While we cannot provide you with tax advice, we have put together this article to help you through the process. This has the caveat that you should always seek advice from a professional accountant/tax advisor because we are not authorized to advise about your specific tax situation, including filling out your specific tax form.

What’s required?

Non-US are required to complete a standard IRS form called Form W-8BEN (for individuals) which includes some basic information about you.

The purpose of the Form W-8BEN is to establish your identity and status as a non-U.S. person. 

Each team member of a winning bounty / track prize, must provide their own KYC, details, and tax information. 

Other Income

Generally, winning prizes at a hackathon is considered "other income." If you are a non-US, your earnings are subjected to a withholding tax of at least 30%.

US tax law provides that the US payor may collect taxes for US source other income. Other income is considered to be US sourced when the earnings is made by a person residing within the US.

Accordingly, if you are a non-U.S. person, your winnings to US may be subject to other income withholding tax of up to 30%.

However, if you are a resident of a country that has an income tax treaty with the U.S., you may be eligible for a reduced withholding tax rate. The full text of these treaties can be found on the IRS website.

For a tax treaty, you will need:

- Your Name

- Your Country of Origin

- An iTIN (Tax Identification Number)

A list of the applicable treaty "Other Income" withholding tax rates can be found here. The applicable rates applied are based on the Other Income Article classification.

Note: Any tax withheld will be remitted to the IRS - and not held by ETHDenver or it's Sponsors.

Tax Form W-8BEN - for Non-US Individuals

W-8BEN - https://www.irs.gov/pub/irs-pdf/fw8ben.pdf