SIPP - US withholding tax

[thekingisdead]

Myself (and family members) hold a SIPP with vanguard.
Only hold global trackers (index funds/ETFs)

Is there anything I need to do to get the refund on the 15% withholding tax that is eligible for SIPP holdings?
Or is this already taken care of?

Have googled - can't find an answer

[anonymous-user]

File a W8-Ben with Vanguard? I’d hope they could stop the withholding as they can with individual stocks.


ETA: https://ew8login.vanguard.com/us/faces/com/vanguar...

Edited by anonymous-user on Tuesday 17th May 11:30

[The Leaper]

The W-8BEN form is for an individual person. I don't think that it will apply to a SIPP and I cannot see how the form can be filled in for a SIPP. Where would the W-8BEN be filed? I don't know if there is a "SIPP equivalent" form.

A W-8BEN form filing does not stop withholding tax being applied. However, if accepted, it will reduce the rate/amount of the tax due to double taxation agreement between UK and USA..

I would have thought a call to Vanguard will provide the answer to the questions, although they may claim this is a personal taxation matter (which it isn't) so they may not help you.

R.

[supersport]

I can see that you would need to complete one if holding individual US shares in your SIPP, but I wouldn't expect that to be the case with a fund of some kind.

Never seen mention of such a thing.

[Hol]

supersport said:

I can see that you would need to complete one if holding individual US shares in your SIPP, but I wouldn't expect that to be the case with a fund of some kind.

Never seen mention of such a thing.

The only one I can think of (a fund structure) is if the person is a direct or indirect investor into a Tax Transparent Fund.

But that’s definitely not the scenario in the OP, where the SIPP is holding the assets directly as a opaque fund.

[Hol]

thekingisdead said:

Myself (and family members) hold a SIPP with vanguard.
Only hold global trackers (index funds/ETFs)

Is there anything I need to do to get the refund on the 15% withholding tax that is eligible for SIPP holdings?
Or is this already taken care of?

Have googled - can't find an answer

If Vanguard have a treaty in place on behalf of the SIPP, then reclaims of tax will be automatic and likely included as an accrual before they are physically revived.

Just email your question to someone on the help desk and ask that they pass it on to the Tax Team, for their answer.

[anonymous-user]

The Leaper said:

The W-8BEN form is for an individual person. I don't think that it will apply to a SIPP and I cannot see how the form can be filled in for a SIPP. Where would the W-8BEN be filed? I don't know if there is a "SIPP equivalent" form.

A W-8BEN form filing does not stop withholding tax being applied. However, if accepted, it will reduce the rate/amount of the tax due to double taxation agreement between UK and USA..

I would have thought a call to Vanguard will provide the answer to the questions, although they may claim this is a personal taxation matter (which it isn't) so they may not help you.

R.

This from HL website: (emboldening is mine)

“A W-8BEN form means we can claim a US tax reduction for you on your dividends and interest from US shares. Withholding tax rates can be reduced from 30% to 15%, or to 0% if your shares are held in a SIPP.”

Edited by anonymous-user on Tuesday 17th May 14:04

[The Leaper]

Hang On said:

The Leaper said:

The W-8BEN form is for an individual person. I don't think that it will apply to a SIPP and I cannot see how the form can be filled in for a SIPP. Where would the W-8BEN be filed? I don't know if there is a "SIPP equivalent" form.

A W-8BEN form filing does not stop withholding tax being applied. However, if accepted, it will reduce the rate/amount of the tax due to double taxation agreement between UK and USA..

I would have thought a call to Vanguard will provide the answer to the questions, although they may claim this is a personal taxation matter (which it isn't) so they may not help you.

R.

This from HL website: (emboldening is mine)

“A W-8BEN form means we can claim a US tax reduction for you on your dividends and interest from US shares. Withholding tax rates can be reduced from 30% to 15%, or to 0% if your shares are held in a SIPP.”

Edited by Hang On on Tuesday 17th May 14:04

Excellent response to my post!

If HL can do it, so should Vanguard.

R.

[supersport]

The Leaper said:

Hang On said:

The Leaper said:

The W-8BEN form is for an individual person. I don't think that it will apply to a SIPP and I cannot see how the form can be filled in for a SIPP. Where would the W-8BEN be filed? I don't know if there is a "SIPP equivalent" form.

A W-8BEN form filing does not stop withholding tax being applied. However, if accepted, it will reduce the rate/amount of the tax due to double taxation agreement between UK and USA..

I would have thought a call to Vanguard will provide the answer to the questions, although they may claim this is a personal taxation matter (which it isn't) so they may not help you.

R.

This from HL website: (emboldening is mine)

“A W-8BEN form means we can claim a US tax reduction for you on your dividends and interest from US shares. Withholding tax rates can be reduced from 30% to 15%, or to 0% if your shares are held in a SIPP.”

Edited by Hang On on Tuesday 17th May 14:04

Excellent response to my post!

If HL can do it, so should Vanguard.

R.

That does say on shares held in a SIPP not etf etc.

And I would indeed expect it go to zero.

I have one registered in US brokerage account and they withhold ZERO tax.