What is the purpose of a w8?

In a nutshell, a W 8 form is used by foreign businesses and non-resident aliens earning income from U.S. sources. Its purpose is mainly to let brokers and mutual fund companies know that the person or company in question is not subject to the usual tax withholding from investment income .24 Tem 2015

Give Form W-8 BEN to the withholding agent or payer if you are a foreign person and you are the beneficial owner of an amount subject to withholding . Submit Form W-8 BEN when requested by the withholding agent or payer whether or not you are claiming a reduced rate of, or exemption from, withholding.20 Eki 2021

Foreign persons must provide Form W-8BEN to the withholding agent or payer if they are the beneficial owner of the income subject to the tax withholding . You must submit the form regardless of whether you are claiming a reduced withholding.