I am a Canadian resident and I recently bought two time share at summer bay las vegas. One before the acquisition of orange lake one after the acquisition. They are now asking me to sign W-8BEN for the second purchase. Is this standard practice? TS is in joint ownership, we are not planning on renting it and there is no disposition as of now. Why should I be filling out these IRS forms? Seem a bit premature? Any opinions?
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W-8BEN Certificate of foreign status of beneficial owner for United States tax withho
- Thread starter andex
- Start date
The form is only pertinent if they're going to be renting it for you - - if they have the form they're not required to withhold US tax on rental payments they send you.
If you already have an ITIN (the US taxpayer identification number for persons who don't have a US social security number) there should be no harm in giving them the form. If it means having to apply for an ITIN I'd try putting them off.
If you already have an ITIN (the US taxpayer identification number for persons who don't have a US social security number) there should be no harm in giving them the form. If it means having to apply for an ITIN I'd try putting them off.
Thanks for the response Conan.
So basically if I wanted them to rent the property for me this would avoid US withholding tax. FWIW it’s a point membership I have no intention of letting them renting it for me. Wonder what will happen if I don’t send it back to them?
So basically if I wanted them to rent the property for me this would avoid US withholding tax. FWIW it’s a point membership I have no intention of letting them renting it for me. Wonder what will happen if I don’t send it back to them?