W-8BEN-E OCR API

Extract data from W-8BEN-E forms to verify a foreign entity's legal name, country of incorporation, entity classification, and global intermediary identification number (GIIN) for international tax withholding and FATCA compliance purposes.

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W-8BEN-E OCR API

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What is W-8BEN-E OCR?

W-8BEN-E OCR is a software solution that automates the collection and digitization of W-8BEN-E forms. Using optical character recognition technology, this system scans and extracts data from these complex international tax documents specifically designed for foreign entities. Users simply upload scanned W-8BEN-E forms, and the software automatically extracts the relevant information into digital format, saving time and reducing errors associated with manual entry of these multi-page documents.

A primary advantage of W-8BEN-E OCR is the streamlined onboarding process for foreign entities and businesses. By automating W-8BEN-E form processing, companies can efficiently collect necessary tax information and entity classification details without relying on error-prone manual processes. W-8BEN-E OCR also enhances compliance with FATCA and other IRS regulations by creating a digital audit trail and ensuring accurate data capture across all chapters and sections of these complex forms. This technology is an essential tool for businesses with global operations seeking to improve tax documentation efficiency while maintaining compliance with international tax requirements.

Request: W-8BEN-E Data Extraction

import requests

url = "https://api.veryfi.com/api/v8/partner/w-8ben-e"

headers = {

'CLIENT-ID': '<API_KEY_VALUE>',

'AUTHORIZATION': 'apikey <USERNAME_VALUE>:<API_KEY_VALUE>'

}

payload = {'file_url': 'https://cdn…'}

response = requests.post(url, headers=headers, data=payload)

print(response.json())

Response: Structured JSON

{

“name”: “Global Corp Ltd.”,

“country”: “United Kingdom”,

“permanent_address”: “10 London Wall”,

“city_country”: “London, EC2M 6SA”,

“entity_classification”: {

“corporation”: true,

“disregarded_entity”: false,

“partnership”: false,

“simple_trust”: false,

“tax_exempt”: false

},

“fatca_status”: “Participating FFI”,

“giin”: “98Q96B.00000.LE.826”,

“signature_date”: “2024-03-20”,

“signed”: true

}

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The only API you will ever need to accurately extract key/value data in a standardized format you can trust across any geography, language, or format — enabling seamless international business expansion without lifting a finger.

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Use Cases

International Tax Compliance

International Tax Compliance

Financial institutions process 2.4M+ W-8BEN-E forms annually for foreign entity tax compliance but manual verification takes 25-45 minutes per document, costing the industry $8.7B in processing overhead. Tax treaty benefit errors cause 31% of withholding tax penalties and IRS audits. Veryfi’s W-8BEN-E OCR API instantly extracts entity names, tax IDs, country of residence, treaty benefits, and certification details with IRS-compliant accuracy. Reduce processing time by 93%, eliminate compliance errors, ensure proper withholding rates while maintaining complete audit trails for regulatory reporting.

Banking & Financial Services

Banking & Financial Services

Global banks onboard 680,000+ foreign entity clients annually requiring W-8BEN-E verification for account opening and withholding tax compliance, but manual processing creates 12-18 day delays costing institutions $12.4M in lost business and operational overhead. Entity verification errors cause 28% of compliance failures and regulatory penalties. Veryfi’s API automatically extracts entity classification, GIIN numbers, beneficial ownership details, and tax treaty claims for instant KYC compliance and automated withholding calculations. Reduce onboarding time by 85%, improve compliance accuracy, accelerate account activation while ensuring FATCA and CRS reporting requirements.

Investment Management & Brokerage

Investment Management & Brokerage

Investment firms process 450,000+ W-8BEN-E forms annually for foreign institutional clients, but manual data entry creates 8-15 day account setup delays costing the industry $6.8M in lost trading opportunities and client acquisition. Tax classification errors cause 34% of dividend withholding mistakes and client disputes. Veryfi’s API extracts investment entity details, tax residence status, treaty benefits, and FATCA classifications for automated client onboarding and tax-efficient investment processing. Reduce onboarding time by 89%, improve tax efficiency, accelerate trading authorization while ensuring accurate beneficial ownership and compliance reporting.

Corporate Treasury & Payments

Corporate Treasury & Payments

Multinational corporations process 320,000+ W-8BEN-E forms annually for subsidiary and vendor payments, but manual verification creates 10-14 day payment delays costing companies $9.2M in cash flow disruptions and vendor relationship strain. Withholding tax calculation errors cause 26% of payment reconciliation issues and tax compliance failures. Veryfi’s API automatically extracts entity structures, tax residency claims, and treaty positions for automated payment processing and accurate withholding calculations. Reduce payment processing time by 87%, optimize tax efficiency, accelerate vendor payments while ensuring global tax compliance and transfer pricing documentation.

Real Estate & Property Investment

Real estate investment platforms manage 180,000+ foreign entity investors annually requiring W-8BEN-E documentation for FIRPTA compliance and tax-efficient property investments, but manual processing creates 15-25 day investment delays costing platforms $4.6M in lost transactions and investor confidence. Entity classification errors cause 39% of withholding tax mistakes and compliance violations. Veryfi’s API extracts entity types, beneficial ownership details, and treaty benefits for automated FIRPTA compliance and optimized investment structuring. Reduce investment processing time by 84%, improve tax efficiency, accelerate property transactions while ensuring accurate REIT distributions and foreign investor compliance.

Cryptocurrency & Digital Assets

Cryptocurrency & Digital Assets

Digital asset platforms process 95,000+ W-8BEN-E forms annually for institutional crypto investors, but manual KYC verification creates 18-28 day onboarding delays costing exchanges $3.4M in lost trading volume and institutional adoption. Entity verification errors cause 42% of compliance failures and regulatory scrutiny in the rapidly evolving crypto regulatory landscape. Veryfi’s API extracts entity classifications, beneficial ownership structures, and tax residency details for automated institutional onboarding and compliant crypto trading. Reduce onboarding time by 91%, ensure regulatory compliance, accelerate institutional adoption while maintaining complete audit trails for evolving digital asset regulations.

Fintech & Payment Processors

Fintech & Payment Processors

Fintech platforms onboard 240,000+ foreign business entities annually for cross-border payment services, but manual W-8BEN-E processing creates 12-20 day activation delays costing companies $5.8M in lost transaction volume and competitive disadvantage. Entity verification bottlenecks cause 33% of client churn during onboarding and regulatory compliance gaps. Veryfi’s API automatically extracts entity details, tax classifications, and compliance certifications for instant business verification and payment authorization. Reduce onboarding time by 88%, improve client retention, accelerate payment processing while ensuring AML compliance and cross-border transaction monitoring for regulatory reporting.

Legal & Tax Advisory Services

Legal & Tax Advisory Services

Tax advisory firms process 75,000+ W-8BEN-E forms annually for international tax planning and entity structuring, but manual review takes 35-55 minutes per document costing firms $4.2M in professional time and client service delays. Form complexity errors cause 29% of tax planning mistakes and IRS correspondence for clients. Veryfi’s API extracts complete entity structures, tax classifications, treaty positions, and beneficial ownership details for automated tax planning analysis and compliance verification. Reduce document review time by 86%, improve advisory accuracy, accelerate client deliverables while ensuring comprehensive international tax compliance and optimized entity structures for global operations.

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