Important Notice!

As previously advised, our Service provider for SonrayGlobal, Interactive Brokers, informed Sonray, that as an Internal Revenue Service (IRS) requirement you were to  complete a ‘W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding’ form. This form is required to prevent withholding on any dividends and/or interest earned in your account.

***THIS FORM WAS DUE IN DECEMBER, PLEASE READ THE MESSAGE FROM OUR SERVICE PROVIDER BELOW REGARDING THOSE ACCOUNTS WHOM HAVE NOT PROVIDED A W-8BEN FORM

We will be taking the following steps in anticipation of ultimately requiring the closure of non-compliant accounts:

January 11, 2008
All non-compliant accounts will be disconnected from market data services

January 18, 2008
All accounts with less than $2000 in equity and no positions will have the funds returned to the master account for further remittance to the beneficial owner. These accounts will then be closed.

January 25, 2008
all remaining non-compliant accounts having any amount of equity but otherwise no positions will have the funds returned to the master account for further remittance to the beneficial owner. These accounts will then be closed.

Starting Thursday January 31, 2008
Remaining non-compliant accounts will have all positions liquidated under the conditions of an "Undocumented Account" (see IRS website for more information). Typically, this means 30% withholding  on sale proceeds. As the withheld amounts are remitted to the IRS within 3 days, account holders will need to directly apply to the IRS to recover any withheld funds.

If you still need to return your form to Sonray please find the form and see the instructions on how to complete the form below.

   FW8-ben Form

   FW8-ben Instructions

Please send the form to the address below at your earliest convenience.

We apologise for any inconvenience this may have caused you.  Please call your adviser or email sonray@sonray.com.au if you have any questions or require any clarification regarding the issue.