Us brokers is requesting to sign W8 or W9 in order to comply with IRS regulations, effective May 1, 2014 , in order to earn interest. In the new instruction to this forms says " withhold 30% of any payment". Interest which brokers paying on your account and including swap.
But by the new regulations, you can ( not have to) sign and if you not going to sign you will not be payed interest. So all + swap will not be payed, if you are not going to sign.
So I have to pay 30% + tax ????
How this will affect traders ???
But by the new regulations, you can ( not have to) sign and if you not going to sign you will not be payed interest. So all + swap will not be payed, if you are not going to sign.
So I have to pay 30% + tax ????
How this will affect traders ???
Even though I walk through the darkest valley, I will fear no evil