Overall Burden Calculation On FATCA Revised Forms

TaxConnections Picture - Tax On BackForm W-8BEN-E? 25.23 hours!

In the October 24, 2013 Federal Register, the Internal Revenue Service requested comments on Forms W–8BEN, W–8BEN–E, W–8ECI, W–8EXP, and W–8IMY as revised for Foreign Account Tax Compliance Act – FATCA. Included with their request for comments is a time estimate for purposes of an overall burden calculation.



Form Number of Respondents Time per respondent/hours Total annual burden hours
W-8BEN 3,000,000 7.18 21,540,000
W-8BEN-E 100,000 25.23 2,523,000
W-8ECI 180,000 9.13 1,643,400
W-8EXP 240 20.05 4,812
W-8IMY 400 25.23 10,092

Jim Calvin, Deloitte & Touche LLP (Singapore). Jim is the Deloitte Touche Tohmatsu Limited (DTTL) Asia-Pacific Tax Leader for the Financial Services Industry Practice, and currently based in Singapore. Also is DTTL’s Asia-Pacific regional leader for FATCA. Before relocating and joining the Singapore firm of Deloitte & Touche LLP, he had been the Deloitte asset management tax leader for the U.S. member firm, and, until 2002, was the hedge fund practice leader.

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