# W8BEN - missed dividends



## Banalanal (Mar 28, 2011)

There has been some hold up at RBC Direct Investing and my W8BEN form has not been accepted as of yet. I have been taxed 30% instead of the 15% for months. Can I apply to be reimbursed?


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## Karen (Jul 24, 2010)

I'm far from an expert, but I'm wondering if the easiest way for you to recover the extra 15% would be to simply leave things as they are and deduct the whole 30% as a foreign tax credit instead of the 15% that should have been withheld. Or would CRA not allow the extra 15% on the grounds that it was an overpayment to the IRS?


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## CanadianCapitalist (Mar 31, 2009)

I had the same problem with Questrade. My understanding is the 15% extra tax withheld is not recoverable easily. I was given a whole bunch of forms to try to figure out how to apply for a refund from the IRS, but it was so complicated that I decided not to pursue. I chalked the couple of hundred bucks down to an expensive lesson and now always check with the discount broker multiple times that I'm correctly recorded as a Canadian resident.


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