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bc090048
Jul 29, 2009, 07:22 AM
I have inherited a traditional IRA from my brother - a US resident. I am however, a non resident. I have been asked to complete a W-8 BEN tax form and include an appropriate rate of taxation. I am unsure if I am liable for if any (not in my country of residence - I have got that confirmed) taxation. If I am liable, at what rate am I liable for?

Many thanks

BC

MukatA
Jul 30, 2009, 01:38 AM
There is no tax on inheritances. You inherited Trad IRA. Any withdrawal from IRA is ordinary income. Now it is your income.

You must complete Form W-8BEN and find out what will be tax rate as per tax treaty between the U.S. and your country.