W-8BEN — tax form for foreign investors
What is the W-8BEN form, who must file it and how it reduces US dividend tax from 30% to 15%.
What is W-8BEN?
W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting) is a form from the US Internal Revenue Service (IRS) that confirms you are a non-US tax resident. Thanks to it, you can benefit from a reduced tax rate on dividends paid by US companies.
Why is it important?
Without the W-8BEN form, your broker withholds 30% withholding tax from every US dividend. After filing the form, the rate drops to 15% — based on the double taxation treaty between Poland and the United States.
For a dividend portfolio worth 200,000 PLN with a 3% dividend yield, this is the difference between 1,800 PLN and 900 PLN in taxes annually.
Who should file W-8BEN?
Every Polish investor holding:
- US company shares paying dividends
- US ETFs (e.g., listed on NYSE/NASDAQ)
- Other instruments generating US income
You file the form with your broker — both Polish (Bossa, mBank) and foreign (Interactive Brokers, DEGIRO).
How to file W-8BEN?
- Log into your brokerage account
- Find the "tax documents" or "W-8BEN" section
- Fill in your data: name, surname, address, country of residence, PESEL or NIP number
- Sign electronically
- Done — your broker will apply the reduced rate
The entire process takes a few minutes and is done online.
Validity and renewal
The W-8BEN form is valid for 3 years from the signing date. After expiration, the broker returns to the 30% rate. Most brokers send renewal reminders — don't ignore them.
W-8BEN and IKE/IKZE
On IKE and IKZE accounts, the situation is complicated. Polish brokers managing IKE/IKZE usually cannot apply the reduced withholding tax rate in the US. Therefore, on retirement accounts, it's better to choose:
- UCITS ETFs based in Ireland (e.g., VWCE, IWDA) — the Irish fund itself benefits from the tax treaty with the US (15% instead of 30%)
- Accumulating ETFs — dividends reinvested within the fund, without a taxable event
Polish tax settlement
Tax withheld in the US (15%) is deducted from Polish dividend tax (19%). So you only pay an additional 4% in PIT-36 or PIT-38. This is the proportional deduction method.
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