Form W-8BEN-E Instructions Leave Questions for Withholding Agents

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Practitioners took differing views on long-awaited final instructions on Form W-8BEN-E, saying while the guidance is welcome, the task of implementing the Foreign Account Tax Compliance Act remains complex and withholding agents still need answers.

“The good news is that stuff is starting to come out,” Deborah Pflieger, EY LLP's FATCA lead and principal for tax information reporting and withholding services, told Bloomberg BNA June 25. “The bad news is there's a lot of information to digest.”
The instructions, issued June 25, provide guidance on how foreign entities should document their status under FATCA. On June 24, the Internal Revenue Service released final instructions on Form 8966, FATCA Report.