Tipalti, provider of a global payments management platform, said it has fully integrated a Form W-8 collection solution into its platform.
Countless different Forms W-8 exist with many complex requirements and it can be overwhelming and time-consuming for payees to determine which form to use and how to complete them adequately.
The QI obtains the know-your-customer documentation specified in its QI agreement for such beneficiaries/owners (other than a Form W-8
, Instructions for the Requesters of Forms W-8BEN, W-8ECI, W8EXP, and W-8IMY); and
After 2000, foreign persons must use an appropriate Form W-8
To determine a payee's status, a withholding agent must rely (absent actual knowledge or reason to know otherwise) on Form W-9, Request for Taxpayer Identification Number and Certification, Form W-8
, Certificate of Foreign Status, or Form 8233, Exception From Withholding on Compensation for Independent (and Certain Dependent) Personal Services of a Nonresident Alien Individual, that the payee provides.