What Canadian investors need to know about investing in U.S. publicly traded partnerships
I recently completed two trades on a sale of AllianceBernstein (AB) shares in both my non-registered and registered accounts, resulting in a 10-per-cent U.S. withholding tax on the entire gross proceeds of the sale, even though my gains on the stock were basically breakeven.
My brokerage account system allowed me to invest the entire proceeds and not withhold the tax, resulting in overdrafts in both accounts.
I have a W-8BEN form for U.S. non-residents, which I filed with the bank.
Did the broker perform this withholding correctly? Is there a way to claim these proceeds back?
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