Make sure tax withholdings on interest paid are correct
Federal law requires that a completed and signed, original Form W-8BEN (for foreign individuals) or Form W-8BEN-E (for foreign legal entities) be provided to us by each foreign customer to prevent tax withholding at a rate of 30% of any interest paid. Each foreign individual or foreign legal entity that is an owner on the account at First American Bank is required to file a separate Form W-8.
If you are no longer exempt from tax withholding due to a change in your foreign status, please complete, sign and return to us a Form W-9 (for U.S. persons, including resident aliens).
Please return the completed and signed Form W-8 or Form W-9 to:
First American Bank
P.O. Box 0794
Elk Grove Village, IL 60009-0794
- Form W-8BEN -- Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Foreign Individuals)
- IRS Instructions for Form W-8BEN
- Form W-8BEN-E -- Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Foreign Legal Entities)
- IRS Instructions for Form W-8BEN-E
- Form W-9 and Instructions -- Request for Taxpayer Identification Number and Certification
Note: The above is intended to convey general information only and is not intended to provide any legal or tax advice. If you require further assistance regarding your account, please contact us at (847) 952-3700 or visit your local First American Bank branch.