As a shareowner, there are tax consequences to consider regarding dividends.
When Wells Fargo declares and pays cash dividends to shareowners, those payments are treated as taxable income for the calendar year the dividend is paid.
U.S. residents generally can expect to receive the gross amount of dividends reported at year-end on IRS Form 1099-DIV.
Non-U.S. residents generally can expect to receive the gross amount of dividends reported at year-end on IRS Form 1042-S. It is important to note that non-U.S. residents who do not have a valid Form W-8BEN on file will be treated as a U.S. resident subject to Federal backup withholding.
To receive the proper treaty rate for Non-Resident Alien withholding, complete a Form W-8BEN. See the “International Employee W-8 user guide” for instructions to complete and submit a Form W-8BEN.
If you choose to sell your shares, there may be tax consequences for you.
Generally, sales of securities by U.S. residents, or non-U.S residents who do not have a valid Form W-8BEN on file are reported to the IRS as gross proceeds on Form 1099-B at year-end.
Neither Wells Fargo nor EQ are able to provide tax advice. If you have questions regarding the tax consequences related to your RSRs please consult with your tax advisor.