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Alternatives to foreign vendors filling out Form W-8BEN?
March 10, 2023
Q. Background: My organization has had several foreign tour leaders for a decade, and they never were asked to submit W-8BEN. Recently we requested the form upfront before processing the payment. The challenge is that most foreign vendors are unhappy and cannot read the English tax form. I wonder what the penalty is if we do not collect the W-8BEN. Is there any other option rather than filling out the tax form?
A.
(Answered by IOFM's third-party tax experts)
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