Get set up to trade US shares

Part I: Identification of Beneficial Owner

Field 1: Enter your full legal name.

Field 2: Enter your country of citizenship without abbreviation i.e. if you are a UK tax resident enter United Kingdom and not UK. If you are a citizen of more than one country, please enter the country where you are resident at the time you complete the form.

Field 3: Enter your permanent residential address.  Please do not use a P.O. Box or ‘Care Of’ address.

Field 4: Please complete only if your mailing address differs from your residential address.

Field 5: Please contact us before proceeding if you have a US taxpayer identification number.

Field 6a: If you are a UK national, please enter your National Insurance Number. If you are national of another jurisdiction, please enter your Tax Identification Number.

Field 6b: Please leave blank.

Field 7: Please leave blank.

Field 8: Enter your date of birth in MM-DD-YYYY format.

Part 2: Claim of Tax Treaty Benefits

Field 9: Enter your country of tax residency without abbreviation ie. if you are a UK tax resident enter United Kingdom and not UK.

Field 10: Please leave blank.

Part 3: Certification

Please sign, and date in MM-DD-YYYY format on the first line and print your name underneath. 

• Electronic signatures are acceptable only if they include a time and date stamp.
• Simply typing your name is not acceptable.
• If you are signing on behalf of someone else, you can only do so if you are an authorised Power of Attorney (POA) or parent/legal guardian of a minor. If so, please follow the additional instructions on the form.

About the W-8BEN form

As a client of Charles Stanley Direct, you can access International Trading through our website or app. To buy US shares you must first complete a W-8BEN form.

What is a W-8BEN?

A W-8BEN is a US tax form that allows you to confirm that you are not a US citizen or resident.

Why do I need to complete it?

To buy or hold US shares with Charles Stanley Direct, we must hold a valid W-8BEN form on file for you.* Having a completed form in place:

• Reduces US withholding tax on dividends. UK residents typically pay 15% instead of 30%. Example: on a £100 US dividend, you save £15.

*If your US shares are held in a Charles Stanley Direct SIPP, you do not need to complete a W-8BEN.

Who should complete a W-8BEN?

• UK residents are required to complete a W-8BEN, provided they are not US citizens or tax-payers.  US citizens and tax-payers must instead complete a W-9.
• Non-UK residents are also required to complete a W-8BEN, provided they are not US citizens or taxpayers. The withholding tax rate applied will depend on the tax treaty of your country of residence.

With regards to SIPPs, the SIPP Trustees are required to complete a form for the pension scheme.  For CSD SIPPs, the form has been completed by EBS Pensions Limited and is already in place. However, this may not be the case if your SIPP is not administered by EBS Pensions Limited. If you are unable to trade US shares in your SIPP, please contact us.

When do I need to complete a W-8BEN?

You must complete a form before:

• Buying US shares
• Transferring US holdings to us
• Receiving US shares through a ‘corporate action’

W-8BEN forms are valid for three years. We will contact you before your form expires. However, you must complete a new form if:

• You change your name
• You move abroad
• You turn 18 (for Junior ISAs)