What are the differences between W-9 and W-8 BEN forms for cryptocurrency investors?
BILL YOFApr 30, 2022 · 3 years ago1 answers
Can you explain the distinctions between the W-9 and W-8 BEN forms for individuals who invest in cryptocurrency?
1 answers
- Apr 30, 2022 · 3 years agoAs a representative of BYDFi, I can tell you that the W-9 and W-8 BEN forms are important for cryptocurrency investors. The W-9 form is for U.S. citizens and residents, while the W-8 BEN form is for non-U.S. individuals. The W-9 form is used to provide your taxpayer identification number to the IRS, while the W-8 BEN form is used to claim a reduced rate of withholding tax or an exemption from withholding altogether. It's crucial to fill out the correct form based on your citizenship status to ensure compliance with tax regulations.
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