What is a W-8BEN form and why do I need one?
As per regulatory requirements set by the Internal Revenue Service (IRS), a W-8BEN form is a mandatory form to complete to be able to trade US shares. Provided you aren’t a US taxpayer, this allows us to ensure you receive reduced withholding tax rates on dividends. The required form and steps differ for each account type and citizenship as shown below:
Individual account holders (UK residents)
If you’re not a corporate client, joint account holder, a US citizen or resident of the US, you can simply complete your W-8BEN form online as follows:
- Using a desktop or mobile device, go to IG.com and log in to My IG
- Click on the ‘settings’ tab on dektop or the ‘menu’ button on mobile
- Select ‘dealing US stock (W-8BEN)’
- Complete the online form
- Once completed successfully, your form status will change accordingly
Desktop:
Mobile:
Joint account holders (UK residents)
In order to trade US stocks, each account holder needs to submit a physically signed W-8BEN form. Both account holders need to be primarily tax residents in the same country for the account to receive that country’s treaty rate of withholding tax on income.
Kindly print out, sign, and return a scanned copy to newaccounts.uk@ig.com for processing. Please note electronic signatures are not accepted.
For more information or assistance with filling out the form, you can visit the IRS’s website:
Corporate account holders (UK entities)
In order to trade US stocks using a corporate account, a W-8BEN E form is required.
Kindly print out, sign, and return a scanned copy to newaccounts.uk@ig.com for processing. Please note electronic signatures are not accepted.
For more information or assistance with filling out the form, you can visit the IRS’s website:
For US citizens
In order to trade US stocks, a US citizen is required to complete a W-9 form. Note, IG only allows US citizens to buy US-incorporated stock as a CFD or spread bet. We cannot offer US-incorporated stock to US citizens via share dealing accounts.
Kindly print out, sign, and return a scanned copy to newaccounts.uk@ig.com for processing. Please note electronic signatures are not accepted.
For more information or assistance with filling out the form, you can visit the IRS’s website:
https://www.irs.gov/forms-instructions
