I just opened a BOA borkerage account and since I accidentally made a mistake by selecting status as 'US citizen' while I am acutally 'US resident', I called them asking how I can change the status. They were saying that I need to fill in W8 form (downloaded from IRS) and send it to them. Did anyone know what is the purpose of this W8 Form? I remembered that when I opened TD waterhouse or fidelity brokerage, they never asked me about the immigration status (whether I am US citizen or resident etc.), just wondering why BOA is doing it, and what tax impact it would make if I filled in W8? Any JM would enlighten in this? Thanks.