FREQUENTLYASKEDQUESTIONSforW8BENandW9forms

1. Why are employees working outside the United States required to complete a United States tax
form?
United States tax law requires U.S.based firms to report information that depends on an employees
status as a U.S. taxpayer (generally, a U.S. citizen or green card holder) or not. Therefore, as an
employeeofJPMorganChaseanditssubsidiariesoraffiliates,youmustcompleteformW9ifyouarea
U.S.citizenoraU.S.residentalien(greencardholder),orformW8BENifyouareneithera
U.S.citizennoraresidentalien.Theseformsareusedfortaxstatuscertificationonlyandarekeptonfile
withinthefirm(i.e.,JPMorganChaseneedstobeabletoidentifywhereitemploysU.S.taxpayers).
2. If an employee works for a foreign subsidiary of JP Morgan Chase, why does he or she need to
completeaU.S.taxform?
SomeU.S.taxreportingrequirementsdependonlyonwhethertheemployeeisaU.S.citizen(orgreen
cardholder)anddonotdependonwhethertheemployerentityisaU.S.entityornot.Inotherwords,
theforeignsubsidiaryoftenhasthesamereportingrequirementswithrespecttoanemployeethatisa
U.S.citizen(orgreencardholder)asaU.S.companyhas.
3.Isthisanewregulatoryrequirement?
NO,itisnotanewregulatoryrequirement.Thedeploymentoftheonlineformhasprovidedasimple
andefficientmechanismforJPMorganChasetocollectinformationthatitneeds.JPMorganChasehas
beencollectingthisinformationfromnewhiressince2011.
4.WillthecompletedformautomaticallybesenttotheU.S.regulators?
NO, the completed form will be stored at JPMorgan Chase as part of the employees HR record for
referenceandregulatoryreportingpurposes.
5.WhatisthetaximplicationforanemployeeworkingoutsidetheUnitedStateswhocompletesaW
9?
TherearenotaximplicationstoanemployeeasaresultofcompletingaW9.EmployeeswhoareUS
citizensorgreencardholdersareexpectedtobecomplyingwiththeirindividualUStaxobligationsand
are encouraged to work with their personal tax advisor to ensure that all of their individual tax
obligations, inside and outside the U.S. are fulfilled. JP Morgan Chase will evaluate whether it has an
obligationtodoW2reportingandFICAandU.S.incometaxwithholdingonemployeeswhosubmita
W9.

6.WhatisthetaximplicationforanemployeeworkingoutsidetheUnitedStateswhocompletesaW
8BEN?
ThereisnotaximplicationasaresultofcompletingaW8BEN.JPMCusesthisinformationforreporting
purposes only, specifically to appropriately exclude non U.S. persons from any U.S. tax reporting
requirements.ItwillnotbeusedtochangeanemployeespayortaxwithholdingsatJPMC.Thatsaid,
employees should always work with their personal tax advisor to ensure that their personal tax
obligations,insideandoutsidetheU.S.arefulfilled.
7.IfanemployeeworkingoutsidetheUnitedStateshassharesofJPMorganChasestock,wouldthe
form(W8BEN/W9)completedandsubmittedtoJPMorganChasebeusedtodeterminetaxationof
dividendsorsaleofstock?
Doemployeesneedtocompletetheformifthereisnoexpectationofthemreceivingdividendincome?
Thecompletionofthisformhasnobearingonanyemployeeequityholdingsordividendincome.The
transferagentforequitieswillprovidetheaccountholderwiththenecessaryW8BEN/W9formatthe
timeoftheaccountregistration.
8.DoemployeeswhohavealreadyprovidedaW8BENorW9toBNYM(a/k/aMellon)inconjunction
withthestockawardprogramsneedtocompleteaformforthisinitiative?
Yes.TheformscompletedforstockawardsareheldbyBNYMforthestockawardprogramsonlyandare
notavailabletoJPMCforthisinitiative.
9.Iseveryonewho worksatJPMCoutsideoftheU.S.,includingcontingent workers,requiredtofill
outW8BEN/W9forms?
OnlyemployeesofJPMorganChaseanditssubsidiariesoraffiliatesarerequiredtocompletetheW8BEN
andW9forms.Wedonotcollectandstorethistypeofinformationforcontingentworkerswhoarenot
employeesofthefirm.
10.WillJPMorganChaseprovidealistofcountrieshavingtaxtreatybenefitsfromtheU.S.?
Such a request is not relevant to this process. Employees should always work with their personal tax
advisortoensurethattheirpersonaltaxobligations,insideandoutsidetheU.S.arefulfilled.
11.WhatarethetaximplicationsforanemployeewhofilesaW8BENformifearningsarepaidinU.S.
dollarsbuttheworklocationisoutsidetheU.S.?
Therearenotaximplications.AnemployeewhocompletestheW8BENformissimplyisacknowledging
thathe/sheisneitheraU.S.citizennoraresidentalien.IfthepersonisaU.S.citizenoraresidentalien,
he/she must complete a W9 form. Employees should always work with their personal tax advisor to
ensurethattheirpersonaltaxobligations,insideandoutsidetheU.S.arefulfilled.

12.WillJPMorganChase coverthecostsifanemployeewantstoobtainexternalspecializedadvice
beforefilingtheform?
No.EmployeesareresponsibleforanycoststheyincurinseekingspecializedadviceregardingW8BEN
andW9forms.
13.WhohasbeennotifiedthatemployeeswillberequiredtocompletetheW8BEN/W9forms?
AllseniorHRexecutives,globalcorporatetaxteamsandotherHRteammemberswerenotified.
14.WhereshouldemployeesdirectqueriesaboutW8BENandW9forms?
Employees with questions about the W8BEN and W9 forms should contact accessHR if that is their
normalchannelforHRrelatedquestions.ForemployeeswhoarenotsupportedbyaccessHR,questions
shouldbeemailedtoJPMCMandatoryTaxCertification.
15.WhatistheprocesstorenewtheW8BENformafterthethreeyearexpirationperiod?
The process is not finalized right now; however, employee will receive information about a
recertificationatalatertime.
16.Whathappensifanemployeedoesnotcompleteandsigntheform?
Thisisacomplianceissueandtheexpectationisthatemployeeswillcompleteandsigntheappropriate
formatthetimeoftheinitialcommunications.Reminderswillcontinuebesenttoemployeeswhodo
notcompleteandsubmittheform.AdditionalreminderswillbeescalatedtoincludetheManagerand
theHRBusinessPartner.
17.ArenewhiresthatcompletedandsubmittedaW8BENorW9aspartoftheonboardingprocess
includedinthisinitiative?
No.NewhiresthathavealreadycompletedandsubmittedaW8BENoraW9arenotincludedinthis
processaswealreadyhavethenecessaryformonfile.
18. What are the consequences for employees who are neither a U.S. citizen nor green card holder
whodontcompleteandsubmitanyforms?
JP Morgan Chase might need to assume that any employee that does not return a form W8BEN
certifying nonU.S. status is, in fact, a U.S. taxpayer and JP Morgan Chase may therefore report
information about that employee to the U.S. Internal Revenue Service in conjunction regulatory
reporting. (Please note that applicable local regulations and privacy requirements would be reviewed
prior to the release of any employees information. We are committed to being compliant with our
regulatorsinalllocations.)

19. Have the applicable data protection laws been applied to the storage and potential use of the
data?
Yes,thedataprotectionrequirementshavebeenappliedastheyareforallemployeedatacollectedand
storedbyJPMorganChaseanditssubsidiariesandaffiliates.
20.IfanemployeeisneitheraU.S.citizennoragreencardholderbutreceivesincomefromtheU.S.,
whatformdoeshimorhercomplete?
TheemployeeshouldcompletetheW8BENastheformisonlybeingrequestedtoidentifyU.S.persons
andnonU.S.persons.
21.IfanemployeehaschangedtheirstatussothattheW8BEN/W9isnolongercorrect,doesanew
oneneedtobesubmitted?
If an employee changes their status to/from that of a U.S. resident alien (green card holder) or U.S.
citizen,thenanewformW8BENorW9needstobesubmittedimmediatelyuponthechangeofstatus.
22. Which form does an employee complete and submit if he or she is a U.S. citizen (or green card
holder),aswellasacitizenofanothercountry?
TheemployeeshouldcompleteandsubmitaW9.
23.Howcananemployeeconfirmtheformsubmittedsuccessfully?
Employees can log back into the application, access the appropriate form and check the Last Submit
stampatthebottomoftheform.Ifitshowsthecurrenttime,thentheSubmitwassuccessful.Ifitsays
Neverthentheformdidnotsubmitsuccessfullyandtheemployeeshouldresubmit.

W8BENOnlineForm
Allfieldsingreyareeitherprefilledand/orcannotbeeditedbecausetheyarenotapplicable.
Anychanges tonameandaddressinformationshouldbesubmittedMyPersonalProfileusing
thelinkprovidedin theform.Ifanotherchannelis usedinyour locationto make this typeof
change,pleaseusethatchannel.
U.S.taxpayeridentificationnumberisonlyprovidedifapplicable
W9OnlineForm
Allfieldsingreyareeitherprefilledand/orcannotbeeditedbecausetheyarenotapplicable.
Anychanges tonameandaddressinformationshouldbesubmittedMyPersonalProfileusing
thelinkprovidedin theform.Ifanotherchannelis usedinyour locationto make this typeof
change,pleaseusethatchannel.
SocialSecurityNumbershouldbeenteredintheappropriateboxinPartI.
If, after reading the Certification Instructions in Part II, you need to cross out item #2 in this
section, please print this form, make the necessary modifications, sign, and date and email a
scannedcopytoJPMCMandatoryTaxCertification.