay bills, etc. I'm not > earning any income from the US at all. I've been sent a new W-8BEN to > complete - but my question is this - there is a part at the bottom > which says "Affidavit of Unchanged Status" from 1/1/2005 until > 12/31/08 (I guess b/c W-8's are valid for 3 years). My question is, > can I sign it? I've not changed status in terms of changing from a non- > resident to a resident, but I did leave the US (so I guess I'm not > anything to the US). Does that matter? If you worked in the U.S. from 2004 to 2007, it is likely that you were a resident of the U.S. for tax purposes during this period. As soon as you changed from nonresident status to resident status you should have notified the bank of this change in status. The bank should have been reporting the interest earned on the account to the IRS on Form 1099 during this period. Now that you have moved back to the U.K. you are again a nonresident. If you were a resident during this period and are now a nonresident, you should not sign the affidavit. -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Elski on November 24, 2008, 2:02 pm Please log in for more thread options On Nov 24, 4:20 pm, jma...@andrewmitchel.com wrote: > > > I'm a UK citizen. From 2002-2007 I lived in the States (2002-2004 as a > > student and then worked from 2004-2007) > > > When I first opened my US bank account as a student I filled in a > > W-8BEN. When I moved back home in 2007, I changed the address of my > > bank account to the UK and kept it open to pay bills, etc. I'm not > > earning any income from the US at all. I've been sent a new W-8BEN to > > complete - but my question is this - there is a part at the bottom > > which says "Affidavit of Unchanged Status" from 1/1/2005 until > > 12/31/08 (I guess b/c W-8's are valid for 3 years). My question is, > > can I sign it? I've not changed status in terms of changing from a non- > > resident to a resident, but I did leave the US (so I guess I'm not > > anything to the US). Does that matter? > > If you worked in the U.S. from 2004 to 2007, it is likely that you > were a resident of the U.S. for tax purposes during this period. As > soon as you changed from nonresident status to resident status you > should have notified the bank of this change in status. The bank > should have been reporting the interest earned on the account to the > IRS on Form 1099 during this period. Now that you have moved back to > the U.K. you are again a nonresident. If you were a resident during > this period and are now a nonresident, you should not sign the > affidavit. Thanks for writing back - very helpful. 1 more question I forgot to write initially - there's a section called "supplement to the W-8BEN" (on the back) should I write here that I no longer live in the US and say when I left, or say anything else? The bank's instructions say that I should "provide a reasonable explanation supporting your claim of foreign status" in this section so I guess I have to write something. I did actually return to the UK to study, so I can provide proof of enrollment if necessary. Many, many thanks. -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Posted by jmail7 on November 25, 2008, 3:36 pm Please log in for more thread options > 1 more question I forgot to write initially - there's a section called > "supplement to the W-8BEN" (on the back) should I write here that I no > longer live in the US and say when I left, or say anything else? The > bank's instructions say that I should "provide a reasonable > explanation supporting your claim of foreign status" in this section > so I guess I have to write something. I did actually return to the UK > to study, so I can provide proof of enrollment if necessary. It is difficult to provide more information without seeing the full supplement. If you were indeed a U.S. tax resident from 2004 to 2007, you may want to call the bank to let them know this and ask them how to proceed. -- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2007) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted Filing Status Change & AMT avoidance March 10, 2007, 2:30 am LLC Change March 22, 2008, 7:35 pm Montana and change of Domicile November 9, 2007, 6:56 am Re: Montana and change of Domicile November 11, 2007, 4:25 am Re: Montana and change of Domicile November 12, 2007, 7:36 am Re: Montana and change of Domicile November 12, 2007, 7:36 am Re: Montana and change of Domicile November 14, 2007, 12:19 pm refusal to change incorrect W2 November 20, 2009, 4:47 pm Profit Sharing Change on Partnership February 4, 2009, 12:20 am Form 1040 mailing label change February 18, 2008, 7:09 pm