For large corporations and institutions making payments to foreign vendors and individuals for services, royalties and licensing fees, rents, interest, or other payments, W-8 E-Compliance simplifies collection and verification of W-8 forms, automates withholding determination, and accurately prepares forms 1042/1042-S.

W-8 E-Compliance™

Streamline your workflow process from beginning to end with W-8 collection and verification, withholding determination, and Form 1042/1042-S preparation with W-8 E-Compliance, the hosted solution from Windstar Technologies.

W-8 Collection and Verification Simplified

With W-8 E-Compliance, you input the basic contact information – manually or electronically – and the system does the rest. Vendors follow easy-to-understand instructions written in question-and-answer format with a virtual library of help.

Automated Withholding Determination

W-8 E-Compliance determines the appropriate withholding based on tax status and available tax treaty exemptions. The system then provides the correct withholding amount on foreign payments and the supporting detail, all linked to the applicable W-8 and your company's data.

Analyze Treaty Benefits Instantly

The United States has tax treaties with over 60 countries. To ensure that you're treating the payment correctly, W-8 E-Compliance performs a treaty analysis to determine if the vendor is eligible for a withholding reduction or an exemption.

Accurate 1042/1042-S Preparation

W-8 E-Compliance makes 1042/1042-S year-end processing straightforward and simple. The software sets up the correct codes and tax rates for each vendor payment. Plus, it uses the applicable W-8 information to create forms 1042-S to provide to vendors and the IRS. W-8 E-Compliance even reconciles the data for your 1042 filing with the IRS, making your 1042/1042-S processing virtually effortless.

Streamline Your W-8 Compliance

Automate your W-8 process with an online, hosted application that's intuitive and easy to use.
Process compliance for payments to foreign vendors including pay for services, equipment rents, royalties and license fees, interest, and other payments.
Guide administrators and vendors through the process with online help and explanations.
Automate the workflow process from beginning (with W-8 forms solicitation) to end (with Form 1042/1042-S preparation).
Determine whether to collect a Form W-8 or W-9 using the substantial presence test to calculate residency status.

To download more information about our W-8 Compliance solution for Multinational corporations, Click here.

Learn more about Windstar Technologies

W-8/W-9 FOR FOREIGN FINANCIAL INSTITUTIONS

ONESOURCE Tax Information Reporting offers a solution for U.S. Compliance for Foreign Entities that includes:

Electronic forms W-8 and W-9
Real-time documentation validation
Substantial Presence Test
Detection of U.S. citizens, dual citizens, and those subject to U.S. taxation
Optional rebranding to reflect clients' brand
Integration with existing systems and online presence
Support of Documentary Evidence/KYC
Exception management queues
Compliance status reporting
Validation of flow through entity structures
Consolidation of online and existing paper documentation
Support of data segregation, aiding organizations with multiple business units
Customizable access controls

FEATURES

Online Form Filing Interface (Recipient Site)
Automates collection of forms W-8 and W-9
Provides a series of error and warning messages that guide customers through the form completion process
Offers intuitive user interface, which can be customised to your company's branding
Includes a comprehensive help system Administration Interface
Automatically validates form information against an extensive IRS rule set
Offers real-time compliance reports on account holder population
Provides administrators with a daily compliance task list
Compares documentation against existing customer records
Ensures that forms which require review receive manual intervention

BENEFITS

Proven to reduce the cost of compliance (customers have reported up to a 30% cost savings)
Facilitates an exception management approach to compliance by eliminating the need to review correctly documented account holders in detail
Real-time online form validation reduces number of invalid form submissions
Helps ensure compliance with IRS documentation requirements, thereby mitigating the risk of penalties
Web-based solution reduces paper and postage costs

Click here to view FAQs about Identity (W-8/W-9) solutions.