IRS Issues Form W-8ECI Instructions to Report Income Under FATCA

March 7 — The Internal Revenue Service released instructions for Form W-8ECI for use by foreign taxpayers in telling the agency that their income is effectively connected with a U.S. trade or business, updated to reflect the Foreign Account Tax Compliance Act.

Posted to the IRS’s website late March 6, the instructions followed the March 4 release of a final version of Form W-8ECI, Certificate of Foreign Person’s Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States.

Also March 4, the IRS issued the final version of Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals) and instructions.

Credit: BNA