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Topic: Bank requesting a W-9  (Read 727 times)

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Bank requesting a W-9
« on: December 15, 2017, 01:15:13 PM »
Barclays has asked me to fill in paperwork regarding tax residency and citizenship info along with an W-9 for my son's child savings account.  I am in control of the account until he reaches the age required for transferring into his name as an adult savings account.  The letter calls me a trustee.  Barclays assures me it is not a trust and that it is not a joint account. I'm not sure what the US would make of it.

The paperwork just asks for child's name, address, birthdate and TIN.  The W-9 (also to be in child's name) looked straightforward until I realised it's geared for a business.  Any thoughts on what to check for line 3?  The instructions don't explain the box for Other despite saying "see instructions".  I've left lines 2 and 4 blank (and 7 as it's optional).

Has anyone else been asked to complete W-9 or any other paperwork? I've yet to be asked for anything and I have several grown-up accounts with Barclays.  When I called in for advice, the FATCA team pointed me towards their website and said I could download and send in to them a self certification form and a W-9.  They were unable to confirm from their records that I am UK/US citizen as their system only allows one nationality to be entered in.


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Re: Bank requesting a W-9
« Reply #1 on: December 15, 2017, 01:55:31 PM »
On page 3, looking at the chart, it clearly states that if the person on line 1 is an individual, then you check the first box (Individual/sole proprietor or single-member LLC).

Don't over-think this form.


Married December 1992 (my 'old flame' whom I first met in the mid-70s)
1st move to UK - 1993 (Letter of Consent granted at British Embassy in Washington DC)
ILR - 1994 (1 year later - no fee way back then!)
Back to US in 2000
Returned to UK July 2011 (Spousal Visa/KOL endorsement)
ILR - September 2011
Application for naturalization submitted July 2014
Approval received 15-10-14; ceremony scheduled for 10 November!
Passport arrived 25 November 2014. Finally done!


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Re: Bank requesting a W-9
« Reply #2 on: December 15, 2017, 02:05:22 PM »
Thanks for your reply Vadio.

Well of course...that's from W-9 rev Nov 2017!  Barclays provides a download link to the 2014 rev which does not have the clear to understand chart.  Grrrr. I should have checked myself for the latest on the IRS website.


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Re: Bank requesting a W-9
« Reply #3 on: December 15, 2017, 03:14:45 PM »
Remember naturally to make sure your son has no PFICs in his savings and that his account(s) are reported in the signature authority section on your own annual FBAR...
« Last Edit: December 15, 2017, 03:16:35 PM by guya »


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Re: Bank requesting a W-9
« Reply #4 on: December 15, 2017, 04:20:39 PM »
Yes, will do.  Thanks guya!


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