Definition
Form W-8BEN / W-8BEN-E
The IRS forms a non-US investor files to certify foreign status and claim treaty benefits.
Form W-8BEN is the certificate a non-US individual provides to establish that they are a foreign person, and W-8BEN-E is its equivalent for foreign entities. An SPV collects one from every non-US limited partner, because without a valid form on file the withholding agent must apply the highest statutory rate and cannot apply any reduced treaty rate. The form is where the investor claims treaty benefits, which requires a foreign taxpayer identification number and a statement of the treaty article relied on. Forms generally remain valid until the end of the third calendar year after signing, so they expire and need re-collection — a detail that catches SPVs holding positions for five or more years.