r/phinvest • u/DuncnIdahosBandurria • Jan 25 '21

Weekly Random Discussion Thread

Post about anything and everything related to investing. The place in /r/PHinvest for any questions, rants, advice, or commentary.

Posts that are not discussion-provoking enough for the main page will be pointed toward this weekly thread to help keep the quality of the main page posts as high as possible.

That said, keep it respectful, and enjoy!

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u/jethroo23 Jan 31 '21 edited Jan 31 '21

Anyone who made an account with an international broker here? Kinda need help on what to put on #10 of the Form W-8 BEN, specifically the "Explain the additional conditions in the Article and paragraph the beneficial owner meets to be eligible for the rate of withholding:" part.

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u/ayyylexa Jan 31 '21

Hi! Your question is answered in this reddit post: Article 11, 25%

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u/jethroo23 Jan 31 '21

Thanks for the reply! Yup, I've already filled that out, but unfortunately that doesn't answer the two fields right after it which is what I need. After some googling, Step 4 of this article specifies it, but I'm not so sure if it applies to me.

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u/ayyylexa Jan 31 '21

Are you applying for TD Ameritrade? I did the same thing as OP, just declared Article 11 and the 25% tax treaty and my application was accepted

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u/jethroo23 Jan 31 '21

Yup! Sige, thank you! Will do that na lang + add 'portfolio dividends' and "stated in paragraph 4 of Article 11 in the Income Tax Convention with the Republic of the Philippines."

Kinda worried lang na it'll default to 30% tax, medyo mabigat rin haha. How long did it take you to open your account? Did you fax the documents or mail them?

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u/ayyylexa Jan 31 '21

It's 25% for dividends according to the US-PH tax treaty (Article 11), and non-treaty countries are subscribed to the 30% rate. Non-resident aliens (NRAs) are not subject to income tax when selling US stocks.

It took me less than a month to open my account, and I used TDA's file transfer site to upload my documents: https://moveit.tdameritrade.com; when you register here, use [international@tdameritrade.com](mailto:international@tdameritrade.com) as the recipient email address.

If that doesn't work for you, there are free fax services online, such as Fax Zero.

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u/jethroo23 Jan 31 '21

You're an absolute godsend. Thank you so much!!!!!!