DEGIRO not accepting US Withholding Tax Application??

C

ceannt

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I have tried to apply for the lower tax rate on US income on the DEGIRO website and app. Because my bank account is based in Germany and does not align with my country of residency (Ireland) and tax residency (Ireland) DEGIRO will not accept my application? How can I apply for the lower tax rate for US income?​

DEGIRO Answer
Many countries have a bilateral tax treaty with the United States that allowes investors to apply for a lower tax rate on dividend and interest income. You can therfore ask us to apply this lower tax treaty rate for your DEGIRO account. You can do this by completing the form ‘W-8BEN/ W-8BENE’, which you can find under ‘Tax information’ in your account settings.
In order to successfully apply for this ‘Relief at Source’ service, your country of residency, country of tax residency and bank account country should match (meaning, all should be registered in the same country). Whether you are entitled to the lower tax treaty rate depends on the information you provide and the applicable laws and regulations.
The lowered tax treaty rates on US income are applicable on a selected list of US products, the so called ‘green list’. This list covers almost all US products. There are only a few exceptions. On our platform you’re able to check the product detail page of each specific US product and see if the product is on the green list.
 
I don't think so.
I have a few degiro accounts and they work off ptsb demand accounts and credit union accounts. You could open a free demand account with ptsb. No need for a current account.
 
I've had this issue with DeGiro too. On further enquiry, they said they're a low cost broker and they can't be expected to investigate beyond the location of the bank account at their level of charges. When I get the finger out, I'll change my bank account to an IE IBAN with either bunq or revolut
 
Thanks Fortune. I think Degiro ae being overly strict here. Once the bank account is in SEPA that should suffice. I have completed a W8-BEN separately and there is no reference to bank account location.

Its a shame that you have to set up another account with pTSB S class to overcome a Degiro issue.
 
ceannt said:
Its a shame that you have to set up another account with pTSB S class to overcome a Degiro issue.
Click to expand...
You could use Revolut or Bunq as suggested by Fortune.
It can be useful to have an Irish bricks and mortar bank account,
If might need to lodge an acc/payee cheque or cash over the counter.
 
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