Saturday, February 9, 2013

What is the W8BEN?


The W8BEN is a form used to confirm you are not a U.S. taxpayer. For record-keeping purposes, oDesk requires a W8BEN for all non-U.S. taxpayers who withdraw oDesk earnings. Contractor needs to enter their name, address, check the I Agree box, and press Save. The system will activate their eligibility to withdraw funds immediately.
It is important to note that oDesk does NOT:
  • Withhold any taxes from your earnings.
  • Use the W8BEN to report your income to anyone.
  • Ask for any taxpayer identification numbers.
  • Require you fill out a form.
  • Determine, or in any way affect, whether or not you owe taxes in your own country. 
Please consult a local tax professional to determine whether your contractor earnings are taxable.

U.S.residents and tax payers are required to file a W9.


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