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  • FIRST POST
    • m1ck3tt5
    • By m1ck3tt5 17th Apr 18, 2:52 PM
    • 1Posts
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    m1ck3tt5
    Inheritance from the USA
    • #1
    • 17th Apr 18, 2:52 PM
    Inheritance from the USA 17th Apr 18 at 2:52 PM
    Hi,
    I have inherited an IRA (Individual Retirement Plan) from a relative in the US which will pay a lump sum to me as a beneficiary. I am attempting to understand the US Tax rules and regulations and whilst I believe I am almost there with the form and I'm aware that I need to complete W-8BEN, it is asking for a ITIN (Individual Taxpayer Identification Number). If I'm correct, if I don't submit the W-8BEN with this number then I will be subject to a 30% tax with-holding of the monies. However, from investigations, the UK are part of a Treaty with the US whereby 0% tax is payable. So,what I'm asking is a) has anyone inherited monies from the US? b) Submitted a W-8BEN? c) Submitted the form without a ITIN? d) Or d) Requested a ITIN? From my research to obtain a ITIN I would need to send my original passport to the US for validation which is something I am not prepared to do as may not have this returned for many weeks. Any help or advice would be gratefully received, please.
Page 1
    • getmore4less
    • By getmore4less 17th Apr 18, 3:36 PM
    • 33,078 Posts
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    getmore4less
    • #2
    • 17th Apr 18, 3:36 PM
    • #2
    • 17th Apr 18, 3:36 PM
    IIRC last one I filled in for share stuff I used my NINO(National insurance No.)
    • AnotherJoe
    • By AnotherJoe 23rd Apr 18, 10:47 AM
    • 10,634 Posts
    • 12,191 Thanks
    AnotherJoe
    • #3
    • 23rd Apr 18, 10:47 AM
    • #3
    • 23rd Apr 18, 10:47 AM
    IIRC last one I filled in for share stuff I used my NINO(National insurance No.)
    Originally posted by getmore4less
    I've always left mine blank.
    With shares, the W8-BEN is all about dividend payments not the actual amounts. SO i can get all the money out its just the dividends i lose 30% of. Hopefully that is the case for the OP.
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