What do I need to do?
If you want to deal on US equities from any of your IG accounts, you’ll need to complete and return a simple form. Most clients can complete the form electronically, and file it with us in a minute or two. Please do this before any income event, such as a dividend adjustment, to avoid paying too much withholding tax.
Which form you use depends on individual circumstance — either a W-8BEN form or W-9 form. Each form is valid for the remainder of the year it is signed, plus three full years after that. We will notify you when your form needs to be recertified.
If you’re not an institutional client, joint account holder or US citizen, just follow these steps:
Log in to your IG account with your web browser
- Go to the ‘settings’ tab in My IG
- Select ‘dealing US stock’
- Answer a few questions about your tax status and e-sign the form
This will complete the form electronically, and file it with us. The whole process should only take a minute or two.
Alternatively if you are an individual US citizen or taxpayer you can access a W-9 form here.
Why do I need to do this?
Withholding-tax documentation, including W-8BEN/W-9 forms, are required under IRS rules. They allow us to apply the preferential treaty rate to dividend-equivalent payments where applicable. By completing the relevant form, the amount of withholding tax you'll pay on your dividends could reduce from 30%.
What does IG do with your information?
We will hold these forms on file and will not provide them to the IRS unless they are required as part of an IRS audit.