Each year, the IQ must send a report to the IRS for us to obtain paid income and U.S. deductions from its clients. The main points of the program can be summarized as follows: the overall rate of income from U.S. sources is 30%. This applies to interest and dividends when NRA clients are not documented. On the other hand, if documented, the reduced rates provided by the double taxation contract between the United States and the person`s country of tax residence apply. In addition, interest on bonds may be covered by the interest rate exemption (products with the performance code 01 and exemption code 05), so that they are not withheld at source. It is possible to extend the terms of submission of forms: beware, these forms are used to extend the filing time of forms, but not for the filing of sums due to the IRS (for example. B withholding tax). Here are the methods and reporting times. The NRA customer who submitted the W8 form and the U.S. customer who submitted the W9 form before receiving the U.S.
product are considered documented. The documentation of direct IQ customers is authorized by the kyc rules.