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?

Yes, it IS the correct form. In your case, it is the form that tells the "employer" your correct name, address and SSN.

Thanks. Also does W-8BEN means that I would be losing 30% tax on my paycheck?

PS - I am from India.

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.

Thanks. And I need to fill 1040NR along with schedule-C till April next year right?

Yes, that is correct.

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?

Abhinav,

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