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    brlcc's Avatar
    brlcc Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 12, 2010, 04:06 AM
    W-8BEN Form Records Missing from IRS
    Hi M/S,
    Really need some kind help here, at a loss here. Recently I sold my shares to a company whom is doing aqcuisition, when I was going to receive my proceeds. I was told by the agent that IRS withhold my money as they do not have records of me filing W-8 BEN at the point of time when I bought the restricted stocks from a broker. Is this true as I am worried that this might be a scam? Or can I resubmitted the form again to prove that? By the way, I am a non US citizen. Thank you very much.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Nov 12, 2010, 11:37 AM
    The Form W-8BEN is NOT submitted to the IRS; it is sent to the broker or company who retains it on file to show the IRS why they are withholding at less than the legally mandated 30% withholding rate.

    If the money has already been withheld, then re-submitting the form is a waste of time to recover that money. You would need to file a tax return (Form 1040NR with Form 8833) to recover the withheld money.

    I can help with this process professionally. Email me at [email protected].
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Nov 12, 2010, 08:45 PM

    Even if you are not a U.S. citizen but you live in U.S. or are resident of U.S. your income from sale of shares is taxable.
    For nonresidents this income is not taxable.
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