As an international shareowner, there are additional considerations that may apply to you.
As an international employee, it is recommended you sign on to your Shareowner Online account and consider completing a Form W-8BEN to establish your tax status before your shares vest. This ensures that you receive the proper U.S. tax withholding rate, per the tax treaty that the United States may have with your country. Tax treaties may allow residents of foreign countries to be taxed at a reduced rate, or to be exempt from U.S. withholding tax on certain items of income they receive from sources within the United States. Please note that any taxes that would apply in local jurisdictions are considered separately from the U.S. tax withholding requirements.
Please reference the International Employee W-8 User Guide to complete this task.
Have your Foreign Tax ID number available; most non-US employees must provide a Foreign Tax ID on the tax certification form. This identification number was issued by your country of tax jurisdiction (generally the country of your citizenship).
If you decide to sell your shares through EQ or if you receive any dividend payments (check, ACH, dividend reinvestment, or wire transfer), submitting a properly completed tax form will document your tax residency status and allow you to receive the proper tax treatment.
If you have an existing account with EQ that has a valid Form W-8BEN on file, no further action is needed. Generally, a Form W-8BEN is valid until the end of the third calendar year following the year in which it was signed.
A Form W-8BEN should be provided for each account if you have multiple EQ accounts.
International payment options
The following options are available for your dividend payments or share sale proceeds:
International ACH—Direct deposit to a foreign bank account in the local currency mandated by the ACH (Automated Clearing House) network.
International wire transfer—in local currency or U.S. dollars (where the account can receive that currency).
A physical check issued in U.S. dollars—this is the default payment option for dividend payments and proceeds from the sale of shares.
International ACH and wire transfer payment options for sale transactions have an associated fee that will be disclosed when executing the sale on shareowneronline.com. There is no cost to you for international ACH or wire transfer payment of dividends.
Remember that you will also be able to reinvest any dividends earned and apply those funds toward the purchase of additional shares of Wells Fargo & Company common stock through the dividend reinvestment program in lieu of receiving dividend proceeds in cash. See the section of this website that refers to increasing your investment in Wells Fargo & Company common stock.
If I sell my shares, what policies am I required to follow?
Wells Fargo & Company’s “Insider Trading Policy” (the Policy) is contained in its Employee Code of Ethics and Business Conduct (Code of Ethics) and provides that Wells Fargo employees (defined as employees of Wells Fargo & Company and its subsidiaries (“WFC”) are prohibited from buying or selling securities or tipping others while in possession of material, nonpublic information. This prohibition applies to any sell transactions initiated by employees related to vested shares resulting from a restricted share rights (RSR) grant.
In addition, certain employees are required to obtain transaction pre-clearance prior to executing any transactions in the securities of corporate issuers including WFC. This pre-clearance is necessary to ensure compliance with regulatory expectations and avoid the appearance of any wrongdoing. Wells Fargo wants to ensure that any transactions involving the securities of WFC, executed by our employees, is transparent, honest and ethical, and that our employees don’t misuse any information regarding WFC which may not be available to the general public and could provide the team member with an unfair advantage.
Wells Fargo employees are obligated to be familiar with and abide by the provisions of the Code of Ethics and line of business personal investment/account dealing policies and procedures.