Shutterstock is required to maintain up-to-date tax information about its contributors on behalf of the U.S. Internal Revenue Service. While Shutterstock cannot give you personal tax advice, we have prepared the FAQ below to help you understand our requirements.
What do I need to know about taxes and the W-8BEN Form?
If you are not a United States citizen or resident, you may be subject to tax withholding at a rate of 30% for all licenses purchased by U.S. customers (“U.S. Source payments”). However, this rate of withholding may be lower or zero if you are a resident of a country that has an income tax treaty with the United States.
All Shutterstock contributors are required to have a valid tax form on file so we can withhold taxes at the appropriate rate and meet our obligations with the U.S. Internal Revenue Service. Shutterstock will not issue payments to contributors who do not have an approved tax form on file.
There are a few different types of W-8BEN forms. Our Tax Center will help you choose the proper form for your situation.
What is a W-8BEN form?
W-8BEN forms are used by foreign individuals and businesses to document their non-US status and to claim any applicable treaty benefits for tax purposes. You can learn more about the W-8BEN-E form here.
How often do I have to submit a W-8BEN?
A W-8 form is only valid for 3 calendar years, as per Internal Revenue Service (IRS) regulations. If your most recent form was accepted more than 3 years ago, you are required to submit a new form. We will notify you by email when it's time to submit a new form.
How do I submit the W-8BEN?
Our Tax Center will help you decide which form is right for you. Simply answer the questions, and follow the prompts on the screen.
If the W-8BEN is appropriate for your situation, you’ll be prompted to fill in a few fields. Then you can submit the form electronically directly from the Tax Center.
Other forms (W-8ECI, W8-BEN-E, etc.) can be downloaded from the Tax Center in PDF format. Fill out the form completely, and email it as an attachment to taxhelp@shutterstock.com.
What is the deadline for submitting a W-8BEN form?
You should submit a tax form before the next payout of your earnings is processed. You must update your tax form before the next pay cycle to be issued a payment from your accrued earnings.
What if I don't send a new W-8BEN form before my next payment?
Without an approved W-8BEN on file, you will not be eligible to receive a payout of your accrued earnings. Your earnings will continue accruing until we receive a tax form submission from your account and the tax form is approved.
I’ve just submitted a W-8BEN. Why am I being asked to supply supporting documentation?
If you submit a W-8BEN and you receive your mail in a different country from where you reside, or your earnings may be taxable as a United States citizen or resident, we may request that you provide additional information via email. Follow the prompts on the screen, and email the requested documents to taxhelp@shutterstock.com.
What if the information on my W-8BEN form has not changed?
If your W-8BEN form is expired, you will need to submit a new form even if your name, address, and other pertinent information have not changed.
What if information that has been pre-filled on the W-8BEN form is incorrect?
If you choose to submit a W-8BEN form, your name and address will be automatically filled in based on the personal information in your contributor account. If this information is not correct, update your name, or change your address before you submit the W-8BEN.
Where can I learn about tax withholding rates for my country?
This list shows the tax rates per country. If your country is not on the list, a 30% withholding will apply to your US source earnings. You can find a list of treaties by countries that maintain tax treaties with the U.S. on this IRS webpage.
How do I change my account status from individual to business or business to individual?
Please review this article to learn about changing your account from personal to business. If you’d like to change your business account to a personal account, please follow the steps outlined here.
How do I know if my W-8BEN form was approved?
You can always see your current tax status on the Tax Center.
What if I still have questions?
Shutterstock cannot give personal tax or legal advice. If you still have questions about taxes after reviewing the information in the Tax Center, please contact your legal and/or tax advisor.
If you have questions about the information in your Shutterstock account, please contact us.