Instructions for Form W-8IMY (October 1998) Certificate of Foreign Intermediary, Foreign Partnership, or Certain U.S. Branches for United States Tax Withholding Section references are to the Internal Revenue Code unless otherwise noted. Department of the Treasury Internal Revenue Service General Instructions Purpose of form.   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, rent, premiums, annuities, compensation for, or in expectation of, services performed, or other fixed or determinable annual or periodical gains, profits, or income. This tax is imposed on the gross amount paid and is generally collected by withholding on that amount. A payment is considered to have been made whether it is made directly to the beneficial owner or to another person, such as an intermediary, agent, trustee, executor, or partnership, for the benefit of the beneficial owner. Who must file.   Form W-8IMY must be provided by: l  A foreign intermediary, to represent that it is a foreign person and that it is a qualified intermediary or a nonqualified intermediary for the payments it receives and not the beneficial owner. A qualified intermediary uses the form to make representations about the status of foreign beneficial owners and to transmit information regarding certain U.S. payees to a withholding agent. A nonqualified intermediary uses the form to transmit appropriate documentation regarding foreign beneficial owners and certain U.S. payees to a withholding agent. Note:   If a nonqualified intermediary provides a Form W-8IMY without withholding certificates or other appropriate documentation attached, the payments for which the form is provided and for which no withholding certificates or other appropriate documentation are attached will be treated as payments to a foreign intermediary and not a beneficial owner. Consequently, those payments will generally be subject to withholding at a rate of 30% or 31% backup withholding rate. l  A foreign partnership, to establish its status as a foreign person or the status of its partners as foreign persons.   Form W-8IMY is used by a foreign withholding partnership to represent that it has assumed primary withholding responsibility.   Foreign partnerships other than withholding foreign partnerships use the form to transmit appropriate documentation to a withholding agent. For purposes of claiming treaty benefits, a foreign partnership includes a business entity that is treated as fiscally transparent in the country of residence of its interest holders even if the entity is not treated as a partnership for U.S. income tax purposes. l  A foreign person who is a trustee or executor of a U.S.   or foreign trust or estate. Such a person is considered to be a nonqualified intermediary unless it has entered into an agreement with the IRS to be treated as a qualified intermediary. If the foreign trustee is the trustee of a trust described in section 651(a), or a trust, all or a portion of which is treated as owned by the grantor or other person under sections 671 through 679, it must attach the Forms W-8BEN, Forms W-8EXP, or, if required, Forms W-9 of the beneficiaries or grantors of the trust. In all other cases, the foreign trustee or executor must attach a Form W-8BEN, Form W-8EXP, or, if required, Form W-9, Request for Taxpayer Identification Number and Certification, completed on behalf of the trust or estate. l  A U.S. branch of certain foreign banks and insurance companies, to represent: (a) that the income it receives is not effectively connected with the conduct of a trade or business within the United States, and (b) that it is using the certificate either to transmit the documentation of the persons for whom it is acting as an intermediary or as evidence of its agreement with a withholding agent to be treated as a U.S. person. See the Instructions for Part IV of this form. l  A reverse hybrid entity claiming treaty benefits on behalf of its interest holders. See Definitions on page 2. Provide Form W-8IMY to the withholding agent or payer before income is paid or credited to you on behalf of the beneficial owner. Failure to provide a Form W-8IMY with the required attachments may lead to withholding of a 30% or 31% amount from the payment. DO NOT use Form W-8IMY if: l  You are the beneficial owner of U.S. source income (other than income that is effectively connected with the conduct of a trade or business within the United States) and you need to establish that you are a foreign person. Instead, submit Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding. l  You are the beneficial owner of U.S. source income (other than income that is effectively connected with the conduct of a trade or business within the United States) and are claiming 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. Instead, provide Form W-8BEN. l  You are the beneficial owner of income that is effectively connected with the conduct of a trade or business within the United States. Instead, provide Form W-8ECI, Certificate of Foreign Person's Claim for Exemption From Withholding on Income Effectively Connected With the Conduct of a Trade or Business in the United States. l  You are a nonresident alien individual who claims exemption from withholding on compensation for independent or certain dependent personal services performed in the United States. Instead, provide Form 8233, Exemption From Withholding on Compensation for Independent (and Certain Dependent) Personal Services of a Nonresident Alien Individual, or Form W-4, Employee's Withholding Allowance Certificate. l  You are a foreign tax-exempt organization, foreign government, or foreign central bank of issue claiming the applicability of section 501(c), 892, 895, or 1443(b). Instead, provide Form W-8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding. However, these entities should use Form W-8BEN if they are claiming treaty benefits or are providing the form only to claim exempt recipient status for backup withholding purposes. l  You are a hybrid entity claiming treaty benefits on your own behalf, or you are a reverse hybrid entity and are not claiming treaty benefits on behalf of your interest holders. Instead, provide Form W-8BEN. See Definitions on page 2. Giving Form W-8IMY to the withholding agent.   Give Form W-8IMY to the person who is requesting it. Generally, this person will be the one from whom you receive the payment or who credits your account. Give Form W-8IMY to the person requesting it before income is paid to you or credited to your account. If you do not provide this form, the withholding agent Cat. No. 25904R