06 Jan 2021

W-8BEN Form for Trading and Holding of US shares

W-8BEN Form is for US Inland Revenue Tax Purpose and it is compulsory for all non-US citizens/residents to have a valid W-8BEN to trade in the US Markets or hold US shares.

It has a validity of 3 years and clients are required to resubmit after the 3rd calendar year. If we do not receive your updated W-8BEN after it has expired, your account will be blocked from buying US shares.

Submission can be made via email to contact@utrade.com.sg


1. US citizens and residents are restricted from trading in the US market through UOB Kay Hian, due to NASD regulatory policy. Should your citizenship/residency change from non-US to US, you are required to notify us immediately and close your account.

2. Likewise, should your citizenship/residency change from a non-US country to another non-US country, you are required to resubmit the W-8BEN form.

3. Submission of the W-8BEN form does not exempt clients from withholding tax imposed on dividends/interests.

4. There will not be renewal of W-8BEN notification if you do not hold US shares or trade within 3 years.

5. For Corporate Account, kindly download W-8BEN-E Form.

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