Log in

View Full Version : W-8ben


Abhinav1088
Aug 21, 2013, 02:50 PM
Hi,

I am an F-1 student currently on OPT and I am working as an independent contractor. Recently my contracting agency sent me W-8BEN form to fill. I would like to know if this is the correct form for me? Also what exactly is this form for?

AtlantaTaxExpert
Aug 21, 2013, 09:05 PM
Yes, it IS the correct form. In your case, it is the form that tells the "employer" your correct name, address and SSN.

Abhinav1088
Aug 22, 2013, 10:10 AM
Thanks. Also does W-8BEN means that I would be losing 30% tax on my paycheck?

PS - I am from India.

AtlantaTaxExpert
Aug 22, 2013, 10:50 AM
No. As an independent contractor, they probably will withhold ZERO taxes from your pay, which can be a problem if you do not put money aside (about 20% of each paycheck should do) to pay the taxes when you file.

Abhinav1088
Aug 22, 2013, 11:04 AM
Thanks. And I need to fill 1040NR along with schedule-C till April next year right?

AtlantaTaxExpert
Aug 22, 2013, 11:50 AM
Yes, that is correct.

Abhinav1088
Sep 3, 2013, 03:57 PM
Hi,

Thanks for answering my previous queries.
I read that contractors need to pay taxes every quarter. Is this true? Also what's the difference between w-8ECI and w-8BEN?

AtlantaTaxExpert
Sep 3, 2013, 07:04 PM
Abhinav,

You CAN make quarterly payments, but in the FIRST year, you are NOT required to.