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    mcfie's Avatar
    mcfie Posts: 2, Reputation: 1
    New Member
    		  
    #1

    May 28, 2012, 01:30 PM
    Forgot to complete my W-8BEN
    Hi

    Hoping someone can help me as I can't get through to anyone in the states today! I am uk based, and have shares held in the USA. I forgot to renew my W-8BEN form and 28% has been withheld from my dividend. Does anyone know if it is possible to claim this back from the IRS, given I do not submit a tax form?

    Many thanks in advance for your help!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    May 28, 2012, 01:42 PM
    IRS Pub 901 specifies that dividends will be taxed at 15% and qualified dividends will be taxed at 5%, so you can file a tax return (Form 1040NR) to claim a refund of the difference.

    The difference has to be enough to justify filing the Form 1040NR.
    mcfie's Avatar
    mcfie Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Aug 6, 2012, 01:36 PM
    Many thanks AtlantaTaxExpert! I thought that the dividend was taxable here in the UK, therefore all 28% was due for refund in US. Any ideas? Thanks!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Aug 6, 2012, 03:10 PM
    You STILL have to file the tax return, and claim the FOREIGN TAX CREDIT for the U.K. taxes paid.
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