A W-8BEN form, officially known as the "Certificate of Foreign Status of Beneficial Owner for US Tax Withholding and Reporting," is a requisite submission for foreign individuals who receive income in the United States.
This form becomes necessary when income payments are to be made for services executed by a Nonresident Alien (NRA) that occur outside the United States.
It stands as an IRS-mandated document designed to gather essential NRA taxpayer information, enabling individuals to establish and document their tax status for reporting purposes.
Upon establishing your US Stock Trading account with Plum, we facilitate the automatic submission of a W-8BEN form on your behalf.
Once the form is submitted, it remains valid for a duration of 3 full calendar years.