My wife has received a request to complete Form W-8BEN from a foreign bank in her origin country (non-US). She has a bank account there which is being used solely for small transactions to support family members. There is a certain amount of money deposited on that foreign account - not exceeding any limits.
- I'm H1B holder, she is under H4 and meets substantial presence test. She has ITIN number.
- We are filing 'married filing jointly' return
- My wife doesn't have ANY income in the US or in the origin foreign country
- My wife didn't make ANY money transaction ever between US bank and that foreign bank
1) Why she is receiving this form? Why foreign bank is requesting it? What are the possible reasons?
2) Should she even complete this form?
Foreign bank said that nothing to be worried about. Kind of just "for our own records". But it's really weird.
