What is foreign interest withholding?
If you do not reside in the United States (U.S.), and you do not have a U.S. Social Security Number, this office must withhold thirty percent (30%) of the interest payable on interest eligible refunds. Those funds are then to be turned over to the U.S. Internal Revenue Service, unless there is a tax treaty between the U.S. and your country of residence. To confirm your residency, and possibly qualify for a reduced withholding rate, you must complete and submit a W-8BEN form.
