It is necessary for us to have current information on our clients. Expired or out-of-date documents cannot be accepted. Please make sure all documentation you submit is legible, has not expired and all proof of address documentation is less than 12 months old. It is important that you promptly respond to our requests for documentation so that the correct withholding rate is applied to your account…

We cannot accept proof of address documentation that is more than 12 months old or which is not legible. Please verify that the proof of address document submitted, such as a bank or brokerage statement or a utility bill, is less than 12 months old. You should also confirm you submitted all required documentation. In certain cases, the documentation must be submitted from the country with which you claimed treaty benefits or tax residency to be acceptable. …

Overview:

Information relating to tax obligations is reported as required to the tax authorities within your country of residence as well as other countries if trading products subject to any local withholding requirements. Unless specifically directed by a taxing authority, we do not withhold taxes on proceeds from security sales. We are required by US tax law, for example, to withhold US taxes on dividends paid by US corporations to foreign persons at a rate of 30%. This rate may be lower if the US has entered into a tax treaty with your country. In addition, investment interest income is not subject to US withholding. All withholdings for non-US persons and most entities will be reported on Form 1042-S at the close of each year. For further information refer to IRS publication 901 and/or your tax advisor…

It is not uncommon for a client to have changes to their tax residency, which they have not informed us about, thereby resulting in out-of-date or inaccurate records. In these situations, the quickest and most effective way to remedy the situation is to provide the requested information so that our records are complete. You should also log into…

In certain cases, the IRS Form W-8 you submitted is insufficient to establish your status as a non-U.S. taxpayer. This often occurs when certain U.S. connections are found to be associated with your account (e.g., U.S. mailing or permanent address, U.S. telephone number, U.S. place of birth, citizenship or Green Card).  The presence of these U.S. connections requires us to collect additional documentation …

We will request additional documentation from existing clients if:

• Your account details show any U.S. connections (e.g., U.S. mailing or permanent address, U.S. telephone number, U.S. place of birth, citizenship or Green Card) or an address outside the country you identified on your IRS Form W-8 for purposes of claiming treaty benefits; or…

Treatment of foreign tax withheld as a foreign tax credit or as a deduction depends upon the tax situation of each shareholder. IRS Publication 514, “Foreign Tax Credit for Individuals” and the instructions for Schedule A “Itemized Deductions” and Form 1116 “Foreign Tax Credit” provide more specific guidance. We also recommend that you consult IRS Publication 514, “Foreign Tax Credit for Individuals”, for additional information on this subject. Please consult your tax professional for any additional information and determination of the appropriate treatment for your tax situation…

IRS Form W-8 is used to certify your status as a non-U.S. taxpayer. It is also used to claim reduced tax withholding on dividends and other income paid with respect to U.S. securities. Without proper documentation, brokers may be required to impose exceptional withholding tax on transactions occurring in the account and/or report the account as non-compliant to tax authorities. …

We will update and apply new tax treaty rates as they are effective. However, be aware that there is often a delay between the announcement of new tax treaties and the effective date for withholding changes by brokers. Until the effective date, we must continue to withhold at the existing statutory rate (or old treaty rate)…

Yes. Under current Korean tax rules, ownership thresholds, including a 25% threshold in certain circumstances, may give rise to additional Korean tax obligations. Clients should consult their own tax advisers regarding the application of these rules to their particular circumstances…

It is imperative you respond to the email request with appropriate documentation. Failure to do so may result in exceptional U.S. tax withholding being imposed on your account, reporting of your account to tax authorities and other remedial measures…