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hi im jack from the global compliance institute and im here to assist you in understanding fatca and crs this video will explain the w8 bani faca form to factor responsible officers in foreign financial institutions worldwide there are three main topics that fat rose should clearly understand firstly the purpose of this form secondly who should fill it thirdly how to complete this form now lets go through the topics firstly what is the purpose of form wa benny w8 ban e is a certificate of status a beneficial owner for united states tax withholding and reporting for entities as discussed in our previous videos fatca w9 form can be completed by either individuals or entities while in the irs w8 forms there are two different forms one for individuals w8 ben and another one for entities w8 ben e the w8 band e is the form that fak ros should take from their corporate clients to document their u.s tax status foreign persons are subject to u.s tax at a 30 rate on withholdable payments whic
