What happens if I fail to provide Franklin Templeton with the required certifications?
Federal tax law requires that every foreign person provide the certification required on Form W-8 to claim an exemption from withholding or a reduced rate of withholding under an income tax treaty. If the required certifications are not provided, Franklin Templeton, as withholding agent must apply backup withholding at the current 28% rate on all dividends, capital gain distributions, and gross proceeds on redemptions.
