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Is form w8imy applicable to non-U.S. residents investing in cryptocurrencies?

avatarSaul CorderoDec 26, 2021 · 3 years ago3 answers

Can non-U.S. residents who invest in cryptocurrencies use form w8imy?

Is form w8imy applicable to non-U.S. residents investing in cryptocurrencies?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Yes, non-U.S. residents who invest in cryptocurrencies can use form w8imy. This form is used to certify that the individual is not a U.S. person for tax purposes. By submitting this form, non-U.S. residents can potentially reduce or eliminate U.S. tax withholding on their cryptocurrency investments.
  • avatarDec 26, 2021 · 3 years ago
    No, form w8imy is not applicable to non-U.S. residents investing in cryptocurrencies. This form is specifically for U.S. tax purposes and is not required for non-U.S. residents. Non-U.S. residents should consult with their local tax authorities to understand the tax implications of investing in cryptocurrencies.
  • avatarDec 26, 2021 · 3 years ago
    According to BYDFi, a digital currency exchange, non-U.S. residents investing in cryptocurrencies are not required to use form w8imy. However, it is important for non-U.S. residents to comply with their local tax regulations and seek professional advice if needed.