Wachovia - Non-U.S. Clients

NON-U.S. CLIENTS

A Form W-8BEN identifies Wachovia’s client as a Non-U.S. resident. This form may also allow the client to receive lower tax treaty benefits set between the U.S. and participating countries.

Part I – Identification of Beneficial Owner: Identifies the name, location, and type of beneficial owner.

Part II – Claim of Tax Treaty Benefits: For income tax purposes, if beneficial owner is a resident of a treaty country, the beneficial owner may be able to claim lower tax treaty rates.

Part III – Notional Principal Contracts: If applicable, this allows the beneficial owner to provide a statement identifying notional principal contracts for which income is not effectively connected.

Part IV – Certification: All beneficial owners must sign and date the form. For Non-U.S. clients other than foreign individuals, the signer must complete the Capacity in which acting line after the signature and date.

A Form W-8ECI identifies Wachovia’s client as a Non-U.S. resident from which the income is deemed effectively connected with the conduct of a trade or business in the United States. Typically, you must have a presence in the U.S. along with a tax identification number.

Part I – Identification of Beneficial Owner: Identifies the name, type of entity, permanent location, mailing addresses, tax identification number, and types of income identified as effectively connected income. A U.S. tax identification number on Line 6 must be provided.

Part II – Certification: All beneficial owners must sign and date the form. For Non-U.S. clients other than foreign individuals, the signer must complete the Capacity in which acting line after the signature and date.

A Form W-8EXP identifies Wachovia’s client as either a foreign government or other foreign organization.

Part I – Identification of Beneficial Owner: Identifies the name, type of entity, and permanent location of the foreign government or foreign organization.

Part II – Qualification Statement: Check the appropriate boxes to certify the type of entity indicated in Part I: foreign government, an international organization, a foreign central bank of issue, a foreign tax-exempt organization (Opinion Letter Required), or a government of a U.S. possession.

Part III – Certification: An authorized official of the foreign entity must sign and date the form. In addition, the signer must complete the Capacity in which acting line after the signature and date.

A Form W-8IMY identifies Wachovia’s client as a foreign intermediary, foreign flow-through entity, or, in some cases, U.S. Branches. The form indicates that Wachovia’s client is not the beneficial owner of the taxable payments.

Part I – Identification of Entity: Identifies the name, type of entity, permanent location of foreign intermediary, foreign flow-through entity, or U.S. Branches.

Part II – Qualified Intermediary: All Qualified Intermediaries (QI) must complete this section and a U.S. tax identification number must be provided on Line 6.

Part III – Non-Qualified Intermediary: All Non-Qualified Intermediaries (NQI) must complete this section. In addition, the NQI must provide the required documents and a withholding statement for each beneficial owner it represents.

Part IV – Certain United State Branches: All U.S. branches of a foreign bank or insurance company acting as an intermediary will complete this section. In addition, they may be required to provide Wachovia the required documents for each beneficial owner it represents and a withholding statement.

Part V – Withholding Foreign Partnership or Withholding Foreign Trust: Withholding Foreign Partnership or Withholding Foreign Trust must complete this section. In addition, a Withholding Statement and a U.S. tax identification number must be provided on Line 6.

Part VI – Nonwithholding Foreign Partnership, Simple Trust, or Grantor Trust: The nonwithholding foreign partnership, simple trust, or grantor trust must complete this section. In addition, the partnership or trust must provide the required documents and a withholding statement for each beneficial owner it represents.

Part VII – Certification: An authorized official of the foreign intermediary must sign and date the form.

Processing the IRS Tax Forms

Once Wachovia receives the IRS tax form, we will review the form for accuracy and completeness. When the form has been through Wachovia’s Due Diligence process, we may be required to obtain additional documentation based on the information provided on the original form. Then, Wachovia can implement the correct treaty or other special rates and conditions.

IRS Circular 230 Disclosure:
Wachovia Capital Markets, LLC and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with Wachovia Capital Markets, LLC of any of matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.