# Questrade - where to check withholding tax



## msafri (Aug 13, 2013)

Hi All
I am a bit new to Questrade interface. I don't know where to check the with holding tax deducted from the dividends on US equities. The reason I want to check is whether Questrade has correctly registered me as a Canadian resident. In case otherwise I may have to file a W8-BEN with Questrade.


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## andrewf (Mar 1, 2010)

Why not contact them? I had to fill out the W8-BEN when I created my accounts.


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## Eclectic12 (Oct 20, 2010)

msafri said:


> ... I don't know where to check the with holding tax deducted from the dividends on US equities.
> 
> The reason I want to check is whether Questrade has correctly registered me as a Canadian resident. In case otherwise I may have to file a W8-BEN with Questrade.


If you hold a US stock directly in a taxable account and hold the US stock directly, I'd think it would be easy.

The US corporation will announce on the web that on date such & such, there will be a dividend of amount $Y. Check either online or the monthly statement from Questrade to compare. If it's the announced amount minus 15% that is received in the account, then the W8-BEN is registered. If it's reduced by 30% - then the W8-BEN is not filed to qualify for the reduced withholding tax.

The complications I can think of are:

a) if held in a TFSA that does not support USD, then there will also be a currency conversion to figure out.

b) if it's a MF or ETF, it might be more complicated as what cash paid might be a mix if US dividends, return of capital, interest which could mean it's not an exact 15% or 30%.


As anderwf says, I'd also contact them but would also find an easy calculation to confirm (when have phone reps & computers ever been wrong, right? :rolleyes2.


Cheers


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## the_apprentice (Jan 31, 2013)

Login to "My Questrade". Click on the "My Account" tab, then on "Account Activity". Select your account and it will show your Dividends as well as your Withheld taxes for the selected dates.


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## Tetsujin (Mar 17, 2016)

Eclectic12 said:


> If you hold a US stock directly in a taxable account and hold the US stock directly, I'd think it would be easy.
> 
> The US corporation will announce on the web that on date such & such, there will be a dividend of amount $Y. Check either online or the monthly statement from Questrade to compare. If it's the announced amount minus 15% that is received in the account, then the W8-BEN is registered. If it's reduced by 30% - then the W8-BEN is not filed to qualify for the reduced withholding tax.
> 
> ...


Hi guys,

I read that if you hold your US stocks that yield dividends in your RRSP then there's no withholding taxes. I think you can't avoid the foreign exchange but at least there is no withholding tax. 

However, I wonder if in that case you still need to fill out the W8-BEN?


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## Eclectic12 (Oct 20, 2010)

Tetsujin said:


> ... However, I wonder if in that case you still need to fill out the W8-BEN?


It is the W8-BEN form that gives the RRSP it's exemption so yes, you have to fill one out.

Though I opened multiple accounts at the same time so I only have to fill one out that covered both accounts being opened.


Cheers


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