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Youinvest W8-BEN renewal

How does renewal work? Do Youinvest send an email or secure message nearing the end of 3 years? Must the whole form be completed and physically sent as before can it be confirmed online if details haven't changed since previous?

Comments

  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Post of the Month
    From a regulation point of view it should be re-signed and dated (rather than just being 'confirmed'), as it stops being valid at the end of the third calendar year after signing and dating it (so you will get 3 years and X months before it becomes invalid depending when you signed it).

    Different providers do it in different ways - and 'signing' can include 'type-signing' your name when logged into an online account, on the provider's own substitute W-8BEN form if the provider has created one with all the right attestations to support that. 

    To be honest I can't remember how Youinvest dealt with a renewal last time. They may not need it if the account is only a SIPP, because they are the trustee of the SIPP themselves, and they know the beneficiary hasn't changed and the nature of the SIPP hasn't changed. For other types of accounts it's feasible that they won't remind you until after the current one expires on 31 December one year while they are holding US stocks for you and they realise they no longer have a valid form.

    If you know your form has expired (and you haven't been chased up because you don't currently hold any US stocks, but you know you plan to in the future), then just send them a secure message and ask what to do...
  • george4064
    george4064 Posts: 2,902 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Out of interest, how do you know if your W8-Ben form is nearly up for renewal? On my AJBell Account I cant see any mention of it in ‘My Account’ other than the complex instrument appropriateness test..
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2025 - #024 £1,450 / £15,000 (9%)
  • hoc
    hoc Posts: 584 Forumite
    Ninth Anniversary 500 Posts Name Dropper Photogenic
    There isn't any indication in the user profile on when it was completed or when it will expire
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