The W-8 BEN form is a legal document needed by the IRS (Internal Revenue Service) which declares your tax status.
When you sign up, we digitally complete the W8-BEN for you.
We’ve automated this process together with our US broker-dealer, so your documentation is complete, and the appropriate withholding tax will be applied to your account.
Please note there is a one-off cost to complete this process ($5 USD) deducted from your Douugh account the first time you fund.
However, completing it reduces any withholding tax on share sales and also drops the amount of withholding on any income (such as dividends) from 30% to 15%.