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W-8BEN recertification and withholding
April 4, 2022
Q. I work at a bank and we have recently been digging into our procedures surrounding the W-8BEN recertification and withholding on our customers when they do not return the form. I was hoping to get clarification on what the expectation is from the IRS for us to notify our customers when we will be placing them on backup withholding. I would like to know if we do have to give them advanced notice and if we do, how much notice we need to give them. Also if we have to contact them a certain way…
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