Shareholders of Diversified Gas & Oil PLC will receive their dividends in US dollars.
IRS Tax Forms
Foreign shareholders of Diversified Gas & Oil (i.e. those that are non-US resident) are required to complete an Internal Revenue Service (“IRS”) W-8 form (W-8BEN, W-BEN-E, W-8IMY or W-8ECI).
For non-US Shareholders who are individuals, Form W-8BEN relating to US withholding tax for non-US investors should be completed. For non-US Shareholders who are entities, Form W-8BEN-E (or, if applicable, Form W-8IMY or Form W-8ECI) relating to US withholding tax for non-US investors should be completed.
A brief summary of the purpose of each of the Forms W-8 is provided below with links to the form and its instructions:
|Form W-8BEN (Individuals)||Instructions to Form W-8BEN|
|Form W-8BEN-E||Instructions to Form W-8BEN-E|
|Form W-8IMY||Instructions to Form W-8IMY|
|Form W-8ECI||Instructions to Form W-8ECI|
Form W-8BEN (Certification of Foreign Status of Beneficial Owner for United States Tax Withholding - Individuals) is for foreign individuals to provide their identifying information in Part I and certify in Part III that they are not U.S. taxpayers. The Form W-8BEN is also used to exempt (or reduce the rate on) certain types of payments from the 30% federal income tax withholding required under U.S. tax law (see Part II). For a valid tax treaty exemption, the recipient must provide either a U.S. tax identification number on line 5 or a foreign tax identification number on line 6.
Form W-8BEN-E (Certification of Foreign Status of Beneficial Owner for United States Tax Withholding - Entities) is the most common form used by foreign entities to certify their status under the following two withholding regimes under US tax law: (1) Internal Revenue Code (IRC) Chapter 3 withholding of tax on US source income of foreign entities, and (2) IRC Chapter 4 withholding of tax to enforce reporting on certain foreign accounts pursuant to the Foreign Account Tax Compliance Act (FATCA). Entities are required to provide their identifying information as well as FATCA classification type in Part I, and certify in Part XXIX the entity as not a US person and the entity’s status under FATCA. Part III of the form is used to claim a treaty exemption (or reduced withholding rate) for certain types of payments from the 30% federal income tax withholding required under Chapter 3. Parts IV-XXVIII of the form contain separate certifications for each type of FATCA classification for which entities need only focus on the particular section that corresponds to their FATCA classification type selected in Part I. For a valid tax treaty exemption, the recipient must provide a U.S. tax identification number on line 8 or Foreign tax identification number on line 9b.
Form W-8IMY (Certification of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for U.S. Tax Withholding) is used for reporting payments to "flow-through entities" such as foreign partnerships or trusts that serve as the U.S. withholding agent for its partners or beneficiaries. Completion of this Form certifies that the entity is responsible for withholding U.S. tax and remitting such to the IRS. A U.S. tax identification number must be provided.
Form W-8ECI (Certification of Foreign Person's Claim that Income is Effectively Connected with the Conduct of a Trade or Business in the U.S.) is for exemption from withholding on income effectively connected with a trade or business in the United States. The form stipulates that the foreign entity files yearly U.S. income tax returns to report all income claimed to be effectively connected with a U.S. trade or business. In order for the form to be completed properly, a U.S. tax identification number must be provided.
To receive the dividend due to be paid on 31 July 2017 at the lower rate of withholding tax, Shareholders must complete and return the relevant W-8 Form to Neville Registrars, 18 Laurel Lane, Halesowen B63 3DA in the pre-paid envelope so as to be received by Neville Registrars by 21 July 2017.
Shareholders who do not complete and return these forms will receive the 2016 final dividend and all future dividends after deduction of US withholding tax of 30%.