IRS Form W-9 is used to certify to OppenheimerFunds that your Tax Identification Number is correct, if you are an exempt payee or exempt from federal backup withholding, and that you are a U.S. citizen or U.S. resident. Note that the FATCA exemption code on the most recent version of Form W-9 applies to “persons submitting Form W-9 for accounts maintained outside of the United States.” Therefore, since accounts held at OppenheimerFunds are maintained within the United States, you can leave the FATCA exemption code box blank if you need to provide us with a completed Form W-9. Please visit our FATCA resource page for more information on FATCA and its applicability to certain shareholders.

If you are not a U.S. citizen or U.S. resident, you should instead complete Form W-8 described below. If you are unsure if you are a U.S. resident, then you should contact a tax advisor to discuss your situation.

IRS Form W-8 – Please note that it is extremely rare that shareholders in Oppenheimer funds would be requested to complete Form W-8. If you are unsure what form to complete you should consult a U.S. tax advisor.

Income that you earn from U.S. sources, including U.S. mutual fund distributions and U.S. retirement plan distributions, is subject to U.S. tax. Income of this U.S. source paid to a foreign person is taxed at a rate of 30%, in general. If you, the foreign recipient of the income, are a resident of a country that the U.S. has a tax treaty with then you may be eligible for a reduced rate of tax withholding. You may also be eligible for a reduced rate of withholding based on your status as a tax exempt organization or foreign government. To certify any reduced rate of, or exemption from, tax withholding you must complete and return a signed Form W-8 as described below. There are 5 different kinds of Form W-8. All Form W-8s certify your status as foreign, rather than as a U.S. citizen or U.S. resident. If you are a U.S. citizen or U.S. resident you should not complete Form W-8. You should complete Form W-9 instead. If you are unsure if you are a U.S. resident then you should contact a tax advisor to discuss your situation.

In addition to establishing your foreign status, Form W-8 can also be used to certify a reduced rate of tax withholding on payments you receive. Each type of Form W-8 is used to establish different qualifications; you should consult a tax advisor to discuss the situation that applies to you.

  • Form W-8BEN – this is for individuals claiming a reduced rate of tax withholding under a tax treaty with the U.S. Rates generally range from 0% to 25%. This form requests personal identification details, country of residence to claim treaty benefits, and signature. Entities (non-individuals) should not use Form W-8BEN. Instead they should use Form W-8BEN-E described next. Individuals claiming a 0% rate of withholding for Effectively Connected Income should not use Form W-8BEN. Instead they should use Form W-8ECI discussed later.
  • Form W-8BEN-E – this is for entities (non-individuals) claiming a reduce rate of tax withholding under a tax treaty with the U.S. Rates generally range from 0% to 25%. Entities (non-individuals) claiming a 0% rate of withholding for Effectively Connected Income should not use Form W-8BEN-E. Instead they should use Form W8-ECI discussed later.
  • Form W-8ECI – this is for individuals and entities (non-individuals) claiming a tax withholding rate of 0% as the income is effectively connected with a U.S. trade or business. A U.S. taxpayer identification number is always required to complete this form.
  • Form W-8EXP – this is for specified recipients such as foreign governments, foreign tax exempt organizations, and foreign banks claiming a reduced rate, or exemption from, tax withholding.
  • Form W-8IMY – this is for foreign intermediaries to identify themselves and the responsibilities of certain parties for withholding and reporting. Withholding rates can vary depending on the type of intermediary identified.

Reminders on how to submit Form W-8

  • Make sure after completing all applicable parts of the form to sign and date the form.
  • If you are electing/certifying a reduced rate of tax withholding based on a tax treaty via Form W-8BEN or W-8BEN-E, you should ensure that you have entered the full unabbreviated name of the country that you are claiming tax treaty benefit under – on Form W-8BEN this is Part II Line 9, on Form W-8BEN-E this is Part III Line 14a. Abbreviations of country names will make the form invalid.
  • If your account at OppenheimerFunds is registered in more than one name, each investor should complete a separate Form W-8.
  • You should ensure that you have not used a Post Office Box or Care Of Address in the Permanent Address fields.
  • You should ensure you are using the most recent version of the Form W-8 released by the IRS.
  • You should include your account number(s) with OppenheimerFunds in the spaces provided on the form for “Reference Number(s)”.
  • If you maintain a U.S. mailing address you should include the following with your Form W-8:
    • a legible copy of documentary evidence that is less than three years old confirming your permanent foreign residence, foreign citizenship, or foreign country of organization or incorporation. This includes the following:
      • Certificate of residence issued by an appropriate tax official of the country of residence indicating that you have filed your most recent tax return as a resident of that country, or;
      • Valid individual government identification issued by an official authorized governmental body (including a photo), or;
      • Valid entity (non-individual) documentation that includes the name of the entity and the address of its principal office in the country of residence and is an official document issued by an authorized governmental body.
        And;
      • a brief written explanation of the reason you are using a U.S. mailing address. This explanation should include a certification that the individual or entity is treated as a resident of a country other than the U.S. and is not treated as a U.S. resident or U.S. citizen for purposes of that income tax treaty.
  • When you are ready to provide your completed and signed Form W-8 you have the following options:
    • You can fax your completed Form W-8 to 303-768-1500. A paper mailed original is no longer required to be provided. When faxing international first use your international dialing code, with the U.S. country code of 1, and then dial our number noted above.
    • You can mail your completed Form W-8 to:
      OppenheimerFunds Services
      P.O. Box 5270
      Denver, CO 80217-5270
      United States
    • If you have any questions, please email us via the Contact Us section of our website or call us at 303-768-3200. We are available Monday through Friday from 8:00 a.m. to 8:00 p.m. Eastern Time. We will be glad to assist you. When calling international first use your international dialing code, with the U.S. country code of 1, and then dial our number noted above.
  • If you are a U.S. citizen or U.S. resident you should not complete Form W-8. You should complete Form W-9 instead. If you are unsure if you are a U.S. resident then you should contact a tax advisor to discuss your situation.