Home > Account Opening Guide > What’s W-8BEN
Form W-8BEN is used by a foreign person to establish foreign taxpayer status and, if applicable, to claim a reduced rate of, or exemption from, withholding tax as resident in a country that has a tax treaty with the United States. Please refer to the Internal Revenue Service (IRS) website at www.irs.gov for more information.
Important Information:
  • Any account opening form must be accompanied by the W-8BEN form signed and dated within 90 days, otherwise the account application be deemed invalid.
  • For joint account, each account owner must complete a separate W-8BEN form.
  • Use a new W-8BEN form instead of making any correction on the form.
  • The signature on W-8BEN must be consistent with the signature on the account opening documents.
  • The residence (or mailing) address information on W-8BEN must be consistent with the account opening documents.
  • Scottrade (Hong Kong) will only accept the original copy of the W-8BEN.
  • Complete and return the original form to Scottrade (Hong Kong). Do not send to the IRS, otherwise the W-8BEN be deemed invalid.
  • W-8BEN form needs to update every three years after the account has been opened, otherwise the account will be placed under restrictions once it is past the due date.
  • Additional documentations are required if using a U.S. Mailing Address on the W-8BEN.
    1. >  A copy of valid passport or national ID card
    2. >  “U.S. Mailing Address Explanation Letter” (completed and signed within the last 90 days) and please     link the correct PDF (you can refer to download center to find the correct form)
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