As I have previously discussed, earlier this year the IRS released the final version of form W-8BEN-E, which along with forms W-8BEN, W-8ECI, W-8EXP, and W-8IMY are connected to the Foreign Account Tax Compliance Act (FACTA). Now, instructions for those forms are available, which include the requirements of due diligence and how to validate the forms for FACTA compliance.
See Chuba Abaelu, IRS Releases Supplemental Instructions for FACTA Compliance, Wealth Strategies Journal, August 2, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
