This message is sent once per year by every Non-Qualified Intermediary (NQI) to their Withholding Qualified Intermediary (QI) for each customer who owns a U.S. security. If a Form W8-BEN contains a tax identification number, it is valid forever; if not, it is valid for a period of 3 years unless there is a change in information.

This message is used to certify the foreign status of a beneficial owner for United States Tax Withholding. Foreign persons are subject to U.S. tax at a 30% rate on income they receive from U.S. sources that consists of: interest (including certain original issue discount(OID)); dividends; rents; royalties; premiums; annuities; compensation for, or in expectation of, services performed; substitute payments in a securities lending transaction or other fixed or determinable annual or periodical gains, profits or income.

More generally, this message can be sent to provide beneficial owner information required to process withholding tax reclaims and applications for relief at source.

• establish that you are a foreign person,

• claim that you are the beneficial owner of the income for which Form W8-BEN is being provided,

• if applicable, claim a reduced rate of, or exemption from, withholding as a resident of a foreign country with which the United States has an income tax treaty.

You may also be required to submit Form W8-BEN to claim an exception from domestic information reporting and backup withholding at a 31% rate, including for certain types of income that are not subject to foreign-person withholding.

You may also use Form W8-BEN to certify that income from a notional principal contract is not effectively connected with the conduct of a trade or business in the United States.

Provide Form W8-BEN to the withholding agent or payer before income is paid or credited to you. Failure to provide a Form W8-BEN when requested may lead to withholding of a 30% or 31% amount from the payment.

• request the cancellation of a previously sent Form W8-BEN,

• replace a previously sent Form W8-BEN if a change in circumstances makes any information about the Form W8-BEN you have submitted incorrect (you must notify the withholding agent or payer within 30 days of the change in circumstances and you must file a new Form W8-BEN or other appropriate form).