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Our club holds MDT which shows as Ireland as the country but dividends are normal with no foreign tax withheld but our AEM shows as Canadian company/country but dividends have foreign tax withheld. Does someone have anything to share that I am missing about foreign tax?
 thank you, Mary Dearing
MIDDELIC
Tax treaties between the US and various countries and the taxation schemes within those countries. That's what determines whether tax is withheld and what rate it is withheld at.

Ira Smilovitz

On Tue, Feb 21, 2023 at 1:06 AM Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:
Our club holds MDT which shows as Ireland as the country but dividends are normal with no foreign tax withheld but our AEM shows as Canadian company/country but dividends have foreign tax withheld. Does someone have anything to share that I am missing about foreign tax?
thank you, Mary Dearing
MIDDELIC
Thank you Ira


On Tue, Feb 21, 2023 at 2:27 AM ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:
Tax treaties between the US and various countries and the taxation schemes within those countries. That's what determines whether tax is withheld and what rate it is withheld at.

Ira Smilovitz

On Tue, Feb 21, 2023 at 1:06 AM Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:
Our club holds MDT which shows as Ireland as the country but dividends are normal with no foreign tax withheld but our AEM shows as Canadian company/country but dividends have foreign tax withheld. Does someone have anything to share that I am missing about foreign tax?
thank you, Mary Dearing
MIDDELIC
Mary, ...our club held MDT in 2022 and our broker account ( Schwab) reports foreign tax withheld on the dividends. 

Ira, can you explain why Schwab reports tax withheld while Mary's broker "shows no foreign tax withheld"? 

And MDT is headquartered in Ireland. 

thanks

Seamus 


Sent from Yahoo Mail for iPhone

On Tuesday, February 21, 2023, 15:22, Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:

Thank you Ira


On Tue, Feb 21, 2023 at 2:27 AM ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:
Tax treaties between the US and various countries and the taxation schemes within those countries. That's what determines whether tax is withheld and what rate it is withheld at.

Ira Smilovitz

On Tue, Feb 21, 2023 at 1:06 AM Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:
Our club holds MDT which shows as Ireland as the country but dividends are normal with no foreign tax withheld but our AEM shows as Canadian company/country but dividends have foreign tax withheld.  Does someone have anything to share that I am missing about foreign tax?
 thank you, Mary Dearing
MIDDELIC

Medtronic plc has established tax residence in Ireland, and as such, dividends are considered Irish source income and Irish dividend withholding tax ("DWT") rules apply. Beginning with the dividend payable on April 15, 2015, payments will be subject to an Irish withholding tax unless the shareholder that is beneficially entitled to the dividend is a resident of the United States or a resident of a country listed as a "relevant territory", and has ensured that the required information is on file with their broker, bank, qualifying intermediary or transfer agent (see below for more detail). With these rules, the vast majority of Medtronic shareholders and beneficial owners are entitled to an exemption from DWT.

I would reach out to your broker and see what needs to be done to exempt yourself.

Ira Smilovitz

On Tue, Feb 21, 2023 at 6:42 PM seamus flanagan via bivio.com <user*35407200001@bivio.com> wrote:
Mary, ...our club held MDT in 2022 and our broker account ( Schwab) reports foreign tax withheld on the dividends.

Ira, can you explain why Schwab reports tax withheld while Mary's broker "shows no foreign tax withheld"?

And MDT is headquartered in Ireland.

thanks

Seamus


Sent from Yahoo Mail for iPhone

On Tuesday, February 21, 2023, 15:22, Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:

Thank you Ira


On Tue, Feb 21, 2023 at 2:27 AM ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:
Tax treaties between the US and various countries and the taxation schemes within those countries. That's what determines whether tax is withheld and what rate it is withheld at.

Ira Smilovitz

On Tue, Feb 21, 2023 at 1:06 AM Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:
Our club holds MDT which shows as Ireland as the country but dividends are normal with no foreign tax withheld but our AEM shows as Canadian company/country but dividends have foreign tax withheld. Does someone have anything to share that I am missing about foreign tax?
thank you, Mary Dearing
MIDDELIC
Thanks Ira!!!  I will now follow up with Schwab...

Seamus 


Sent from Yahoo Mail for iPhone

On Tuesday, February 21, 2023, 21:12, ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:


Medtronic plc has established tax residence in Ireland, and as such, dividends are considered Irish source income and Irish dividend withholding tax ("DWT") rules apply. Beginning with the dividend payable on April 15, 2015, payments will be subject to an Irish withholding tax unless the shareholder that is beneficially entitled to the dividend is a resident of the United States or a resident of a country listed as a "relevant territory", and has ensured that the required information is on file with their broker, bank, qualifying intermediary or transfer agent (see below for more detail). With these rules, the vast majority of Medtronic shareholders and beneficial owners are entitled to an exemption from DWT.

I would reach out to your broker and see what needs to be done to exempt yourself. 

Ira Smilovitz

On Tue, Feb 21, 2023 at 6:42 PM seamus flanagan via bivio.com <user*35407200001@bivio.com> wrote:
Mary, ...our club held MDT in 2022 and our broker account ( Schwab) reports foreign tax withheld on the dividends. 

Ira, can you explain why Schwab reports tax withheld while Mary's broker "shows no foreign tax withheld"? 

And MDT is headquartered in Ireland. 

thanks

Seamus 


Sent from Yahoo Mail for iPhone

On Tuesday, February 21, 2023, 15:22, Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:

Thank you Ira


On Tue, Feb 21, 2023 at 2:27 AM ira smilovitz via bivio.com <user*2883400001@bivio.com> wrote:
Tax treaties between the US and various countries and the taxation schemes within those countries. That's what determines whether tax is withheld and what rate it is withheld at.

Ira Smilovitz

On Tue, Feb 21, 2023 at 1:06 AM Mary Dearing via bivio.com <user*37728400001@bivio.com> wrote:
Our club holds MDT which shows as Ireland as the country but dividends are normal with no foreign tax withheld but our AEM shows as Canadian company/country but dividends have foreign tax withheld.  Does someone have anything to share that I am missing about foreign tax?
 thank you, Mary Dearing
MIDDELIC