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Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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Canadian must complete a w-8 ben or is is w9 JA: The Accountant

Customer Question

canadian must complete a w-8 ben or is is w9
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: Canadian must file taxes for corporations with revenue Canada and complete a W-8 ben form or has the form changed?
JA: Is there anything else the Accountant should be aware of?
Customer: no just asking what canadians has to file in terms of taxes for corporations set up outside canada a
nd the USA
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Submitted: 5 months ago.
Category: Tax
Expert:  Lev replied 5 months ago.
W9 form is ONLY for US citizens or US residents.If that Canadian trust is a pass through entity and the settlor is either US citizen or US resident - then use form W9.If however the settlor is a non resident alien OR the Canadian trust is NOT a pass through entity - then use W8 form.
Expert:  Lev replied 5 months ago.
The issue is that form W9 or W8 is signed by a Beneficial Owner.If that is a single member LLC - that is Disregarded Entity. A business entity that has a single owner and is not a corporation under Treasury Regulations section(###) ###-####2(b) is disregarded as an entity separate from its owner.In simple words - Disregarded - means - ignored - and the owner of the LLC is considered as a Beneficial Owner.For payments other than those for which a reduced rate of withholding is claimed under an income tax treaty, the beneficial owner of income is, generally, the person who is required under U.S. tax principles to include the income in gross income on a tax return..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.