W8BEN or W9 clarification

rentappt · Post by **rentappt** » Fri Feb 03, 2017 1:30 pm

Hi all,
Need a quick advise,
Two weeks back moved to US on TN visa and my family and my family and house in Canada. Family will not move to US in 2017.
I am updating my address for Canadian bank accounts and currently opening US bank account and they are asking me to fill WBEN or W9 form.
I am planning to file 1040NR for 2017 based on my ties, family and house in Canada, since I still have to consolidate my TFSA and RESP accounts this year and just want to keep tax filing simple for 2017.
My question is which form should I fill W8BEN or W9, since I am planning to do 1040NR for 2017 should I fill W8BEN and update with W9 for 2018 year. I am asking this because for tax purpose I am considering myself NRA for 2017 and for NRA it says file W8BEN is that correct or is it fine I submit W9 form and still file 1040NR. I do have my SSN now, also please confirm that same form I need to fill for both US bank acct and Canadian bank accounts.
Please respond.

nelsona · Post by **nelsona** » Fri Feb 03, 2017 2:05 pm

W8-BEN

rentappt · Post by **rentappt** » Fri Feb 03, 2017 2:17 pm

Thanks Nelsona for the quick response, when filling WBEN form item 3 is asking for permanent address do I need to give US address or Canada address and also mailing address.
item 9..I certify that the beneficial owner is resident of ......this should be Canada or US
item 10 mentions special rates and conditions do I need to fill this section with article of treaty and % rate of withholding

Please advise

rentappt · Post by **rentappt** » Fri Feb 03, 2017 2:17 pm

Thanks Nelsona for the quick response, when filling WBEN form item 3 is asking for permanent address do I need to give US address or Canada address and also mailing address.
item 9..I certify that the beneficial owner is resident of ......this should be Canada or US
item 10 mentions special rates and conditions do I need to fill this section with article of treaty and % rate of withholding

Please advise

nelsona · Post by **nelsona** » Fri Feb 03, 2017 4:38 pm

Since you claim that you will be living in Canada, then Cdn address. The real question is if you -- again -- claim you will be living in Canada, why would your bank have had any reason to be asking about US identification?

The rates issue is for US banks and financials. You won't be claiming any special rates, sicne it is a Cdn bank with a Cdn customer: they already know what to do with that.

rentappt · Post by **rentappt** » Fri Feb 03, 2017 5:27 pm

I requested my Canadian bank to update my account to US address since I will be here 2-3 years and family might stay back in Canada and my bank asked me to fill W9 or W8BEN form with a letter stating when I moved , passport details and whether I am considered Non resident.
So based on your response I am filling W8BEN form and in that form is asking permanent address if I keep Canadian address, I wonder purpose is to update my address to US address and W8BEN doesn't have my US address is that correct.

Also in the letter should I state as Canada resident for tax purpose.