Rohan Sewani

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If you work with clients abroad, Skydo gives you international accounts to receive their payments from 150+ countries. You get zero FX margin, a flat fee, and instant FIRA, and you can track every payment in real time.

Getting set up takes about 5 minutes. This guide walks you through every screen, so you know exactly what to expect before you start.

What Do You Need Before You Sign Up on Skydo?

Have the following documents and bank details ready before you begin. This will help you complete the sign-up process without interruptions.

Head to the Skydo homepage and click Get Started at the top right.

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Enter your name and mobile number. If you’d like account updates on WhatsApp, keep that box ticked. Then click Get Global Accounts.

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Next, add your email. You can log in with Google, or type in your email and click Send OTP.

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Check your inbox for a 6-digit OTP, enter it and click Verify OTP. Spotted a typo in your email? Click “edit here” to fix it.

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Your account is created, and you’re ready for KYC.

Now enter your PAN and click Verify PAN. This is how Skydo verifies your business identity. If you’re a Pvt Ltd, partnership or HUF, use your business PAN. Freelancers and sole proprietors can use their personal PAN.

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Once your PAN is verified, Skydo asks a few quick questions about your international business:

Click Confirm and Continue, and you’re already 45% of the way there.

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Step 3: Verify Your Aadhaar With DigiLocker

Aadhaar verification happens through DigiLocker and only takes a few seconds. Click Verify Aadhaar via DigiLocker to get going.

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On the DigiLocker screen, enter your Aadhaar number and click Next.

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If you already have a DigiLocker account, enter your 6-digit Security PIN and click Done.

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DigiLocker then asks what you’d like to share with Skydo. Tick Aadhaar Card and click Allow. Skydo receives your Aadhaar card along with your name, date of birth and gender for KYC, and your consent is valid for 30 days.

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You’ll land back on Skydo with your Aadhaar marked Verified. Check the name Skydo should address you by, then click Verify next to your mobile number. Your international accounts will be linked to this number.

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Enter the 4-digit OTP sent to your phone and click Continue.

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Link your Indian bank account where you want to settle payments received through Skydo. Enter the account number and IFSC code of the bank account you’d like your payments transferred to. The account should be in your name. Want to use a different account? Click Change bank account.

Skydo then asks one question: has this account received any international payments in the last 3 months? Your answer decides which document you’ll upload next. Pick Yes to upload a bank statement or other documents, or No to upload a signed contract or other documents. Then click Submit and Continue.

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Step 5: Upload 1 Document and You’re Done

You’re at 90% now. All that’s left is 1 document that shows your business activity.

The recommended option is your last 3 months’ bank statement for the account you just added. Drag it into the box or click Browse. Make sure it’s a valid bank statement that covers the last 3 months and shows foreign payments, as a PDF of up to 10 MB. Go this route and you can start receiving payments instantly.

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Don’t have that statement? Choose from other documents instead. Skydo verifies these manually, and you can start receiving payments once that’s done.

Once your document is in, you’ll see “We are verifying your details” while Skydo sets up your international accounts. This will typically take a few seconds.

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And then your international accounts are created. Your dashboard shows your Skydo USD account details and how much you could save based on the volume you entered. Click “Yes, I want to get started” to receive your first payment, or “No, I have more questions” if you’d like some help first.

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That’s all it takes. In just 5 minutes, you can complete the setup and have your international accounts ready to receive payments from your clients.

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A W-8 form is an official U.S. Internal Revenue Service (IRS) document used by non-U.S. individuals and businesses to certify their foreign status and claim tax treaty benefits. It helps the US tax payer determine whether tax withholding applies in the States and, where relevant, whether a reduced treaty rate or exemption can be claimed. The completed form is given to the client, platform, bank, or other withholding agent, rather than sent directly to the IRS.

For certain types of U.S.-source income paid to foreign persons, the default U.S. withholding rate is 30%, unless a lower treaty rate or exemption applies. The applicable rate depends on the type and source of income.

U.S. source income can include items such as interest, dividends, royalties, rents, and compensation for services performed in the United States, along with certain other types of income.

For personal services, the key factor is generally where the work is physically performed. Therefore, an Indian freelancer who performs services entirely from India will generally have foreign-source service income from the U.S. tax perspective, even when the client is based in the United States.

An Indian resident may need to submit a W-8 form when receiving payments from a U.S. client or platform. The form helps the payer confirm that the recipient is a foreign person.

If you’re an Indian freelancer working entirely from India, your income from those services is generally considered foreign-source because you perform the work outside the U.S. So, the payment is generally not subject to U.S. federal withholding simply because your client is based in the U.S.

However, the rules can be different if you perform services in the U.S. In that case, U.S. tax and treaty rules may apply, and the required form depends on the type of income and the treaty provision you’re claiming. For certain personal-service treaty claims, Form 8233 may be relevant instead of Form W-8BEN.

Indian individuals and businesses may need to provide a W-8 form when receiving certain payments from U.S. clients or other U.S. payers. The correct form depends on who is receiving the income, the type of income, and the U.S. tax rules that apply.

For an Indian freelancer performing services entirely from India for a U.S. client, the services are generally performed outside the United States and the resulting personal-service income is generally foreign-source. That means the freelancer does not become subject to U.S. withholding simply because the client is American. The appropriate documentation still depends on the payer's requirements and the nature of the payment.

If U.S. tax has actually been withheld from eligible foreign income, an Indian taxpayer may be able to claim a <a href="https://www.skydo.com/blog/foreign-tax-credit-form-67">foreign tax credit in India</a>, subject to the applicable rules and documentation.

What Are the Different Types of W8 Forms?

The five types of W-8 forms are W-8BEN, W-8BEN-E, W-8ECI, W-8EXP, and W-8IMY. Each form is designed for a different type of foreign individual, entity, intermediary, or income situation under U.S. tax rules.

How Do You Fill Out the W-8BEN Form as an Indian Resident?

To<a href="https://www.skydo.com/blog/filing-w-8ben-and-w-8ben-e-a-guide-for-indian-freelancers-and-businesses"> fill out Form W-8BEN </a>as an Indian resident, complete Part I with your identification details, Part II if you are claiming applicable treaty benefits, and Part III with your certification and signature. For Indian residents, the key details include your PAN as your foreign tax identification number and your permanent residential address in India.

Keep these India-specific points in mind:

What are Some Common Mistakes to Avoid While Filling out W8 Form?

Common W-8 mistakes usually involve choosing the wrong form, entering incorrect tax or identification details, making unsupported treaty claims, or failing to keep the form current.

A W-8BEN generally remains valid from the date it is signed until December 31 of the third succeeding calendar year, unless a change in circumstances makes the information on the form incorrect. For example, a W-8BEN signed at any point in 2026 would generally remain valid through December 31, 2029.

<a></a>When Does W-8BEN Validity End Early?

A W-8BEN may become invalid before its normal expiry date if a change in circumstances makes information on the form incorrect. This can include:

Submit a new W-8 form before the existing form expires if you will continue receiving payments that require the form. If a change in circumstances makes the information on a W-8BEN incorrect, the IRS generally requires you to notify the withholding agent within 30 days and provide a new W-8BEN or other appropriate form.

If a valid W-8 is not provided when required, the withholding agent may have to apply the withholding rate applicable to the payment, which can include the 30% rate for certain U.S.-source income. The exact consequence depends on the type of income and the applicable withholding rules.

What Happens If You Don't Submit the W8 Form?

If you do not submit a valid W-8 form when required, a U.S. payer may have to withhold tax at the applicable rate on payments subject to U.S. withholding. For certain U.S. source income, this can be 30%. Without the required form, you may also be unable to claim applicable treaty benefits.

The main difference between Form W-9 and the W-8 series is who provides the form, since W-9 is used by U.S. persons, while W-8 forms are used by foreign individuals and entities to establish their foreign status for U.S. tax purposes.

For Indian freelancers, a U.S. client may sometimes send a W-9 as part of its standard onboarding process. Do not complete it if you are not a U.S. person. Instead, tell the client that you are a foreign individual and provide the appropriate W-8 form, generally Form W-8BEN if applicable.

Related Read: <a href="https://www.skydo.com/blog/understanding-form-15-ca-cb-comprehensive-guide">Comprehensive guide to Form 15CA/CB</a>.

How Does Skydo Help Indian Freelancers Get Paid After Filing W-8 Form?

Once an Indian freelancer has completed Form W-8BEN and the U.S. client is ready to pay, the next step is receiving the payment efficiently and with clear fees. <a href="https://www.skydo.com/">Skydo</a> is a cross-border payment platform built for Indian freelancers and exporters, offering flat-fee pricing instead of percentage-based charges on most payments.

Remitly Transfer (USD→INR): Fees, Limits, Compliance — and a Better Business Alternative

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Form W-8BEN-E is an IRS form used by foreign entities to certify their status as non-US entities for US tax withholding and reporting purposes. Its full title is Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities). A foreign entity generally submits it to establish its eligibility for the appropriate withholding treatment on US-source income, rather than automatically being subject to the standard 30% US withholding rate where that rate applies.

Form W-8BEN-E is used by non-US entities such as corporations, partnerships, LLPs, trusts, and other legal entities. The form has two key functions:

Form W-8BEN-E is not filed with the IRS. The foreign entity gives the completed form to the US payer, withholding agent, or other party requesting it.

A foreign business entity receiving US-source income may need to complete Form W-8BEN-E when the US payer or withholding agent requests documentation of its foreign status. The W-8BEN-E form comes under the <a href="https://www.skydo.com/blog/w8-form-explained-what-indian-residents-must-know">W8 form</a> which is specifically given to the payer or withholding agent, and not sent to the IRS.

The form is generally used by foreign corporations, partnerships, LLPs, trusts, and nonprofits. Individuals do not use W-8BEN-E, even when they work as freelancers or operate a small business personally. They generally use Form W-8BEN instead.

Note that the key distinction here is entity versus individual, and not the business size.

The US payer or withholding agent is responsible for requesting the appropriate tax form and applying withholding when valid documentation is not provided. If the required form is missing, incomplete, or invalid, the payer may have to apply the applicable default withholding rate, which can be 30% for certain US-source payments.

Larger US companies, including major technology companies, may request W-8BEN-E as part of their vendor onboarding and tax-documentation process.

The form should generally be provided before the payment is made, credited, or allocated. If you receive payments from multiple US withholding agents, each payer may request its own form.

How to Fill Out Form W-8BEN-E as an Indian Entity?

For a typical Indian operating company, the key parts of Form W-8BEN-E are Part I, Part III if claiming treaty benefits, Part XXV if the entity qualifies as an Active NFFE, and Part XXX for certification. However, the exact sections required depend on the entity's US tax and FATCA status, and hence, not every Indian business will complete the same parts. The current IRS form is Rev. October 2021 and should be downloaded from the IRS website.

You can complete the form electronically or by hand and give the completed form to the US payer or withholding agent.

<a></a>Step 1: Part I, Line 1: Name of Organisation

Enter the entity's exact legal name as registered. Do not use a brand name, trading name, or informal abbreviation. For example, enter “Zephyr Software Solutions Private Limited”, rather than “Zephyr Tech.”

<a></a>Step 2: Part I, Line 2: Country of Incorporation or Organization

Enter “India” if the entity was incorporated or organized in India. This refers to the entity's country of organization, not where the services are performed.

<a></a>Step 3: Part I, Line 4: Entity Type (Chapter 3 Status)

Select the US tax classification that best describes the entity. For example, an Indian Pvt Ltd company may generally be classified as a Corporation, while an LLP or partnership may fall under Partnership. The US classifications do not map perfectly to every Indian legal structure. Hence, this field should be completed based on the entity's US tax treatment rather than simply matching its Indian registration label.

<a></a>Step 4: Part I, Line 9b: Foreign Tax Identifying Number (FTIN)

Enter the entity's PAN as its foreign tax identifying number. Do not confuse this with Line 8, which is for a US TIN. If an FTIN is legally required and you are claiming treaty benefits, the IRS generally requires a US or foreign TIN for the treaty claim, subject to applicable exceptions.

Also Read: <a href="https://www.skydo.com/blog/foreign-tax-credit-form-67">How to Claim Foreign Tax Credit with Form 67</a>.

<a></a>Step 5: Part III: Claim of Tax Treaty Benefits

Complete Part III only if the entity is claiming benefits under the India-US tax treaty. Enter India as the treaty country and provide the applicable treaty article and paragraph on Lines 14 and 15, along with the required limitation-on-benefits (LOB) certification. The correct article and withholding rate depend on the type of US-source income and the entity's eligibility. Indian service exporters should not assume that treaty benefits automatically reduce US withholding to zero.

Select Active NFFE only if the entity meets the IRS requirements. The entity must be a foreign entity that is not a financial institution, have less than 50% of its gross income from passive income for the preceding calendar year, and have less than 50% of its assets producing or held to produce passive income, calculated using the required quarterly asset test. An operating Indian business may qualify, but this status should not be selected solely because the business is a Pvt Ltd company, LLP, or partnership.

<a></a>Step 7: Part XXX: Certification and Signature

An authorised individual must sign Part XXX and provide their printed name and date. By signing, the individual certifies under penalties of perjury that the information is true, correct, and complete and that they have authority to sign for the entity. An electronic signature can also be used where permitted under the IRS rules.

The remaining parts of the 30-part form deal with specialised FATCA and entity classifications. A typical operating Indian company may not need most of them, but it should not assume that only the four parts above apply without checking its specific status.

Bonus: <a href="https://www.skydo.com/blog/filing-w-8ben-and-w-8ben-e-a-guide-for-indian-freelancers-and-businesses">How to File W-8BEN and W-8BEN-E: A Guide for Indian Freelancers and Businesses</a>.

Form W-8BEN-E is not filed with the IRS. Give the completed form directly to the US client, withholding agent, platform, US bank, or financial institution that requests it.

You can submit it using the method specified by the requesting party. This may mean uploading it through a vendor or tax-document portal, as platforms such as Google, Upwork, or Shutterstock may do, or emailing it to the company's designated tax or accounting department.

If you work with multiple US clients or platforms, you generally need to provide a separate W-8BEN-E to each withholding agent. Note that a form submitted to one payer does not automatically cover another.

Submit the form before the first payment is made, credited, or allocated. If the payer does not have a valid form when required, it may have to apply 30% withholding or another applicable rate.

The US payer or withholding agent keeps the form in its records and may provide it to the IRS if required. You do not receive an IRS acknowledgment or filing receipt because the form is not submitted to the IRS.

What Are the Common Mistakes to Avoid While Filling Out Form W-8BEN-E?

The common mistakes to avoid while filling out Form W-8BEN-E include choosing the wrong tax form, selecting an incorrect Chapter 3 or Chapter 4 classification, leaving the foreign TIN incomplete, entering a name that does not match the legal entity, and using a form that is no longer valid.

Form W-8BEN-E is generally valid from the date it is signed until December 31 of the third succeeding calendar year, unless a change in circumstances makes the information on the form incorrect earlier. For example, a form signed in March 2026 would generally remain valid through December 31, 2029.

The validity period is calculated from the calendar year in which the form is signed, rather than as a simple 36-month period. So, a W-8BEN-E signed at any point in 2026 would generally remain valid through the end of 2029.

There is no automatic renewal when the validity period ends. The withholding agent may need to obtain a new W-8BEN-E before continuing to rely on the foreign entity's status for applicable payments. If valid documentation is unavailable, 30% withholding can apply to certain US-source payments subject to Chapter 3 or Chapter 4 withholding. This is not the same as US backup withholding.

The form can also become invalid before the normal expiry date if a change in circumstances makes information or a certification on it incorrect. This can include changes affecting the entity's tax status, FATCA or Chapter 4 classification, treaty claim, tax identification information, or other information on which the withholding agent is relying.

When such a change occurs, the entity must notify the withholding agent or financial institution within 30 days and provide the required updated documentation, which may include a new W-8BEN-E.

Note: The three-year period is the general rule. The IRS provides circumstances in which a W-8BEN-E, together with supporting documentary evidence, can remain valid indefinitely until a change in circumstances occurs.

What Happens if Form W-8BEN-E is Not Filled?

If a foreign entity does not provide a valid Form W-8BEN-E when requested, the US payer may have to withhold 30% from payments subject to Chapter 3 or Chapter 4 withholding, unless another valid form or documentation establishes a different treatment. The main consequences can include a substantial tax deduction, loss of an available treaty rate, and payment delays while the payer waits for the required documentation.

How Does Skydo Help After You Submit Form W-8BEN-E?

Once your W-8BEN-E is accepted, your US client can release the payment. From there, the receiving account, settlement process, and remittance records determine how smoothly you can manage your RBI and GST compliance in India. At this stage, when you use <a href="https://www.skydo.com/">Skydo</a>, you get:

For businesses handling export receipts, Skydo also supports <a href="https://www.skydo.com/blog/understanding-edpms-full-form-and-its-essential-role-in-export-management?">EDPMS</a>-related reconciliation and eBRC workflows, which can help connect payment realisation with export records.

How Long Does an International Wire Transfer Take?

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What Is Export Payment Reconciliation in Oracle NetSuite?

Export payment reconciliation in Oracle NetSuite is the process of matching international payment transactions recorded in your bank or payment gateway against the corresponding entries in your NetSuite general ledger (GL), so that your financial statements reflect accurate, verified balances.

For Indian exporters, the process confirms that every <a href="https://www.skydo.com/blog/export-realisation-guide">inward foreign remittance</a> received against an export invoice is correctly recorded, accounted for in the right currency, and supported by the required compliance documentation, such as a Foreign Inward Remittance Certificate (FIRC).

Here is an example. A Bengaluru-based software exporter raises an invoice for $5,000, and the client pays via SWIFT. After correspondent bank deductions, the amount credited to the bank is $4,963. Reconciliation in NetSuite is how the exporter traces, matches, and books that $4,963 against the original $5,000 invoice, and accounts for the $37 gap.

Why Export Payment Reconciliation Matters?

Export payment reconciliation matters because the amount an international client pays rarely equals the amount credited to your bank account, and every gap must be identified, explained, and correctly booked in NetSuite. The gaps come from four sources: bank charges, exchange rate differences, agreed deductions or discounts, and partial payments.

For Indian exporters, unreconciled export payments also create downstream compliance risk. Pending FIRC documentation, unmatched shipping bills, and open EDPMS entries can all result in regulatory scrutiny.

What Documents Do You Need Before You Start Reconciling in Oracle NetSuite?

Before you start reconciling in Oracle NetSuite, you need four things: an official bank or credit card statement, importable bank data files, prior reconciliation records, and <a href="https://www.skydo.com/blog/export-documents-attestation">supporting source documentation</a> such as trial balances, vendor bills, customer invoices, and payment receipts.

How Export Reconciliation Works in Oracle NetSuite? A Step-by-Step Guide

Export reconciliation in Oracle NetSuite works through the Bank Feeds or Advanced Bank Reconciliation modules, matching external bank or gateway transactions against your internal GL records in six steps. You export data from your financial institution, import the file, run automated matching rules, manually match what remains, review and submit, and then complete the Reconcile Statement screen.

Step 1: Export Data from Your Financial Institution

Step 4: Manually Match Remaining Transactions

Step 6: Complete the Reconcile Statement Screen

The $37 gap is posted as a bank charge expense. The exchange rate difference between the invoice date and the credit date is posted as a realised forex gain or loss. The reconciliation is complete only when all three figures (invoice amount, bank receipt, and booked INR amount) are accounted for and the NetSuite difference reads zero.

Here is how the three approaches to reconciling <a href="https://www.skydo.com/blog/cross-border-payments">cross-border payments</a> compare.

How Does Skydo Help Receive International Payments?

Gaps in NetSuite reconciliation start upstream, with unpredictable bank charges, missing remittance data, and delayed documentation. <a href="https://www.skydo.com/">Skydo</a> helps Indian exporters receive international payments cleanly by acting as a cross-border payment processing layer that eliminates all three.