Schwab Procedures:

If a participant has an international mailing address, we would be required to gather the following documentation depending on their circumstances:

1.    If the payee was born here in the U.S. and is living abroad we need a W-9 and confirmation that they are a U.S. citizen living abroad.
2.    If the payee was born in Puerto Rico or another US territory, we need a W-9 and a copy of their birth certificate or passport showing their place of birth.
3.    If the payee was born in another country and is not a U.S. person by other means, a W-8BEN is required. 

You will first need to reach out to the participant for the appropriate information using the canned response titled "International Distribution" under the Transactions category. Once we receive the necessary documentation IGO, this will need to be sent to Schwab for approval. 

Please reach out to Schwab (yourclientserviceteam@schwab.com) advising them that we have an international distribution being requested and we are seeking approval for their documentation before we proceed. Request that you be provided a secure upload link. They will send a separate email to allow you to send the participant's documentation to them securely. 

Once the documents are approved by Schwab, please upload the participant's documents to the PC record along with a copy of the approval email from Schwab and add a DMC alert stating that the W-9 or W-8BEN was reviewed/approved by Schwab.

Matrix & MATC:

These custodians have confirmed they do not require any supporting documentation.