W9/W8 for an offshore (disregarded) LLC

[JackAlabama]

Interesting. I am just assuming and would love to know the actual reason.

It's a huge change indeed. After all, the US (e.g., Delaware) is the world's biggest offshore jurisdiction.
The US is obviously not interested in changing something that benefits it, but other countries are putting some pressure.

Pandora Papers: European Parliament describes UK and US as global hubs for money laundering and tax evasion

"EU blacklist of tax havens has become a blunt instrument, unable to catch some of the worst-offending countries."

www.brusselstimes.com

I wonder who these other countries are? Maybe the almighty Ursulandia can put pressure on the US?

The other two which could do it realistically are being made into Pariahs which result in a war like state than mutual cooperation of happy data sharing.

 

[Don]

Even if its income from out side of US?

A W-9 is a tax form that informs the IRS that a taxpayer is not subject to backup withholding, and is responsible for paying his or her own taxes.

If its not submitted they might treat you accordingly.

 

[Alexmorgan]

A W-9 is a tax form that informs the IRS that a taxpayer is not subject to backup withholding, and is responsible for paying his or her own taxes.

If its not submitted they might treat you accordingly.

Thank you for your advice

 

[Cloudbanck]

A W-9 is a tax form that informs the IRS that a taxpayer is not subject to backup withholding, and is responsible for paying his or her own taxes.

If its not submitted they might treat you accordingly.

For US persons yes, so called "non-resident aliens" should as previously mentioned file W-8BEN, not W-9. But Ive understood the form Mercury requires is not the actual IRS W-9 form, but just similar information. Also, I havent heard other US banks require this, just Mercury. So it could be someone at Mercury's legal department making their own interpretation of regulations, and decided that this was necessary to cover all bases. Hard to know though. And if one asks them why this is needed, Im guessing one gets no clear answer.

 

[Alexmorgan]

For US persons yes, so called "non-resident aliens" should as previously mentioned file W-8BEN, not W-9. But Ive understood the form Mercury requires is not the actual IRS W-9 form, but just similar information. Also, I havent heard other US banks require this, just Mercury. So it could be someone at Mercury's legal department making their own interpretation of regulations, and decided that this was necessary to cover all bases. Hard to know though. And if one asks them why this is needed, Im guessing one gets no clear answer.

I heard from some people that Relay are doing the same