When opening a Folionet investment account electronically, a Form W-8 is filled out for clients residing outside the United States, or Form W-9 for U.S. residents.
For international accounts, Form W-8 has a maximum validity of four (4) years. Once this period expires, if the form is not updated by the account holder(s), the IRS (Internal Revenue Service) may apply tax withholdings on the investment account.
It is important to note that Folionet is not responsible for withholdings generated as a result of an expired form. In these cases, the client must deal directly with the IRS for any request for tax refunds.
Proactively, Folionet contacts clients whose accounts have a Form W-8 expiring soon, sending notifications by email. This allows us to timely assist our users in the update process, ensuring a transparent and uninterrupted experience.
