[9700]
February 20, 1998
TO: TAX MEMBERS No. 8-98
OPERATIONS MEMBERS No. 6-98
TRANSFER AGENT ADVISORY COMMITTEE No. 9-98
RE: IRS RELEASES DRAFT FORM W-8 WITHHOLDING CERTIFICATE
______________________________________________________________________________
The Internal Revenue Service has released in draft form for public comment proposed new
withholding certificates for foreign investors (IRS Announcement 98-15, attached). Specifically, IRS has
released proposed new Forms W-8 (Certificate of Foreign Status of Beneficial Owner for United States
Tax Withholding), W-8A (Foreign Person’s Claim of Income Effectively Connected With the Conduct
of a Trade of Business in the United States), W-8B (Certification for United States Tax Withholding for
Foreign Governments and Other Foreign Organizations) and W-8C (Certificate of Intermediary for
United States Tax Withholding).
The proposed new Form W-8 would be used by fund shareholders to establish foreign status, to
establish beneficial ownership and, if applicable, to claim reduced withholding rate benefits provided by
treaty. Among other things, the new form provides six separate treaty benefit certifications that may be
made, including that the payee is a resident of a particular country for treaty purposes.
IRS has asked that all comments on the proposed draft forms be received by April 8, 1998.
Please contact the undersigned (at 202-326-5832) by March 16 if you have any comments that you would
like included in an Institute comment letter on these forms.
Keith D. Lawson
Associate Counsel
Attachment
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