NSD provides its clients with a possibility to reduce tax rates applicable to income on a wide range of foreign securities.
Information on the possibility to apply tax exemptions and reliefs and information on how these could be applied is communicated directly to holders of foreign securities before the payment of income on foreign securities.
When making transactions in foreign securities either through clients’ accounts with NSD, or through NSD’s accounts with ICSDs, NSD’s clients must comply with the requirements set forth by the applicable foreign tax laws that govern taxation of such transactions.
The list of documents required in order to be able to apply tax exemptions and reliefs for income payment on U.S. securities is available at the following link:
Tax Reliefs Applicable for Income Payment on U.S. Securities. IRS Forms
When income is paid on U.S. securities, NSD provides services that allow reducing the tax rate as part of the ‘Withholding Tax Relief Certification’ (WTRC) corporate action. Information on the possibility to apply tax exemptions and reliefs and information on how these could be applied is communicated directly to holders of U.S. securities before the payment of income on such securities. Time limits for submission of applications for the participation in the ‘Withholding Tax Relief Certification’ (WTRC) corporate action are determined on a case-by-case basis for each particular income payment on U.S. securities in line with the time limits determined for information disclosure to the relevant ICSD, and are communicated to the holders of the relevant U.S. securities.
By default, income on U.S. securities is subject to the 30% tax rate. To reduce the tax rate on income on U.S. securities at the source of income payment in accordance with the rules of identification of non-U.S. financial intermediaries and securities owners who are subject to the U.S. tax laws, NSD’s clients must submit the following identification forms:
For owner securities accounts:
Completed and signed Form W-8BEN-E (Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities);
Completed and signed Form W-8EXP (Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting);
Completed and signed Form W-ECI (Certificate of Foreign Person's Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States);
For nominee securities accounts and trustee securities accounts:
Completed and signed Form W-8IMY (Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting) – for each intermediary (nominee holder) in the chain of holders of securities subject to the corporate action;
If the beneficial owner of income is an individual – completed and signed Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals));
If the beneficial owner of income is an entity – completed and signed Form W-8BEN-E (Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities));
If the beneficial owner of income is a foreign government, international organization, foreign central bank of issue, foreign tax-exempt organization, foreign private foundation, or the government of a U.S. possession receiving a taxable payment or a payment from which tax is to be withheld in accordance with Chapter 3 of the U.S. Internal Revenue Code) – completed and signed Form W-8EXP (Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting);
If the beneficial owner of is a foreign person and the beneficial owner of income from a U.S. source that is (or is deemed to be) effectively connected with the conduct of a trade or business in the United States – completed and signed Form W-ECI (Certificate of Foreign Person's Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States);
If the beneficial owner is a U.S. person – completed and signed Form W-9 (Request for Taxpayer Identification Number and Certification).
Forms for IRS Tax Procedures
#
Form
Name
Form Completion Instructions
In Russian
In English
W-8BEN
70
kB
Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding
193 kB
W-8BEN-E
293 kB
Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)
240 kB
W-8IMY
305 kB
Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding
250
kB
W-8EXP
180 kB
Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting
185
kB
W-8ECI
140 kB
Certificate of Foreign Person's Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States
150 kB
W-9
127 kB
Request for Taxpayer Identification Number and Certification
* Расчет примерной суммы комиссионного вознаграждения может отличаться от фактической стоимости оказанных услуг НКО АО НРД, в том числе ввиду изменения обязательств по договору РЕПО в течение срока обслуживания (например, по причине исполнения компенсационных взносов, изменения валютных курсов Банка России или изменения даты 2 части РЕПО).
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