Skip to main content
  • IBC Bank Certification Status

Certification Status

According to U.S. Internal Revenue Service regulations, foreign individuals and entities must provide certification of foreign status every three years. The certification requires completing Form W-8BEN (Certificate of Foreign Status of Beneficial Owner) for foreign individuals or Form W-8BEN-E for Entities and providing the bank a properly executed copy of that document. Accounts that are not properly certified are subject to U.S. withholding tax of 30% on the interest income received.
Forms W-8BEN and W-8BEN-E and instructions for completing the forms are available at the IRS or U.S. Post offices. You can also access the forms and instructions by clicking the links below: