Non-U.S. investors are required to a complete and valid IRS Form W-8BEN to certify their tax status. This form expires three calendar years after the signature date, unless material account information changes (causing the form to become invalid prematurely). Without a valid W-8BEN on file, Internal Revenue Code Section 3406(a)(1)(B) will require SKGAC to begin federal backup withholding at a rate of 24% on all taxable dividends, interest, sales proceeds (including those from options transactions), and other reportable distributions credited to your account. Typically, notifications are sent before your W-8BEN expires to remind you that new paperwork is needed.
Updated: 4/8/2021