The bankrupt cryptocurrency exchange FTX posted on social platform
How to fill in FTX repayment information
According to the website provided by FTX, log in to the customer claim website normally and select the corresponding platform to start. Filling in the information is divided into 8 steps:
- Verification account;
- Verify the identity of the account holder;
- Perform KYC;
- View Account Balances;
- Check claim certification status;
- conduct a vote;
- Select tax requirements;
- Select a payment option.
If you are a creditor of FTX, you should complete the above 8 options in the previous claim steps, light them up and check them. The new tax requirements added this time will pop up when you log in. Please refer to the following steps to fill in:
1. Click "Generate Tax Form";
2. Taiwanese users need to click "No" to indicate that they are non-US tax users;
3. Individual users must click "Individual" in the beneficiary option;
4. Finally fill in the W-8 BEN form, including name, birthday, nationality,
If you are a Taiwanese user, please fill in the Taiwan ID number in the Foreign Tax Identification Numer (FTIN). If you are not an individual entity, fill in the unified number here.
What is Form W-8 BEN?
For many non-U.S. taxpayers, they may not be familiar with what Form W-8 BEN is. In fact, the English translation of the U.S. W-8 BEN is the foreign identity certificate of the beneficial owner of U.S. withholding taxes. This form is a tax document submitted to the U.S. withholding agent by a non-U.S. citizen or resident (foreign person). This form is mainly used for the following purposes:
- Apply for a lower tax rate or exemption from withholding tax: Under tax treaties between the United States and certain countries, foreigners may be eligible for lower withholding tax rates (such as dividends, interest, royalties, etc.). After submitting Form W-8 BEN, the U.S. payer can apply the preferential tax rate stipulated in the agreement instead of the standard 30% withholding tax rate.
- Proof of Identity and Foreign Tax Residency: With this form, taxpayers can prove that they are not U.S. tax residents and therefore not subject to the U.S. global taxation system.
- Preventing Double Taxation: Submitting forms can help foreign taxpayers avoid double taxation in the United States and their country of residence.
Additionally, the W-8 BEN form is for individuals, while the W-8 BEN-E is for foreign entities, such as corporations or other organizations.
