Posted by Poppy on 10/19/06 10:19pm
Msg #153788

TitleGal or anyone else in the know....

Why would US citizens be required to sign a Form W-8BEN?

Had a signing tonight and both borrowers had to sign a Form W-8BEN one borrower has only been a US citizen for the last few years the other borrower has always been a US citizen...

Just curious... Seemed odd... Thanks in advance the the input...

Have a great evening!

Reply by PAW on 10/19/06 10:41pm
Msg #153793

My guess is that the lender doesn't really understand the rules surrounding the use of a W-8BEN. (I admit that I don't fully understand them either.) The instructions on its use is very convoluted, in my opinion, which may lead to the confusion. However, there is one glaring statement that makes me wonder why there's a W-8BEN in a package along with a W-9. The statement, found in the instructions say: "Do not use Form W-8BEN if: You are a U.S. citizen (even if you reside outside the United States) or other U.S. person (including a resident alien individual). Instead, use Form W-9, Request for Taxpayer Identification Number and Certification."

Reply by Poppy on 10/19/06 10:47pm
Msg #153795

Thanks Paw! I feel better now. I thought I might be

missing something. There were no directions with the Form so I pulled the directions up on the IRS website when I got back. I noted the same thing you did.
I suppose I'll hear back from the siging service in the next couple of days to get a signed W-9

Thanks again...