Qualified Intermediary (QI) Status and collecting royalties from the US
In 2009, PPL was granted Qualified Intermediary status by the US Internal Revenue Service (IRS) which allows PPL to collect all US revenue without the deduction of withholding tax at source. PPL is then responsible for deducting the correct rate of tax based on the tax treaty between a member’s country and the US. This means that we can pay through up to 30% more of US revenue that would otherwise have been held back in tax.
To benefit from PPL’s QI status and maximise royalties from the US, members are required to complete a US revenue form to allow PPL to apply the reduced treaty rate of tax. Most treaties reduce the rate of tax to 0% and once completed the forms are usually valid for 3 years. If a member does not complete the form, we are obliged to return the 30% withholding tax to the IRS.
More information
If you need to complete the form, we will contact you. If you have been contacted and asked to complete a form but have not yet returned it, now is the time to do so.
To check your US Tax Form status, please login to myPPL and click on Accounts.
If you have any questions or need any help filling out the forms, please contact the PPL Member Services team by calling 020 8068 1054 or emailing memberservices@ppluk.com.
