US Source Income IRS remitting and reporting rates and requirements.

IRS Remitting and Reporting requirements for U.S. sourced income securities:
•For a US holder that is W9 certified- no IRS backup withholding tax. They receive a 1099DIV form
•For a US holder without a W9 submitted – 28% IRS backup withholding tax needs to be deducted. They receive a 1099DIV form
•For a non-US holder that is W8 certified – IRS NRA tax will be deducted based on the maximum 30% rate or US treaty rate, if applicable – They recieve a 1042-S
•For a non-US holder without a valid W8 – 30% IRS NRA tax will be deducted. They receive a 1042-S.

Author: Warren Orlans

Welcome to inTAXicating. inTAXicating has been published since 2008 to provide clarity around Canadian taxation issues, primarily related to the Canada Revenue Agency. As the primary author, Warren Orlans, has over 20-year's experience in the taxation industry, 11 of them working for the Canada Revenue Agency (CRA), and 7-years working in the private sector Managing the tax departments for large financial institutions. If you have a collections, compliance or audit issue with the CRA, inTAXicating is the place you need to contact. inTAXicating works in strategic partnership with amazing accountants, tax lawyers, insolvency practitioners, mortgage brokers, debt counselling experts and much more. If you have a tax question, email it to info@intaxicating.ca or to intaxicatingtaxservices@gmail.com.

2 thoughts on “US Source Income IRS remitting and reporting rates and requirements.”

  1. I really got into this post. I found it to be interesting and loaded with unique points of interest. I like to digest material that makes me think. ThanksThank you for sharing this great content.

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