Individual Trading Account
How can I start trading? You need to have a trading account and an account with The Central Depository (Pte) Ltd (CDP). Get a CDP account The CDP account is for the settlement of trades. It keeps all the shares you buy on Singapore Exchange (SGX), and electronically records the movements of the shares in and out of your account as you buy and sell them.
If you do not have a CDP account, visit us and you can open one through us.
Open a trading account with us If you are a Singaporean/Singapore Permanent Resident (PR),
Visit OCBC Securities or any OCBC Branch
If you are a Malaysian/Foreigner,
Bring • NRIC or • 11B and passport (for NS men and SPF)
Bring • Malaysian IC or passport • Original Supporting document reflecting your name and address*
Visit OCBC Securities or any OCBC Branch
OR
Send by mail to the address below (only if you have a CDP account)
OR
Attach • Completed Trading Account Application form • Completed SGX Linkage form • Photocopy of your NRIC or • Photocopy of your 11B and passport (for NS men and SPF) • Original Supporting document reflecting your name and address*
Attach • Completed Trading Account Application form • Completed SGX Linkage form • Photocopy of your Malaysian IC or passport • Original Supporting document reflecting your name and address*
Send by mail to the address below (only if you have a CDP account)
You may need to make a deposit. Our broker (trading representative) will contact you after your account is opened. If you are under 21, a minimum deposit of S$1,000 is required. If you are a foreigner, a minimum deposit of S$2,000 is required.
Original supporting document is required as Proof of residential address. (Eg. Latest original telco, utility bill/statement or bank statement) *Note: • Above document should reflect your name and residential address. • If your mailing address is different from your residential address, please provide another supporting document reflecting your name and mailing address. • Date of supporting document must be less than 3 months from the date of application.
You will receive a confirmation mail from us in 5 to 8 working days. If you are applying from overseas, Please have your ID • Notary Public document and application • Justice of Peace forms certified by any one • Singapore Embassy staff member of these officers: The officer above performing the certification has to provide their name, contact number, company website.
If you wish to trade Overseas-Listed Investment Products and Specified Investment Products, please obtain the declaration forms from your broker (trading representative) or our customer service.
1800 338 8688/(65) 6338 8688
www.iocbc.com
[email protected]
Co.Reg.No:196600262R
For enquiries
OCBC Securities main office: 18 Church Street #01-00 OCBC Centre South Singapore 049479.
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Mail to
Reset Form
Apply for Trading Account All information is required unless stated.
1 Choose your trading account You will have online trading access for all selected accounts.
Trading Account (Cash) Basic account required to start trading
Additional trading options Securities Borrowing Account Share Financing Account
Sub Account Tick if you want us to safekeep your SGX-listed shares instead of CDP Equities Plus Account A pre-funded collateralised trading account
ü Sub Account
We will safekeep your SGX-listed shares
Preferred broker (trading representative)
Name
optional
2 Your details Personal details
Dr Name
Mr
Mrs
Mdm
Ms
As in NRIC/Passport
NRIC / Malaysian IC / Passport number
Date of birth
Age
DD / MM / YYYY
/
Nationality
Are you a Singapore PR?
Yes
No
Only for foreigners
/
Place of birth
Marital status Others
Singapore
Single
Married
Highest education
Residence is Self-owned
Family-owned
Mortgaged
Others
Rented
Below O Levels
O Levels
Tertiary (A Levels, Diploma or Degree) Others
Less than S$500,000
S$1,000,001 - S$2,000,000
S$500,000 - S$1,000,000
Above S$2,000,000
Mailing address
We require this mailing address to be the same as your account maintained with CDP
Residential address
Please specify reasons
Mobile number +( ) Email address
Country
Postal code
Country
Postal code
If different from above
If above residential address is different from mailing address
Home number +( )
Co.Reg.No:196600262R
Contact details
Net Worth
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Financial details
Employment details
Select only one
Employed
Self-employed
Occupation
Annual income
Company name
Office number +(
< S$30,000
S$100,001 - S$150,000
S$30,000 - S$60,000
S$150,001 - S$300,000
S$60,001 - S$100,000
> S$300,000
Compulsory
)
Company address
Country
Are you the business owner/partner?
Yes
Postal code
No
What is the industry of your business?
OR Unemployed Retiree
Housewife
Student
School name
Others
Please specify
3 Get to know you more Relationship
Are you related to any employee/broker (trading representative) of OCBC Securities Private Limited (“OSPL”)?
Yes
No
Are you unable to accept any capital losses and unwilling to take on investment risks?
Yes
No
Are you dependent on the assets/cash used for investment or trading with us to meet any current or future payments?
Yes
No
Do you have any physical, mental or visual impairment that might affect your ability to operate this account, including making investment and/or trading decisions?
Yes
No
Name of employee/broker (trading representative)
Mindset and ability
Relationship
If your answer is YES to any of the questions above, our services are probably not suitable for you and this application will be rejected. Where you already have an account with us, you should take steps to close the account.
Do you have any prior experience in securities1 trading?
Yes
No
Co.Reg.No:196600262R
Name of trading firm
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Trading experience
U.S. but are no longer a U.S. Tax Resident, please provide the following documents: • Certificate of loss of nationality of the U.S • Form I-407
Please provide one
of the following documents from ALL of the countries which you are a tax resident of: • Passport • National identity card • Government issued identity document4
Singapore Refer to NRIC for Taxpayer Identification Number (“TIN”). If NRIC is not your TIN, please specify:
United States of America3
Social Security No. (“SSN”)
Other Countries Please provide information of other tax residency(ies) in the table below. Country
TIN
If TIN is not available, select a reason TIN is not issued by country TIN is not required by country Unable to obtain a TIN
Country
TIN
Provide reason
If TIN is not available, select a reason TIN is not issued by country TIN is not required by country Unable to obtain a TIN
Country
TIN
Provide reason
If TIN is not available, select a reason TIN is not issued by country TIN is not required by country Unable to obtain a TIN
Provide reason
If you have more than three countries/jurisdictions, please complete an additional form. Country of address outside Tax Residency Please explain why the country of your residential address differs from the Tax Residency(ies) declared. This is one of my many addresses This is the address of a trusted person (e.g. family member, relative, personal assistant) This is a temporary address (e.g. for studies, work) Others
please specify
Please explain why the country of your mailing address differs from the Tax Residency(ies) declared. This is one of my many addresses This is the address of a trusted person (e.g. family member, relative, personal assistant) This is a temporary address (e.g. for studies, work) Others
please specify
! Due to Australian and U.S. Tax implications, we are unable to support Australian and U.S. Tax Residents in their trading in their respective markets.
Co.Reg.No:196600262R
If you were born in the
What is/are your Country(ies) of Tax Residence2?
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Tax Residency Declaration
4
OR
5 Not applicable if you are applying for sub account
6 Your payment method Pay via Interbank GIRO
Pay via Electronic Payment of Shares (EPS)
OCBC Bank • Automatically credit funds to my OCBC bank account • Payments are automatically deducted from my OCBC bank account
• Automatically credit funds to my bank account • Make payments using ATMs, internet banking and cheques
Name of bank account holder
Bank account number
Bank account number
Please omit the dashes
OR
Please omit the dashes
Participating banks OCBC
DBS/POSB
UOB
FEB
I hereby request and authorise you
Signature/Thumbprint used for this account
SIGN HERE
Name of billing organisation (BO): OCBC Securities Private Limited Account to be credited: 7339-501-105662-001 To: OCBC Bank
(i) from time to time to pay all sales proceeds due to me arising from the transactions effected through the above trading account (the “Trading Account”) to the bank account (the “designated Bank Account”) above; and (ii) to link the designated Bank Account in order for me to make payment from time to time for purchase or contra losses due to you arising from transactions effected through the Trading Account from the designated Bank Account.
By signing or placing my/our thumbprint(s) above, I/We agree and confirm that:
I/We note that I/we will be required to complete and submit a separate GIRO form in order to effect Interbank GIRO payment through DBS/POSB/UOB. The form is available from your customer service officer or my/our trading representative. For bank’s use Reference number
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DBS / POSB / UOB Bank
Co.Reg.No:196600262R
a) I/We, the account holder of this account, instruct you to process the BO’s instruction to debit my/our account. b) You can reject the BO’s instruction to debit my/our account if it does not have sufficient funds and charge me/us a fee for this. You may also allow the debit even if this results in an overdraft on my/our account and impose charges accordingly. c) This authorisation will continue until you terminate this arrangement by sending me/us a notice or when you receive my/our written revocation through the BO. d) I/We agree to be bound by the Terms and Conditions relating to Interbank GIRO. (A copy of the Terms and Conditions relating to Interbank GIRO is available at www.iocbc. com or upon request.)
7 Your acknowledgement and agreement 1. In making this application for the opening of account(s) with OSPL, I confirm that I have read, understood and agree to:
(a) (b) (c) (d)
all the contents in the Guide and Cautionary Notes; the Declaration and Agreement, and I agree that the terms and conditions therein form part of my application for opening of account(s) with you; the terms and conditions set out in this application and in OSPL Standard Trading Terms and Conditions (as such terms and conditions may be amended from time to time). (A copy of OSPL Standard Trading Terms and Conditions is available at www.iocbc.com or upon request); and the contents of the Risk Disclosure Statement in the Schedule to OSPL Standard Trading Terms and Conditions.
2. I declare that any funds and assets I place with OSPL, and any profits that they make, will comply with the tax laws of the countries where I live or which I am citizen of, and any other laws that apply. 3. I confirm that I am opening the account(s) for myself and not on behalf of any other person or entity.
8 Your marketing consent I am aware that by signing up for this product or service, I am also consenting to OSPL and its related corporations (“OCBC Group”), their agents, and their authorised service providers collecting, using and disclosing my personal data, and sharing such personal data with their business partners, for marketing and promotional purposes, including the purposes described as “Additional Purposes” in the OSPL Data Protection Policy, available at www.iocbc.com or upon request. I may withdraw such consent at any time by completing the Withdrawal of Consent form. This form may be obtained from my Trading Representative or your Customer Service Officers. I acknowledge that my consent herein supersedes any previous withdrawal of such consent. In addition, please also contact me via SMS, Telephone call and other phone number-based messaging about products and services offered by OCBC Group, its business partners and agents, regardless of my registration(s) with the Do Not Call registry.
Important Note 1. Trading in investment products can be very risky, and you may lose all or more than the amount invested or deposited. This is particularly so for Excluded Investment Products when you need to (i) make your own trading decisions and (ii) ensure each trade is specifically suitable for you. 2. You can, if you are a Retail Singapore Customer (as described in the Guide and Cautionary Notes) with an Account with OSPL, at any time request for advice concerning a Specified Investment Product offered by OSPL. Please contact your broker (trading representative) if you wish to request for such advice.
Signature of applicant
Signature of Verifying Officer
SIGN HERE
/
/
DD/MM/YY
/
/
Notes: 1. Securities as defined in Securities and Futures Act (Cap. 289), means: any debentures or stocks issued or proposed to be issued by a government; any debentures, stocks or shares corporation or body unincorporate; any right, option or derivative in respect of any such debentures, stocks or shares; any unit in a collective investment scheme; any unit or derivative of a unit in a business trust. 2. Tax residency is defined by each country’s local tax laws. This may be dependent on factors including, but not limited to, nationality, physical presence, employment and place of abode. Guidance on tax residency is also available at the following link: https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-residency/ 3. Definition of ‘U.S. Tax Resident’ − A citizen or permanent resident of the United States (e.g. US Green Card holder or someone who meets the requirements to be considered a resident under the ‘substantial presence test’); or − Any other person that is not a foreign person (as defined under US federal tax law). 4. Government issued document may include any documents issued by the local law for the purposes of identification and may vary for different jurisdictions. This may include driving license, employment /residence pass and birth certificate.
Co.Reg.No:196600262R
Date
DD/MM/YY
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Date
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Co.Reg.No:196600262R
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Guide And Cautionary Notes In Applying For/Continuing With An Account With OCBC Securities – “Guide” Many thanks for your interest in opening an account with OCBC Securities. We provide this Guide and Cautionary Notes in the interest of transparency and fair dealing with you. It is designed to assist you in: (i) understanding the types of services we offer; and their respective limits; and (ii) with that understanding, deciding on whether to use, and if so, which of our service or services to use. While there are common terms governing all of our services – as you will note from a study of our general terms for conduct of our businesses - the terms specific to each service will vary. Who Are We And What Services Can We Provide? We are the holder of a capital markets services license (“CMS license”) under the Securities and Futures Act of Singapore (the “SFA”) for the carrying out of the following activities regulated under the SFA: • • • • •
Dealing in Securities Trading in Futures Contract Leveraged Foreign Exchange Securities Financing Providing Custodial Services for Securities
Because we hold a CMS license for the regulated activities set out above, we are also entitled to be, and are, registered as an exempt financial adviser (“EFA”) under the Financial Advisers Act of Singapore (the “FAA”) for the carrying out of financial advisory services as defined under the FAA or its regulations. What Services Are Available To You From Us? We provide basically three levels of service: (i) execution only; (ii) dealing with execution related advice (“ERA”); and (iii) dealing with advice under a formal advisory agreement (“Paid Advice”). ERA is specifically defined by our regulators as advice or recommendation that we provide (with) no additional payment (made to us) apart from any fee that we may earn from your actual dealing (i.e. buying/selling) in investment products with or through us. We refer to such advice or recommendation as free advice or recommendation. Types of Services for Excluded Investment Product and Specified Investment Products 1. Excluded Investment Products 1.1 What is the service available for Excluded Investment Products? For dealings in Excluded Investment Products (“EIP”) the only levels of service available from us are (i) execution only; and (ii) dealing with Paid Advice. Neither we nor any of our representatives will or will be providing dealing with ERA. Except if you are receiving advice which you are paying for under the terms of an express advisory agreement with us – ie. Paid Advice, we are not willing and will not provide you with anything in relation to EIPs that you may regard or rely on as being advice or recommendation intended for you to rely or act on. We or our representatives may still from time to time comment or give opinions and suggestions or otherwise make statements in relation to EIPs. HOWEVER – as you will also note from a study of our disclaimers in relation to EIPs - you MUST assume and accept ALL such statements as being no more than our respective expressions of opinions honestly held; or statements of fact honestly believed not to be inaccurate or misleading. This is particularly so for responses off the cuff to any questions you may ask orally or via electronic communications to us or our representatives. No reliance on such supposed statements, even if given in language indicating them to be recommendations or advice, should or can be made by you to make any trading or investment decision without you first independently satisfying yourself of the correctness and suitability of such supposed statements, recommendations or advice. 1.2 What are Excluded Investment Products? EIPs are limited to securities (and options on such securities) that are listed for trading on an approved securities exchange in Singapore and not specifically specified by such securities exchange to be a Specified Investment Product. List of EIPs : Shares/Fully Paid Depository Receipts representing shares/Subscription rights pursuant to rights issues/Company warrants/Units in Business Trusts/ Units in Real Estate Investment Trusts/Debentures (other than asset-backed securities & structured notes)/Exchange traded funds that are classified as EIPs. EIPs1 are less complex products which are already established in the market and are generally well understood by retail investors. As such we will provide you our services on a purely execution only dealing services in relation to EIPs. For our services in relation to EIPs, except for Paid Advice, we therefore assume and materially rely on you being agreeable and willing to generally accept sole responsibility for determining the merits or suitability of any and all transactions that you may enter into with respect to any and all EIPs. If you are not agreeable and willing, you should and must not apply for an account for dealing in EIPs with us. If you have such an account you must take steps to close that account. The only exception to our execution only services for EIP is dealing with Paid Advice. For this you must have entered into a formal agreement with us defining both the circumstances when we will provide or be deemed to be providing you advice or recommendations in relation to EIPs; and our charges for the giving of such advice or recommendation(s). 2. Specified Investment Products 2.1 What is the service available for Specified Investment Products? For dealings in Specified Investment Products (“SIPs”), all three levels of services are (depending on your circumstances and the circumstances of your particular transacting in SIPs) available options but only if you are not any of the following: I. An accredited or expert investor as defined below; II. Resident outside of Singapore, who is not a Singapore citizen or permanent resident of Singapore; and not wholly or partly dependent on a Singapore citizen or a permanent resident of Singapore.
SIPs are (for the purposes of our dealing services available to you as a CMS license holder) capital markets products that are not EIPs. SIPs are then further divided into three general types – (a) those listed solely on a securities or futures exchange outside of Singapore; (b) those listed on a securities or futures exchange in Singapore; and (c) those that are not listed on any securities or futures exchange. A general guide on SIPs is available on the MAS website www.mas.gov.sg. See MAS press release on 28 July 2011 titled MAS Requires Intermediaries to Assess Investment Knowledge and Experience of Retail Customers.
1
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2.2 What are Specified Investment Products?
Co.Reg.No:196600262R
If you fall within I and/or II then, our services are (as with EIPs generally) limited to execution only services; and/or dealing with Paid Advice only. If you do not fall within either I or II and you are a natural person, then you will be regarded as a Retail Singapore Investor. Please see overleaf under the heading of “Retail Singapore Investors” for the services that we will offer you.
Retail Singapore Investors Depending on whether a Retail Singapore Investor wishes to deal in listed or unlisted SIPs, he will first need to pass respectively a Customer Account Review (“CAR”) and/or a Customer Knowledge Assessment (“CKA”) before he may be permitted to begin or continue trading in the relevant SIP. Therefore, unless we had expressly agreed otherwise in your case, you must have had passed either the CAR and/or CKA with us before you can begin or continue trading in the relevant SIP. In such a case you would also have been provided with a Client Investment profile questionnaire (the “CIP”) together with our request that you properly complete that CIP and return the properly completed CIP to us. CIP Response As you had passed the CAR and/or CKA as applicable, you are actually regarded as competent to understand the nature and risks of the SIP products you will be dealing or continue to deal in. As such, you are also assumed by us to be able to make your own decisions and judgements as to the merits or suitability for you to do any trade or investment in such SIP products. You therefore need not but may (and we do suggest you seriously consider) properly complete and return to us the CIP. Where you do not complete and/or return the CIP to us, as notified in the CIP provided to you, you must note, agree and accept as conditions to your being allowed to trade or continue to trade in the relevant SIPs that: A. we are in no position to ensure that any free advice or recommendation that may be provided to you by us are specifically suitable for you bearing in mind your specific financial position, attitude and capacity to take financial risks and financial objective trading in the SIPs that you will be trading in; and therefore. B. Any and all free advice or recommendation you receive from us will not be based on, nor take into consideration, your specific investment objectives, financial situation or needs; and C. You must assess for yourself whether any of our free advice or recommendation as may be provided to you is specifically of merit and appropriate or suitable to your individual investment objectives, financial situation or particular needs. In particular, the mere fact that our advice or recommendation is to buy or sell or hold any SIP does not necessarily mean, and must not be taken to mean, that the recommendation is suitable for you and you should therefore either make your own assessment (if you are able) or (if you cannot properly or reasonably make your own assessment) consult with your own financial adviser before acting on any such free advice or recommendation. You should do this before you make any decision on the basis of any free advice or recommendation we may provide to you. Where you properly complete and return the CIP to us, then we will ensure that such free advice or recommendation that may be provided to you by us from time to time will be reasonably consistent with the information you provide in the CIP with regards to your suitability; but it remains your choice to choose whether you wish to follow or not. Where you choose not to follow the advice or recommendation we will assume that you have made your own informed determination not to follow the advice or recommendation and instead are accepting sole responsibility for determining the merits or suitability of any and all transactions that you may enter into contrary to the advice or recommendation given to you. Generally Circulating Materials and Resources Warning Please also note that regardless of whether you properly complete and return the CIP to us, you may be provided or given access to resources or materials that are intended to be for general circulation. The materials intended for general circulation will have an express notice accompanying the materials to that effect. Such resources and materials are provided with the sole aim of enabling you to manage and control your own investments and this means also that you need to be able and willing to accept sole responsibility for ensuring the merits and suitability of any and all investments that you may make with or through us before making any investment or effecting any transaction with or through us. None of the advice or recommendation appearing in such generally-circulated materials and resources should be taken by you as intended for you specifically to rely on. They are provided expressly subject to the exemption notice and disclaimer against such effect accompanying the materials. Accredited And Expert Investor And Non-Resident Exemption Notice: Please be reminded as noted above that, under the FAA, we are expressly exempted from assuming and will not assume (short of an express and formal agreement otherwise) any suitability obligation or any obligation to provide product information to any person who is either an accredited investor or an expert investor or a resident outside of Singapore and who is not a Singapore Citizen or Singapore Permanent Resident, and not wholly or partly dependent upon a Singapore Citizen or Singapore Permanent Resident. For convenience of reference, we set out below the relevant definition of “accredited investor” and “expert investor” respectively.
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(b) “Expert Investor” means — (i) a person whose business involves the acquisition and disposal, or the holding, of capital markets products, whether as principal or agent; (ii) the trustee of such trust as the Authority may prescribe, when acting in that capacity; or (iii) such other person as the Authority may prescribe.
Co.Reg.No:196600262R
Definitions of “Accredited Investor” and “Expert Investor”. (a) “Accredited Investor” means — (i) an individual — (A) whose net personal assets exceed in value $2 million (or its equivalent in a foreign currency) or such other amount as the Monetary Authority of Singapore (“MAS”) may prescribe in place of the first amount; or (B) whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency) or such other amount as the MAS may prescribe in place of the first amount; (ii) a corporation with net assets exceeding $10 million in value (or its equivalent in a foreign currency) or such other amount as the MAS may prescribe, in place of the first amount, as determined by — (A) the most recent audited balance-sheet of the corporation; or (B) where the corporation is not required to prepare audited accounts regularly, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance-sheet, which date shall be within the preceding 12 months; (iii) the trustee of such trust as the MAS may prescribe, when acting in that capacity; or (iv) such other person as the MAS may prescribe, who are at present (by virtue of the Securities And Futures (Prescribed Specific Classes of Investors) Regulations 2005): (A) the trustee of a trust of which all property and rights of any kind whatsoever held on trust for the beneficiaries of the trust exceed $10 million in value (or its equivalent in a foreign currency); (B) an entity (other than a corporation) with net assets exceeding $10 million in value (or its equivalent in a foreign currency); (C) a partnership (other than a limited liability partnership within the meaning of the Limited Liability Partnerships Act 2005 (Act 5 of 2005)) in which each partner is an accredited investor; (D) a corporation, the sole business of which is to hold investments and the entire share capital of which is owned by one or more persons, each of whom is an accredited investor.
Declaration and Agreement General In consideration of OCBC Securities Private Limited (“OSPL”) processing my application to open any account and/or for any facilities or services in my name as requested in this application, I hereby declare, warrant and agree:(a) I confirm that all the information I have provided is true, accurate and complete and I have not withheld any information. I undertake to keep OSPL informed in writing, within 30 days, of any changes in circumstances that may cause any of the information in this application to become incorrect or incomplete and also undertake to provide any other additional information as may be required by OSPL and/or applicable law; (b) that I understand, accept and agree to the terms and conditions set out in this application and in the OSPL Standard Trading Terms and Conditions (as such terms and conditions may be amended from time to time); (c) to the disclosure by OSPL and/or any officer or agent of OSPL at any time and from time to time of any and all information (including all particulars or transactions) in respect of any of my account(s) opened or maintained with OSPL to any person and for any purpose described in the clauses under paragraph 24 of the OSPL Standard Trading Terms and Conditions; (d) (i) (where personal data relating to me is or will be collected (including by way of recorded voice calls), used or disclosed by OSPL and its related corporations (collectively, the “OCBC Group”) and/or their respective business partners and agents (collectively, the ”OCBC Representative”)) that I further agree and consent to the terms of OSPL’s Data Protection Policy, available at https://portal.iocbc.com/help-and-support/Policies.html or upon request; (ii) (where personal data relating to any of the Individuals (as defined herein) is or will be collected (including by way of recorded voice calls), used or disclosed by the OCBC Group and/or the OCBC Representative) that I confirm that with respect to any personal data of individuals (the “Individuals”) disclosed to the OCBC Group and/or the OCBC Representatives, the Individuals to whom the personal data relates to have agreed and consented to the terms of OSPL’s Data Protection Policy, available at https://portal.iocbc.com/help-and-support/Policies.html or upon request; (e) I further agree and consent to the terms of OSPL’s (I) FATCA Policy and (II) CRS Policy, available at https://portal.iocbc.com/help-and-support/Policies.html or upon request, which may require the reporting of information supplied by me to relevant tax authorities. (f) that I shall supply any additional information and documentary proof and place a deposit on the value of the shares to be purchased as OSPL may require in connection with the processing of this application and the opening, operation and maintenance of any account or facility or service established with OSPL; (g) that I will execute all documents and instruments (including any security documents) and do all acts and things as may be required by OSPL in connection with the processing of this application and the opening, operation and maintenance of any account or facility or service established with OSPL; (h) (where there is more than one applicant) to be jointly and severally liable and responsible for all payments and obligations arising from our joint account(s) and facilities with OSPL; (i) (where I am a Malaysian tax resident1) that I have read, fully understood, and am in full compliance with the Bank Negara Malaysia Foreign Exchange Administration Rules on Investment in Foreign Currency Assets and any other relevant regulation that may regulate the movement of the Ringgit for Malaysian Residents as stipulated by Bank Negara Malaysia and/or the relevant authorities in Malaysia, and will keep myself updated on any changes and/or additions to, and will ensure that I am in full compliance with, such regulations at all times, and confirm that OSPL is not required to re-confirm my compliance each time I request for conversion of proceeds or settlements involving Ringgit to such other currency. Full details of Bank Negara Malaysia FEA rules could be found at www.bnm.gov.my. I will take all necessary actions to ensure that the necessary approvals are obtained and registrations are filed as required by Bank Negara Malaysia and/or the relevant authorities of Malaysia; (j) (where I am a Australian tax resident1) that I have read, fully understood, and am in full compliance with the rules and guidelines on Australian Residency Status for Tax purposes, and will keep myself updated on any changes to, and will ensure that I am in full compliance with, the rules and guidelines on Australian Residency Status for Tax Purposes at all times. The rules and guidelines can be found in the Australian Taxation Office website at http://www.ato.gov.au/; (k) that I understand that OSPL has the right not to approve this application at its absolute discretion. I understand that in the event that my application is rejected, OSPL is not under any obligation whatsoever to render me any reason or explanation; (l) that I agree to abide by the prevailing rules, regulations and other directions of Singapore Exchange Limited and its subsidiaries (including Singapore Exchange Securities Trading Limited and/or the Singapore Exchange Derivatives Trading Limited) (collectively “SGX”) or any regulatory body or exchange (whether in or outside Singapore) which may be applicable to me and/or my transactions. I understand that OSPL is required under the prevailing SGX rules and regulations to report all delinquent and disputed accounts to SGX. I hereby authorise OSPL to disclose to the SGX all such information which may be required by SGX in the event my account is classified as delinquent or disputed under the SGX rules and/or regulations; (m) that my trading representative (“TR”) may be utilizing OSPL’s Electronic Broking Facilities, whereby my orders may be effected electronically, inter alia, outside the premises of OSPL (the “Facility”). I agree and confirm that my TR(s) is allowed to effect my orders via the Facility and where my TR(s) utilizes the Facility, I acknowledge and accept the risk that, as with all electronic facilities and systems, the Facility may be vulnerable to system disruption or failure which may affect my TR’s service level or result in possible delays in trade processing and/or outages (the “Limitation”). Without prejudice to such other rights OSPL may have (including without limitation OSPL’s rights under the OSPL Standard Trading Terms and Conditions), I agree that OSPL shall have no liability to me for any claims, losses, liabilities, expenses or damages incurred or suffered by me or any other party (whether directly or indirectly) as a result of or ancillary to the Limitation and/or the Facility;
(p) (for application of Equities Plus Account) that I understand, accept and agree to the OSPL Terms and Conditions Governing Equities Plus Account. (A copy of OSPL Terms and Conditions Governing Equities Plus Account is available at www.iocbc.com or upon request.); (q) (for application of Interbank GIRO) that I agree to be bound by the Terms and Conditions Relating to Interbank GIRO; and (r) (for application of Electronic Payment for Shares) that I agree to be bound by the Terms and Conditions Governing Electronic Payment for Shares. (A copy of the Terms and Conditions Governing Electronic Payment for Shares is available at www.iocbc.com or upon request.) Note: 1. Tax residency is defined by each country’s local tax laws. This may be dependent on factors including, but not limited to, nationality, physical presence, employment and place of abode. Guidance on tax residency is also available at the following link: https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-residency/
v.Jun 2017
(o) (for application of Sub Account) that I understand, accept and agree to the Terms and Conditions Governing Sub Account with OSPL (as the Depository Agent) (A copy of the Terms and Conditions Governing the Sub Account is available at www.iocbc.com or upon request.);
Co.Reg.No:196600262R
(n) that I am fully aware of the risks involved (including without limitation the risk of unauthorised trading and the risk of my account(s) and/or moneys being lost, misappropriated or otherwise mishandled by my TR) in the event that I choose to or continue to use “care-of” address, “P.O. Box” address or TR’s address as provided by me as my mailing address (the “Risks”) in relation to any of my accounts opened and maintained with OSPL (whether jointly or otherwise). As such, if I choose to or continue to use “care-of” address, “P.O. Box” address or TR’s address as provided by me as my mailing address, I agree and confirm that OSPL has the absolute discretion (from time to time) not to allow any documents, notes, forms or notices (including without limitation contract notes and statements) in relation to any of my accounts opened and maintained with OSPL (whether jointly or otherwise) (the “Relevant Documents”) to be sent to such “care-of” address, “P.O. Box” address or TR’s address and in such a case, it is my duty to promptly provide OSPL with my proper residential address as the mailing address in order for OSPL to send the Relevant Documents to me. OSPL shall not be held responsible or liable for any actions, proceedings, liabilities, claims, demands, losses, damages, charges, costs and expenses incurred or suffered by me or any other parties by reason of or otherwise in connection with or arising in any way whatsoever out of my failure or delay in providing a proper residential address as my mailing address. Notwithstanding anything to the contrary, even if OSPL (in its absolute discretion) allows the Relevant Documents to be sent to the “care-of” address, “P.O. Box” address or TR’s address as provided by me or if I so choose or insist to have the Relevant Documents sent to the “care-of” address, “P.O. Box” address or TR’s address as provided by me, I authorise OSPL to send the Relevant Documents to such “care-of” address, “P.O. Box” address or TR’s address as provided by me and I acknowledge and confirm that I am fully aware of the Risks and I shall not hold OSPL responsible or liable to me in anyway whatsoever for any actions, proceedings, liabilities, claims, demands, losses, damages, charges, costs and expenses incurred or suffered by me or any other parties by reason of or otherwise in connection with or arising in any way whatsoever out of OSPL sending any Relevant Documents to the “care-of” address, “P.O. Box” address or TR’s address as provided by me. Further, I irrevocably and unconditionally agree at all times to fully indemnify and save harmless OSPL from and against any and all actions, proceedings, liabilities, claims, demands, losses, damages, charges, costs and expenses (including legal expenses on full indemnity basis) of whatever nature which OSPL may at any time and from time to time sustain, incur or suffer by reason of or otherwise in connection with or arising in any way whatsoever out of OSPL sending any Relevant Documents to the “care-of” address, “P.O. Box” address or TR’s address as provided by me;
v.Jun 2017
Co.Reg.No:196600262R
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Risk warning statement Please acknowledge on page 2
Name of account holder as in our records
NRIC/Passport no.
Mobile no.
Trading account no.
(
)
RISK WARNING STATEMENT OVERSEAS-LISTED INVESTMENT PRODUCTS RISK WARNING An overseas-listed investment product* is subject to the laws and regulations of the jurisdiction it is listed in. Before you trade in an overseas-listed investment product or authorise someone else to trade for you, you should be aware of:
The level of investor protection and safeguards that you are afforded in the relevant foreign jurisdiction as the overseas-listed investment product would operate under a different regulatory regime. The differences between the legal systems in the foreign jurisdiction and Singapore that may affect your ability to recover your funds. The tax implications, currency risks, and additional transaction costs that you may have to incur. The counterparty and correspondent broker risks that you are exposed to. The political, economic and social developments that influence the overseas markets you are investing in.
These and other risks may affect the value of your investment. You should not invest in the product if you do not understand or are not comfortable with such risks. * An “overseas-listed investment product” in this statement refers to a capital markets product that is listed for quotation or quoted only on overseas securities exchange(s) or overseas futures exchange(s) (collectively referred to as “overseas exchanges”).
1.
This statement is provided to you in accordance with paragraph 29D of the Notice on the Sale of Investment Products [SFA04-N12].
2.
This statement does not disclose all the risks and other significant aspects of trading in an overseas-listed investment product. You should undertake such transactions only if you understand and are comfortable with the extent of your exposure to the risks.
3.
You should carefully consider whether such trading is suitable for you in light of your experience, objectives, risk appetite, financial resources and other relevant circumstances. In considering whether to trade or to authorise someone else to trade for you, you should be aware of the following:
a)
Overseas markets may be subject to different regulations, and may operate differently from approved exchanges in Singapore. For example, there may be different rules providing for the safekeeping of securities and monies held by custodian banks or depositories. This may affect the level of safeguards in place to ensure proper segregation and safekeeping of your investment products or monies held overseas. There is also the risk of your investment products or monies not being protected if the custodian has credit problems or fails. Overseas markets may also have different periods for clearing and settling transactions. These may affect the information available to you regarding transaction prices and the time you have to settle your trade on such overseas markets.
b)
Overseas markets may be subject to rules which may offer different investor protection as compared to Singapore. Before you start to trade, you should be fully aware of the types of redress available to you in Singapore and other relevant jurisdictions, if any.
c)
Overseas-listed investment products may not be subject to the same disclosure standards that apply to investment products listed for quotation or quoted on an approved exchange in Singapore. Where disclosure is made, differences in accounting, auditing and financial reporting standards may also affect the quality and comparability of information provided. It may also be more difficult to locate up-to-date information, and the information published may only be available in a foreign language.
v.Jan 2015 Co. Reg. No. 196600262R
Differences in Regulatory Regimes
Differences in legal systems d)
In some countries, legal concepts which are practiced in mature legal systems may not be in place or may have yet to be tested in courts. This would make it more difficult to predict with a degree of certainty the outcome of judicial proceedings or even the quantum of damages which may be awarded following a successful claim.
e)
The Monetary Authority of Singapore will be unable to compel the enforcement of the rules of the regulatory authorities or markets in other jurisdictions where your transactions will be effected.
f)
The laws of some jurisdictions may prohibit or restrict the repatriation of funds from such jurisdictions including capital, divestment proceeds, profits, dividends and interest arising from investment in such countries. Therefore, there is no guarantee that the funds you have invested and the funds arising from your investment will be capable of being remitted.
g)
Some jurisdictions may also restrict the amount or type of investment products that foreign investors may trade. This can affect the liquidity and prices of the overseas-listed investment products that you invest in.
Different costs involved h)
There may be tax implications of investing in an overseas-listed investment product. For example, sale proceeds or the receipt of any dividends and other income may be subject to tax levies, duties or charges in the foreign country, in Singapore, or in both countries.
i)
Your investment return on foreign currency-denominated investment products will be affected by exchange rate fluctuations where there is a need to convert from the currency of denomination of the investment products to another currency, or may be affected by exchange controls.
j)
You may have to pay additional costs such as fees and broker’s commissions for transactions in overseas exchanges. In some jurisdictions, you may also have to pay a premium to trade certain listed investment products. Therefore, before you begin to trade, you should obtain a clear explanation of all commissions, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss.
Counterparty and correspondent broker risks k)
Transactions on overseas exchanges or overseas markets are generally effected by your Singapore broker through the use of foreign brokers who have trading and/or clearing rights on those exchanges. All transactions that are executed upon your instructions with such counterparties and correspondent brokers are dependent on their respective due performance of their obligations. The insolvency or default of such counterparties and correspondent brokers may lead to positions being liquidated or closed out without your consent and/or may result in difficulties in recovering your monies and assets held overseas.
Political, Economic and Social Developments l)
Overseas markets are influenced by the political, economic and social developments in the foreign jurisdiction, which may be uncertain and may increase the risk of investing in overseas-listed investment products.
ACKNOWLEDGEMENT OF RECEIPT OF THIS RISK WARNING STATEMENT I acknowledge that I have received a copy of the Risk Warning Statement and understand its contents. Signature of verifying officer
Signature of client / date
For official use (ASD)
Done by:
Date: (yyyy)
Checked by: (dd)
/
(mm)
/
Remark(s):
Date: (yyyy)
(dd)
/
(mm)
/
v.Jan 2015 Co. Reg. No. 196600262R
sign here
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8 1
OCBC SECURITIES PTE LTD
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8
Form
Trading a/c no.: _____________________ Identification no.: ____________________ Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals)
W-8BEN
(Rev. July 2017)
OMB No. 1545-1621
a For use by individuals. Entities must use Form W-8BEN-E. Go to www.irs.gov/FormW8BEN for instructions and the latest information. a Give this form to the withholding agent or payer. Do not send to the IRS.
a
Department of the Treasury Internal Revenue Service
Do NOT use this form if: • You are NOT an individual
Instead, use Form: .
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• You are a beneficial owner claiming that income is effectively connected with the conduct of trade or business within the U.S. (other than personal services) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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. W-8ECI
• You are a U.S. citizen or other U.S. person, including a resident alien individual
• You are a beneficial owner who is receiving compensation for personal services performed in the United States .
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• You are a person acting as an intermediary
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8233 or W-4 .
. W-8IMY
Note: If you are resident in a FATCA partner jurisdiction (i.e., a Model 1 IGA jurisdiction with reciprocity), certain tax account information may be provided to your jurisdiction of residence.
Part I
Identification of Beneficial Owner (see instructions)
1
Name of individual who is the beneficial owner
2
Country of citizenship
3
Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address. City or town, state or province. Include postal code where appropriate.
4
Country
Mailing address (if different from above) City or town, state or province. Include postal code where appropriate.
5
U.S. taxpayer identification number (SSN or ITIN), if required (see instructions)
7
Reference number(s) (see instructions)
Part II 9 10
8
Country 6
Foreign tax identifying number (see instructions)
Date of birth (MM-DD-YYYY) (see instructions)
Claim of Tax Treaty Benefits (for chapter 3 purposes only) (see instructions)
I certify that the beneficial owner is a resident of
within the meaning of the income tax treaty between the United States and that country. Special rates and conditions (if applicable—see instructions): The beneficial owner is claiming the provisions of Article and paragraph of the treaty identified on line 9 above to claim a % rate of withholding on (specify type of income): . Explain the additional conditions in the Article and paragraph the beneficial owner meets to be eligible for the rate of withholding:
Part III
Certification
Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief it is true, correct, and complete. I further certify under penalties of perjury that: •
I am the individual that is the beneficial owner (or am authorized to sign for the individual that is the beneficial owner) of all the income to which this form relates or am using this form to document myself for chapter 4 purposes,
•
The person named on line 1 of this form is not a U.S. person,
•
The income to which this form relates is: (a) not effectively connected with the conduct of a trade or business in the United States, (b) effectively connected but is not subject to tax under an applicable income tax treaty, or (c) the partner’s share of a partnership's effectively connected income,
•
The person named on line 1 of this form is a resident of the treaty country listed on line 9 of the form (if any) within the meaning of the income tax treaty between the United States and that country, and
•
For broker transactions or barter exchanges, the beneficial owner is an exempt foreign person as defined in the instructions. Furthermore, I authorize this form to be provided to any withholding agent that has control, receipt, or custody of the income of which I am the beneficial owner or any withholding agent that can disburse or make payments of the income of which I am the beneficial owner. I agree that I will submit a new form within 30 days if any certification made on this form becomes incorrect.
F
Sign Here
Signature of beneficial owner (or individual authorized to sign for beneficial owner)
Print name of signer
For Paperwork Reduction Act Notice, see separate instructions.
Date (MM-DD-YYYY)
Capacity in which acting (if form is not signed by beneficial owner) Cat. No. 25047Z
Form
W-8BEN
(Rev. 7-2017)
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W-9
Form (Rev. December 2014) Department of the Treasury Internal Revenue Service
Trading account no. ________________ Identification no. ___________________
Request for Taxpayer Identification Number and Certification
Give Form to the requester. Do not send to the IRS.
Print or type See Specific Instructions on page 2.
1 Name (as shown on your income tax return). Name is required on this line; do not leave this line blank.
2 Business name/disregarded entity name, if different from above
3 Check appropriate box for federal tax classification; check only one of the following seven boxes: C Corporation S Corporation Partnership Trust/estate Individual/sole proprietor or single-member LLC Limited liability company. Enter the tax classification (C=C corporation, S=S corporation, P=partnership) a Note. For a single-member LLC that is disregarded, do not check LLC; check the appropriate box in the line above for the tax classification of the single-member owner.
4 Exemptions (codes apply only to certain entities, not individuals; see instructions on page 3): Exempt payee code (if any) Exemption from FATCA reporting code (if any) (Applies to accounts maintained outside the U.S.)
Other (see instructions) a 5 Address (number, street, and apt. or suite no.)
Requester’s name and address (optional)
6 City, state, and ZIP code
7 List account number(s) here (optional)
Part I
Taxpayer Identification Number (TIN)
Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For other entities, it is your employer identification number (EIN). If you do not have a number, see How to get a TIN on page 3. Note. If the account is in more than one name, see the instructions for line 1 and the chart on page 4 for guidelines on whose number to enter.
Social security number
–
–
or Employer identification number
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Part II
Certification
Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and 2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding; and 3. I am a U.S. citizen or other U.S. person (defined below); and 4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct. Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. See the instructions on page 3.
Sign Here
Signature of U.S. person a
Date a
General Instructions
• Form 1098 (home mortgage interest), 1098-E (student loan interest), 1098-T (tuition)
Section references are to the Internal Revenue Code unless otherwise noted.
• Form 1099-C (canceled debt)
Future developments. Information about developments affecting Form W-9 (such as legislation enacted after we release it) is at www.irs.gov/fw9.
• Form 1099-A (acquisition or abandonment of secured property) Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN.
Purpose of Form An individual or entity (Form W-9 requester) who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) which may be your social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return. Examples of information returns include, but are not limited to, the following:
If you do not return Form W-9 to the requester with a TIN, you might be subject to backup withholding. See What is backup withholding? on page 2.
• Form 1099-INT (interest earned or paid)
3. Claim exemption from backup withholding if you are a U.S. exempt payee. If applicable, you are also certifying that as a U.S. person, your allocable share of any partnership income from a U.S. trade or business is not subject to the withholding tax on foreign partners' share of effectively connected income, and
• Form 1099-DIV (dividends, including those from stocks or mutual funds) • Form 1099-MISC (various types of income, prizes, awards, or gross proceeds) • Form 1099-B (stock or mutual fund sales and certain other transactions by brokers) • Form 1099-S (proceeds from real estate transactions)
By signing the filled-out form, you: 1. Certify that the TIN you are giving is correct (or you are waiting for a number to be issued), 2. Certify that you are not subject to backup withholding, or
4. Certify that FATCA code(s) entered on this form (if any) indicating that you are exempt from the FATCA reporting, is correct. See What is FATCA reporting? on page 2 for further information.
• Form 1099-K (merchant card and third party network transactions) Cat. No. 10231X
Form W-9 (Rev. 12-2014)
Page 2
Form W-9 (Rev. 12-2014) Note. If you are a U.S. person and a requester gives you a form other than Form W-9 to request your TIN, you must use the requester’s form if it is substantially similar to this Form W-9. Definition of a U.S. person. For federal tax purposes, you are considered a U.S. person if you are: • An individual who is a U.S. citizen or U.S. resident alien; • A partnership, corporation, company, or association created or organized in the United States or under the laws of the United States; • An estate (other than a foreign estate); or • A domestic trust (as defined in Regulations section 301.7701-7). Special rules for partnerships. Partnerships that conduct a trade or business in the United States are generally required to pay a withholding tax under section 1446 on any foreign partners’ share of effectively connected taxable income from such business. Further, in certain cases where a Form W-9 has not been received, the rules under section 1446 require a partnership to presume that a partner is a foreign person, and pay the section 1446 withholding tax. Therefore, if you are a U.S. person that is a partner in a partnership conducting a trade or business in the United States, provide Form W-9 to the partnership to establish your U.S. status and avoid section 1446 withholding on your share of partnership income. In the cases below, the following person must give Form W-9 to the partnership for purposes of establishing its U.S. status and avoiding withholding on its allocable share of net income from the partnership conducting a trade or business in the United States: • In the case of a disregarded entity with a U.S. owner, the U.S. owner of the disregarded entity and not the entity; • In the case of a grantor trust with a U.S. grantor or other U.S. owner, generally, the U.S. grantor or other U.S. owner of the grantor trust and not the trust; and • In the case of a U.S. trust (other than a grantor trust), the U.S. trust (other than a grantor trust) and not the beneficiaries of the trust. Foreign person. If you are a foreign person or the U.S. branch of a foreign bank that has elected to be treated as a U.S. person, do not use Form W-9. Instead, use the appropriate Form W-8 or Form 8233 (see Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities). Nonresident alien who becomes a resident alien. Generally, only a nonresident alien individual may use the terms of a tax treaty to reduce or eliminate U.S. tax on certain types of income. However, most tax treaties contain a provision known as a “saving clause.” Exceptions specified in the saving clause may permit an exemption from tax to continue for certain types of income even after the payee has otherwise become a U.S. resident alien for tax purposes. If you are a U.S. resident alien who is relying on an exception contained in the saving clause of a tax treaty to claim an exemption from U.S. tax on certain types of income, you must attach a statement to Form W-9 that specifies the following five items: 1. The treaty country. Generally, this must be the same treaty under which you claimed exemption from tax as a nonresident alien. 2. The treaty article addressing the income. 3. The article number (or location) in the tax treaty that contains the saving clause and its exceptions. 4. The type and amount of income that qualifies for the exemption from tax. 5. Sufficient facts to justify the exemption from tax under the terms of the treaty article. Example. Article 20 of the U.S.-China income tax treaty allows an exemption from tax for scholarship income received by a Chinese student temporarily present in the United States. Under U.S. law, this student will become a resident alien for tax purposes if his or her stay in the United States exceeds 5 calendar years. However, paragraph 2 of the first Protocol to the U.S.-China treaty (dated April 30, 1984) allows the provisions of Article 20 to continue to apply even after the Chinese student becomes a resident alien of the United States. A Chinese student who qualifies for this exception (under paragraph 2 of the first protocol) and is relying on this exception to claim an exemption from tax on his or her scholarship or fellowship income would attach to Form W-9 a statement that includes the information described above to support that exemption. If you are a nonresident alien or a foreign entity, give the requester the appropriate completed Form W-8 or Form 8233.
Backup Withholding What is backup withholding? Persons making certain payments to you must under certain conditions withhold and pay to the IRS 28% of such payments. This is called “backup withholding.” Payments that may be subject to backup withholding include interest, tax-exempt interest, dividends, broker and barter exchange transactions, rents, royalties, nonemployee pay, payments made in settlement of payment card and third party network transactions, and certain payments from fishing boat operators. Real estate transactions are not subject to backup withholding. You will not be subject to backup withholding on payments you receive if you give the requester your correct TIN, make the proper certifications, and report all your taxable interest and dividends on your tax return. Payments you receive will be subject to backup withholding if: 1. You do not furnish your TIN to the requester, 2. You do not certify your TIN when required (see the Part II instructions on page 3 for details),
3. The IRS tells the requester that you furnished an incorrect TIN, 4. The IRS tells you that you are subject to backup withholding because you did not report all your interest and dividends on your tax return (for reportable interest and dividends only), or 5. You do not certify to the requester that you are not subject to backup withholding under 4 above (for reportable interest and dividend accounts opened after 1983 only). Certain payees and payments are exempt from backup withholding. See Exempt payee code on page 3 and the separate Instructions for the Requester of Form W-9 for more information. Also see Special rules for partnerships above.
What is FATCA reporting? The Foreign Account Tax Compliance Act (FATCA) requires a participating foreign financial institution to report all United States account holders that are specified United States persons. Certain payees are exempt from FATCA reporting. See Exemption from FATCA reporting code on page 3 and the Instructions for the Requester of Form W-9 for more information.
Updating Your Information You must provide updated information to any person to whom you claimed to be an exempt payee if you are no longer an exempt payee and anticipate receiving reportable payments in the future from this person. For example, you may need to provide updated information if you are a C corporation that elects to be an S corporation, or if you no longer are tax exempt. In addition, you must furnish a new Form W-9 if the name or TIN changes for the account; for example, if the grantor of a grantor trust dies.
Penalties Failure to furnish TIN. If you fail to furnish your correct TIN to a requester, you are subject to a penalty of $50 for each such failure unless your failure is due to reasonable cause and not to willful neglect. Civil penalty for false information with respect to withholding. If you make a false statement with no reasonable basis that results in no backup withholding, you are subject to a $500 penalty. Criminal penalty for falsifying information. Willfully falsifying certifications or affirmations may subject you to criminal penalties including fines and/or imprisonment. Misuse of TINs. If the requester discloses or uses TINs in violation of federal law, the requester may be subject to civil and criminal penalties.
Specific Instructions Line 1 You must enter one of the following on this line; do not leave this line blank. The name should match the name on your tax return. If this Form W-9 is for a joint account, list first, and then circle, the name of the person or entity whose number you entered in Part I of Form W-9. a. Individual. Generally, enter the name shown on your tax return. If you have changed your last name without informing the Social Security Administration (SSA) of the name change, enter your first name, the last name as shown on your social security card, and your new last name. Note. ITIN applicant: Enter your individual name as it was entered on your Form W-7 application, line 1a. This should also be the same as the name you entered on the Form 1040/1040A/1040EZ you filed with your application. b. Sole proprietor or single-member LLC. Enter your individual name as shown on your 1040/1040A/1040EZ on line 1. You may enter your business, trade, or “doing business as” (DBA) name on line 2. c. Partnership, LLC that is not a single-member LLC, C Corporation, or S Corporation. Enter the entity's name as shown on the entity's tax return on line 1 and any business, trade, or DBA name on line 2. d. Other entities. Enter your name as shown on required U.S. federal tax documents on line 1. This name should match the name shown on the charter or other legal document creating the entity. You may enter any business, trade, or DBA name on line 2. e. Disregarded entity. For U.S. federal tax purposes, an entity that is disregarded as an entity separate from its owner is treated as a “disregarded entity.” See Regulations section 301.7701-2(c)(2)(iii). Enter the owner's name on line 1. The name of the entity entered on line 1 should never be a disregarded entity. The name on line 1 should be the name shown on the income tax return on which the income should be reported. For example, if a foreign LLC that is treated as a disregarded entity for U.S. federal tax purposes has a single owner that is a U.S. person, the U.S. owner's name is required to be provided on line 1. If the direct owner of the entity is also a disregarded entity, enter the first owner that is not disregarded for federal tax purposes. Enter the disregarded entity's name on line 2, “Business name/disregarded entity name.” If the owner of the disregarded entity is a foreign person, the owner must complete an appropriate Form W-8 instead of a Form W-9. This is the case even if the foreign person has a U.S. TIN.
Page 3
Form W-9 (Rev. 12-2014)
Line 2
2
If you have a business name, trade name, DBA name, or disregarded entity name, you may enter it on line 2.
Line 3 Check the appropriate box in line 3 for the U.S. federal tax classification of the person whose name is entered on line 1. Check only one box in line 3. Limited Liability Company (LLC). If the name on line 1 is an LLC treated as a partnership for U.S. federal tax purposes, check the “Limited Liability Company” box and enter “P” in the space provided. If the LLC has filed Form 8832 or 2553 to be taxed as a corporation, check the “Limited Liability Company” box and in the space provided enter “C” for C corporation or “S” for S corporation. If it is a single-member LLC that is a disregarded entity, do not check the “Limited Liability Company” box; instead check the first box in line 3 “Individual/sole proprietor or single-member LLC.”
However, the following payments made to a corporation and reportable on Form 1099-MISC are not exempt from backup withholding: medical and health care payments, attorneys' fees, gross proceeds paid to an attorney reportable under section 6045(f), and payments for services paid by a federal executive agency. Exemption from FATCA reporting code. The following codes identify payees that are exempt from reporting under FATCA. These codes apply to persons submitting this form for accounts maintained outside of the United States by certain foreign financial institutions. Therefore, if you are only submitting this form for an account you hold in the United States, you may leave this field blank. Consult with the person requesting this form if you are uncertain if the financial institution is subject to these requirements. A requester may indicate that a code is not required by providing you with a Form W-9 with “Not Applicable” (or any similar indication) written or printed on the line for a FATCA exemption code. A—An organization exempt from tax under section 501(a) or any individual retirement plan as defined in section 7701(a)(37) B—The United States or any of its agencies or instrumentalities
Line 4, Exemptions If you are exempt from backup withholding and/or FATCA reporting, enter in the appropriate space in line 4 any code(s) that may apply to you. Exempt payee code. • Generally, individuals (including sole proprietors) are not exempt from backup withholding. • Except as provided below, corporations are exempt from backup withholding for certain payments, including interest and dividends. • Corporations are not exempt from backup withholding for payments made in settlement of payment card or third party network transactions. • Corporations are not exempt from backup withholding with respect to attorneys' fees or gross proceeds paid to attorneys, and corporations that provide medical or health care services are not exempt with respect to payments reportable on Form 1099-MISC. The following codes identify payees that are exempt from backup withholding. Enter the appropriate code in the space in line 4. 1—An organization exempt from tax under section 501(a), any IRA, or a custodial account under section 403(b)(7) if the account satisfies the requirements of section 401(f)(2) 2—The United States or any of its agencies or instrumentalities 3—A state, the District of Columbia, a U.S. commonwealth or possession, or any of their political subdivisions or instrumentalities 4—A foreign government or any of its political subdivisions, agencies, or instrumentalities 5—A corporation 6—A dealer in securities or commodities required to register in the United States, the District of Columbia, or a U.S. commonwealth or possession 7—A futures commission merchant registered with the Commodity Futures Trading Commission 8—A real estate investment trust 9—An entity registered at all times during the tax year under the Investment Company Act of 1940 10—A common trust fund operated by a bank under section 584(a) 11—A financial institution 12—A middleman known in the investment community as a nominee or custodian 13—A trust exempt from tax under section 664 or described in section 4947 The following chart shows types of payments that may be exempt from backup withholding. The chart applies to the exempt payees listed above, 1 through 13.
C—A state, the District of Columbia, a U.S. commonwealth or possession, or any of their political subdivisions or instrumentalities D—A corporation the stock of which is regularly traded on one or more established securities markets, as described in Regulations section 1.1472-1(c)(1)(i) E—A corporation that is a member of the same expanded affiliated group as a corporation described in Regulations section 1.1472-1(c)(1)(i) F—A dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any state G—A real estate investment trust H—A regulated investment company as defined in section 851 or an entity registered at all times during the tax year under the Investment Company Act of 1940 I—A common trust fund as defined in section 584(a) J—A bank as defined in section 581 K—A broker L—A trust exempt from tax under section 664 or described in section 4947(a)(1) M—A tax exempt trust under a section 403(b) plan or section 457(g) plan Note. You may wish to consult with the financial institution requesting this form to determine whether the FATCA code and/or exempt payee code should be completed.
Line 5 Enter your address (number, street, and apartment or suite number). This is where the requester of this Form W-9 will mail your information returns.
Line 6 Enter your city, state, and ZIP code.
Part I. Taxpayer Identification Number (TIN) Enter your TIN in the appropriate box. If you are a resident alien and you do not have and are not eligible to get an SSN, your TIN is your IRS individual taxpayer identification number (ITIN). Enter it in the social security number box. If you do not have an ITIN, see How to get a TIN below. If you are a sole proprietor and you have an EIN, you may enter either your SSN or EIN. However, the IRS prefers that you use your SSN. If you are a single-member LLC that is disregarded as an entity separate from its owner (see Limited Liability Company (LLC) on this page), enter the owner’s SSN (or EIN, if the owner has one). Do not enter the disregarded entity’s EIN. If the LLC is classified as a corporation or partnership, enter the entity’s EIN.
IF the payment is for . . .
THEN the payment is exempt for . . .
Note. See the chart on page 4 for further clarification of name and TIN combinations.
Interest and dividend payments
All exempt payees except for 7
Broker transactions
Exempt payees 1 through 4 and 6 through 11 and all C corporations. S corporations must not enter an exempt payee code because they are exempt only for sales of noncovered securities acquired prior to 2012.
How to get a TIN. If you do not have a TIN, apply for one immediately. To apply for an SSN, get Form SS-5, Application for a Social Security Card, from your local SSA office or get this form online at www.ssa.gov. You may also get this form by calling 1-800-772-1213. Use Form W-7, Application for IRS Individual Taxpayer Identification Number, to apply for an ITIN, or Form SS-4, Application for Employer Identification Number, to apply for an EIN. You can apply for an EIN online by accessing the IRS website at www.irs.gov/businesses and clicking on Employer Identification Number (EIN) under Starting a Business. You can get Forms W-7 and SS-4 from the IRS by visiting IRS.gov or by calling 1-800-TAX-FORM (1-800-829-3676).
Barter exchange transactions and patronage dividends
Exempt payees 1 through 4
Payments over $600 required to be 1 reported and direct sales over $5,000
Generally, exempt payees 2 1 through 5
Payments made in settlement of payment card or third party network transactions
Exempt payees 1 through 4
1
See Form 1099-MISC, Miscellaneous Income, and its instructions.
If you are asked to complete Form W-9 but do not have a TIN, apply for a TIN and write “Applied For” in the space for the TIN, sign and date the form, and give it to the requester. For interest and dividend payments, and certain payments made with respect to readily tradable instruments, generally you will have 60 days to get a TIN and give it to the requester before you are subject to backup withholding on payments. The 60-day rule does not apply to other types of payments. You will be subject to backup withholding on all such payments until you provide your TIN to the requester. Note. Entering “Applied For” means that you have already applied for a TIN or that you intend to apply for one soon. Caution: A disregarded U.S. entity that has a foreign owner must use the appropriate Form W-8.
Page 4
Form W-9 (Rev. 12-2014)
Part II. Certification
3
To establish to the withholding agent that you are a U.S. person, or resident alien, sign Form W-9. You may be requested to sign by the withholding agent even if items 1, 4, or 5 below indicate otherwise. For a joint account, only the person whose TIN is shown in Part I should sign (when required). In the case of a disregarded entity, the person identified on line 1 must sign. Exempt payees, see Exempt payee code earlier. Signature requirements. Complete the certification as indicated in items 1 through 5 below. 1. Interest, dividend, and barter exchange accounts opened before 1984 and broker accounts considered active during 1983. You must give your correct TIN, but you do not have to sign the certification. 2. Interest, dividend, broker, and barter exchange accounts opened after 1983 and broker accounts considered inactive during 1983. You must sign the certification or backup withholding will apply. If you are subject to backup withholding and you are merely providing your correct TIN to the requester, you must cross out item 2 in the certification before signing the form. 3. Real estate transactions. You must sign the certification. You may cross out item 2 of the certification. 4. Other payments. You must give your correct TIN, but you do not have to sign the certification unless you have been notified that you have previously given an incorrect TIN. “Other payments” include payments made in the course of the requester’s trade or business for rents, royalties, goods (other than bills for merchandise), medical and health care services (including payments to corporations), payments to a nonemployee for services, payments made in settlement of payment card and third party network transactions, payments to certain fishing boat crew members and fishermen, and gross proceeds paid to attorneys (including payments to corporations). 5. Mortgage interest paid by you, acquisition or abandonment of secured property, cancellation of debt, qualified tuition program payments (under section 529), IRA, Coverdell ESA, Archer MSA or HSA contributions or distributions, and pension distributions. You must give your correct TIN, but you do not have to sign the certification.
What Name and Number To Give the Requester For this type of account:
Give name and SSN of:
1. Individual 2. Two or more individuals (joint account)
The individual The actual owner of the account or, if combined funds, the first 1 individual on the account
3. Custodian account of a minor (Uniform Gift to Minors Act)
The minor
4. a. The usual revocable savings trust (grantor is also trustee) b. So-called trust account that is not a legal or valid trust under state law 5. Sole proprietorship or disregarded entity owned by an individual 6. Grantor trust filing under Optional Form 1099 Filing Method 1 (see Regulations section 1.671-4(b)(2)(i) (A))
The grantor-trustee
1
1
The actual owner
The owner
Give name and EIN of: The owner 4
Legal entity
9. Corporation or LLC electing corporate status on Form 8832 or Form 2553 10. Association, club, religious, charitable, educational, or other taxexempt organization
The corporation
11. Partnership or multi-member LLC 12. A broker or registered nominee
The partnership The broker or nominee
13. Account with the Department of Agriculture in the name of a public entity (such as a state or local government, school district, or prison) that receives agricultural program payments
The public entity
14. Grantor trust filing under the Form 1041 Filing Method or the Optional Form 1099 Filing Method 2 (see Regulations section 1.671-4(b)(2)(i) (B))
The trust
1
2
The organization
List first and circle the name of the person whose number you furnish. If only one person on a joint account has an SSN, that person’s number must be furnished. Circle the minor’s name and furnish the minor’s SSN.
4
List first and circle the name of the trust, estate, or pension trust. (Do not furnish the TIN of the personal representative or trustee unless the legal entity itself is not designated in the account title.) Also see Special rules for partnerships on page 2. *Note. Grantor also must provide a Form W-9 to trustee of trust.
Note. If no name is circled when more than one name is listed, the number will be considered to be that of the first name listed.
Secure Your Tax Records from Identity Theft Identity theft occurs when someone uses your personal information such as your name, SSN, or other identifying information, without your permission, to commit fraud or other crimes. An identity thief may use your SSN to get a job or may file a tax return using your SSN to receive a refund. To reduce your risk: • Protect your SSN, • Ensure your employer is protecting your SSN, and • Be careful when choosing a tax preparer. If your tax records are affected by identity theft and you receive a notice from the IRS, respond right away to the name and phone number printed on the IRS notice or letter. If your tax records are not currently affected by identity theft but you think you are at risk due to a lost or stolen purse or wallet, questionable credit card activity or credit report, contact the IRS Identity Theft Hotline at 1-800-908-4490 or submit Form 14039. For more information, see Publication 4535, Identity Theft Prevention and Victim Assistance. Victims of identity theft who are experiencing economic harm or a system problem, or are seeking help in resolving tax problems that have not been resolved through normal channels, may be eligible for Taxpayer Advocate Service (TAS) assistance. You can reach TAS by calling the TAS toll-free case intake line at 1-877-777-4778 or TTY/TDD 1-800-829-4059. Protect yourself from suspicious emails or phishing schemes. Phishing is the creation and use of email and websites designed to mimic legitimate business emails and websites. The most common act is sending an email to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft. The IRS does not initiate contacts with taxpayers via emails. Also, the IRS does not request personal detailed information through email or ask taxpayers for the PIN numbers, passwords, or similar secret access information for their credit card, bank, or other financial accounts. If you receive an unsolicited email claiming to be from the IRS, forward this message to
[email protected]. You may also report misuse of the IRS name, logo, or other IRS property to the Treasury Inspector General for Tax Administration (TIGTA) at 1-800-366-4484. You can forward suspicious emails to the Federal Trade Commission at:
[email protected] or contact them at www.ftc.gov/idtheft or 1-877-IDTHEFT (1-877-438-4338). Visit IRS.gov to learn more about identity theft and how to reduce your risk.
3
The grantor*
For this type of account: 7. Disregarded entity not owned by an individual 8. A valid trust, estate, or pension trust
2
You must show your individual name and you may also enter your business or DBA name on the “Business name/disregarded entity” name line. You may use either your SSN or EIN (if you have one), but the IRS encourages you to use your SSN.
Privacy Act Notice Section 6109 of the Internal Revenue Code requires you to provide your correct TIN to persons (including federal agencies) who are required to file information returns with the IRS to report interest, dividends, or certain other income paid to you; mortgage interest you paid; the acquisition or abandonment of secured property; the cancellation of debt; or contributions you made to an IRA, Archer MSA, or HSA. The person collecting this form uses the information on the form to file information returns with the IRS, reporting the above information. Routine uses of this information include giving it to the Department of Justice for civil and criminal litigation and to cities, states, the District of Columbia, and U.S. commonwealths and possessions for use in administering their laws. The information also may be disclosed to other countries under a treaty, to federal and state agencies to enforce civil and criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism. You must provide your TIN whether or not you are required to file a tax return. Under section 3406, payers must generally withhold a percentage of taxable interest, dividend, and certain other payments to a payee who does not give a TIN to the payer. Certain penalties may also apply for providing false or fraudulent information.
