Form W-8IMY is used by foreign entities to establish their status as an intermediary receiving U.S.-sourced income on behalf of another person or entity.
Select our fillable Form W-8IMY, open it in our PDF editor, and fill it out with relevant information. You can easily download it to your device when you’re done and submit it to the withholding agent or payer.
Form W-8IMY is used by foreign entities to establish their status as an intermediary receiving U.S.-sourced income on behalf of another person or entity.
Select our fillable Form W-8IMY, open it in our PDF editor, and fill it out with relevant information. You can easily download it to your device when you’re done and submit it to the withholding agent or payer.
Step 1: Open Form W-8IMY in our PDF editor.
Step 2: Complete Part I with the entity’s information and status.
Step 3: Select all claims that apply in Chapters 3 and 4, according to the Form W-8IMY instructions.
Step 4: Review the document and sign the certification statement.
Step 5: Submit the form to the withholding agent or payer who requested it.
The W-8IMY Form is used to certify a foreign entity’s status as an intermediary receiving U.S. income on someone else’s behalf. Essentially, its purpose is to pass relevant information to the payer or withholding agent.
Foreign intermediaries, foreign flow-through entities, and certain U.S. branches that receive income on behalf of other people should fill out Form W-8IMY. These entities are not beneficiaries themselves; instead, they pass the income to the actual owners.
There is no specific due date for Form W-8IMY; instead, it should be filed before income is paid, credited, or allocated to your account. Essentially, the deadline is set by the withholding agent requesting it.
The primary consequence of not submitting Form W-8IMY is that a flat 30% tax withholding rate on U.S. payments will be applied automatically, even if the beneficiary is eligible for a reduced tax rate. As a result, the beneficiary’s tax liability increases, and the withholding agent may be penalized if they withhold a reduced amount without this form.
You should file Form W-8IMY with the withholding agent who requests it, not the IRS. If you receive payments from several different agents, each one must receive a separate form.
Form W-8IMY is valid indefinitely, or until the status of the person whose name is on the document is changed in a relevant way. In such a case, you should get a new blank Form W-8IMY and fill it out again.
You likely can submit Form W-8IMY electronically instead of on paper, but the specifics depend on the withholding agent; if they only accept paper forms, you won’t be able to e-file.
If your Form W-8IMY is missing information, it may be considered invalid, and you may be required to submit a new form with all details in place. To avoid issues and potential consequences, cross-check your document with a Form W-8IMY example before submission.
You can fill out your Form W-8IMY online by opening it in our PDF editor and typing information directly into the empty slots. Afterward, you can download and print it or submit it electronically.
This form is free to view and edit, but you can only download it if you’re a paying subscriber. Take a look at our pricing page for more details.
Yes, you can correct mistakes on Form W-8IMY, and you should do so by contacting the withholding agent and informing them of your mistake. If you want to correct the form because certain information has changed, you must submit a new document within 30 days of the change.
If you forgot to file Form W-8IMY, a flat tax rate of 30% will apply to all U.S. payments made to the beneficiary automatically. Thus, you should submit the form as soon as possible.
The difference between W-8BEN and W-8IMY is that the former is used by the beneficiary of the U.S.-based income, while the latter is filed by the intermediary who receives the income on their behalf. Other than that, these two forms have very similar purposes.