Alternatives to foreign vendors filling out Form W-8BEN?

March 10, 2023
March 10, 2023


Q. Background: My organization has had several foreign tour leaders for a decade, and they never were asked to submit W-8BEN. Recently we requested the form upfront before processing the payment. The challenge is that most foreign vendors are unhappy and cannot read the English tax form. I wonder what the penalty is if we do not collect the W-8BEN. Is there any other option rather than filling out the tax form? A. (Answered by IOFM's third-party tax experts) If you're not able to obtain a…

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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
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