FATCA - Which status

tim1234 · Post by **tim1234** » Wed Aug 19, 2015 12:26 pm

I have found Toronto Dominion bank with the FFI listing. I am filling out the W-8BEN-E form and section 4 requires to know the status of institution. I have it down to 1 in 4 possible. I called the bank and they said they could not provide this information. How would I go about find out?

nelsona · Post by **nelsona** » Wed Aug 19, 2015 2:14 pm

Why on earth would you be needing a W-8BEN-E? youare not an entity requiring this\. TD bank would be the one filing this form, not you.

tim1234 · Post by **tim1234** » Wed Aug 19, 2015 3:57 pm

Its sort of complicated, but I am the administrator of my mothers estate, which is considered an entity. Her estate is beneficiary to an Annuity held in america. I have spoken with the IRS a number of times and they have advised me on this. The estate was issued an EIN and Allstate normally requires a W-8BEN to be issued to the beneficiary, who would be an individual, but because it is an entity, a W-8BEN-E is required. I am really learning as I go. I contacted TD and they could not answer my question.

nelsona · Post by **nelsona** » Wed Aug 19, 2015 4:57 pm

Out of my paygrade, sorry.

My only question is that the W8-BEN-E is describes the estate as the beneficiary, and you are giving this to Allstate, wht is the involvement of TD? Are they recieving the proceeds from the annuity?

tim1234 · Post by **tim1234** » Wed Aug 19, 2015 5:44 pm

That was my deduction when i was told I had to fill out the W-8BEN-E again, but I have just tonight spoken with the claims handler. The notes that were being given to me, by the agents I spoke with, were internal notes on the claim meant for thier tax dept. I had correctly filled out the form to begin with. The section i needed to fill out was in respect to the Tax Treaty between Canada and America.

I don't actually have to fill anything out in respect to the financial institution on that form, but yes the funds will be sent to the Estate account with TD, which I opened several weeks prior.

Thanks for responding to the question, but I guess it all worked out. The funds are being distributed starting tomorrow.