Carnival shares, transfer to NYSE - complications?

kermchem

On the p&o board on cruisecritic.com it is reported

Equinity have advised that you don’t have to fill in a W-8BEN form as Carnival is domiciled in Bermuda so outside of US tax regulations.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82012932#Comment_82012932

Some brokers insist on W-8BEN forms if you own/want to buy US listed shares but ultimately it won't matter.

Shimrod

https://forums.moneysavingexpert.com/discussion/comment/82012994#Comment_82012994

According to Barclays, while I don't need it, there's a potential tax saving in completing the form

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82013162#Comment_82013162

Yeah, this is why you need to be careful listening to the likes of Equniti.

The W8-BEN is easy and free to complete so there’s no reason not to and have that base covered. The last thing you ever want is to try to deal with the IRS to reclaim the overpaid tax or pay more tax than you have to.

kermchem

I will stick with my accidental purchase of Carnival shares inside my SIPP rather than my ISA (it was just where the cash was at the time), and note that a W8-BEN form is apparently not required within a SIPP. See https://www.ajbell.co.uk/investment/international

kempiejon

I believe one needs a W-8BEN to get the best tax rates and to buy more shares but can sell without. I hold US shares in ISA and SIPP but have made the decision not to share my details with US Internal Revenue Service

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82013280#Comment_82013280

As per the UK/USA double taxation treaty pensions are exempt from US withholding tax on dividends so this makes sense.

HarryIb

Just got confirmation from Interactive Investor that the Carnival shares benefits, which can be managed by Stock Perks, are unaffected by the recent changes and no action is necessary on the part of the shareholder.