When you sign up and fund your account, we digitally complete the W-8BEN (or W9 if you are a U.S. tax resident) for you.
This reduces any withholding tax on share sales and also drops the amount of withholding on any income (such as dividends) from 30% to 15%.
Stake has automated this process together with our U.S. broker-dealer, so your documentation is complete and the appropriate withholding tax will be applied to your account.
Purpose of the W8 form
For listed securities that derive income in the USA, the US Internal Revenue Service (IRS) requires certain documentation from the ultimate beneficial owner to ensure the appropriate level of withholding tax is deducted.