The Internal Revenue Service on November 20 published a new version of Form W-8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting, and the corresponding instructions. The modifications primarily reflect the finalized sections 897 and 1445 regulations exempting qualified foreign pension funds from withholding on dispositions of US real property interests. Unlike other Forms W-8, the finalized Form W‑8EXP permits use of the form both to indicate an entity is exempt from withholding under section 1445 and for other withholding exemption purposes.
The new Form W-8EXP includes a revision month of October 2023. As such, the new version of the Form W-8EXP is mandatory for use for forms signed on or after May 1, 2024.
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A new alert from Deloitte Tax LLP’s Global Information Reporting Group describes the notable changes in the updated form.
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