The QI Rap

The QI Rap

The QI Rap So, you wanna be a qualified intermediary, great! With relief at source and not disclosed your clients will be merry; But if your KYC rules didn’t make their list; Your chances of QI are zero, nada, nothing, Get the gist? Read Up You’re on the list. Hooray!...
So you think you know enough to be a QI?

So you think you know enough to be a QI?

So you think you know enough to be a QI? I am seeing a rapidly increasing trend in the market. Many US Withholding Agents and quite a few QIs are now insisting that their financial institution clients, who are currently non qualified intermediaries (NQIs), become...
QI vs NQI, That is the Question

QI vs NQI, That is the Question

QI vs NQI, That is the Question I am coming across an increasing number of financial firms who have NQI status under IRC Chapter 3 withholding tax regulations, who are being told to become QIs by their USWAs. The QI Myth There’s no real Chapter 3 logic here that...
Don’t Panic! The W-8IMY is out!

Don’t Panic! The W-8IMY is out!

Don’t Panic! The W-8IMY is out! This week we take a look at the Form W-8IMY. This form was revised at the end of April and has more than doubled in size and complexity. But never fear, Ross is here and his message is “DON’T PANIC!”   The Form W-8IMY...