W-8: Life Insurance for a Non-USA Client

Oct 5, 2016

  1. debbie790
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    debbie790 New Member

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    Hi,

    My client has a life insurance (Universal) policy with NYL.

    Client Details:
    Citizen: Canada
    Residency: Qatar
    SSN: He was a permanent resident of USA in 2000, and has an SSN.

    Which form does he need to complete? W-8BEN or W-8ECI or some other form

    Thanks
    Debbie
     
  2. walthamny
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    walthamny Guru

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    Your question depends on whether he still has a valid green card. If he does, you would use his SSN number. If he does not, most likely you would use whichever form the insurance company requires. It will probably be W8BEN.

    The other form is mostly for payment of life insurance death benefit to a foreign person.
     
  3. debbie790
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    debbie790 New Member

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    My client does not and has never had a green-card. He lived in US for 2 years on a work visa, and therefore has a SSN.

    In that case:

    1. Should he submit W-8BEN or W-8ECI (NYL did not specify which W-8)?

    2. Should he mention his SSN in the W-8?

    Thanks
    Debbie
     
  4. walthamny
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    walthamny Guru

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    Since you are applying at NYL, you would fill out whatever they require. W8 Ben should be sufficient. SSN numbers don't expire so you would use that number on the W8Ben.

    In the old days, NYL used to issue permanent only contracts with no riders to Canadian Citizens. I don't know if that has changed. Don't expect them to offer wp or SPPO riders to foreign citizens.
     
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