I have three questions. I am in New Zealand and I've been paid and had taxes withheld. What can I say - I'm a slacker. Now I have an EIN number and I've printed off W8-BEN.
1. Where do i send it? What is the amazon address?
2. I saw a comment up there about getting paid my EFT when you don't live in the US. Really? I only have a kiwi bank account. I think the ony way is cheque - am I right? (apart from the Australian sales?)
3. I read once I need to get around to sending in the W8-BEN because Amazon doesn't keep that 30% forever.
Yes, you have to send Amazon the W8-BEN form, once you have your ITIN or EIN. I don't know the address offhand (as an American, I'm fortunate in not having had to file it). Doesn't it say on the form? If you can't find the address, try asking in the Account forum (or scan that forum for info). This should drop your withholding rate. I know in Australia you still have to pay 5% US taxes. Is NZ the same?
I believe you have 3 years to get back money that was withheld and shouldn't have been. To get it back, you'll need the US tax form 1040-NR, available from the government tax site (irs.gov). You would need one for each year during which 30% of your royalties were withheld. Wait until your number and W8-BEN are all approved.
Australians can now get direct deposit/EFT, and I believe Kiwis can as well. However, there has been a big discussion about whether it's worth it, because some banks charge a big fee for depositing an overseas wire deposit, even if it's in AUD. (I assume you have your own NZD?) Talk to your bank about this. Compare it to the cost of cashing a check drawn in USD. EFT payments can be small if you didn't sell much one month--would the fee eat it all up? Thee's been a lively discussion of this on the Account forum (first one).
Now (2015) you don't need an ITIN or EIN any more. You can fill out the tax questionnaire with the tax number from your own country, and you won't have to mail in anything (it's on line).
The form is provided by the IRS and you send it to your distributors. As far as I'm aware Amazon is withholding, not the IRS so I don't think I need to send any forms to the IRS? When I find Amazons mailing address or an option to fax I will post it here to update the thread.
Amazons cheques attract no fees at the BNZ by the way. I'll check about EFT payments.
Amazon withholds taxes, as required by US law, but they send them to the US tax authorities (IRS, Internal Revenue Service). So if you're claiming back tax money that was withheld, you have to get it from the IRS.
You do have to send the W8BEN to Amazon to get them to stop withholding.
The Account Issues forum is the best place for this--this thread is aimed mostly at people who aren't sure if or when or how they'll be paid at all.
As of early February, there's a new "payment report" under Reports. There's only one entry so far, November 2013 royalties earned (which were paid at the end of January), but they're going to be adding to it every month. So you can look back and see how much you were actually paid each month of the year (once a year has gone by…).
Remember, royalties are income, and you have to pay tax on them. You only pay tax for 2013 (due this spring) for payments actually received in 2013. So if you made sales in November and December, those royalties won't have been paid to you until January and February 2014 (or even later if you're paid by check), so you won't have to pay taxes on those sales until next year.
Is Anybody else missing their payments for the first time or is it just me? I have gotten all of my payments like clock work for 2 years. Suddenly my payents for the month of February, have not showed up both for KDP and Createspace. Is this just happening to me? My payments say "paid" but I have not gotten any checks. Where is my money?
I answered your other thread, which at the time was right next to this one. A check can take a week or more to arrive. Because this is an author forum, you'll have to contact Amazon directly if it still hasn't appeared.
Q My mother lent my sister my KDP book, but I never saw an indication of the "borrow" on my reports. Why not?
A You're confusing lending and borrowing. I know, it's confusing, especially since Borrowing is through the Kindle Owners Lending Library (KOLL), which has the word "lending" in it. But they're very different. Think about "lending" and "borrowing" as distinct, and attach KOLL in your mind only with borrowing, without worrying about what it stands for.
Someone who has bought a KDP book may, only once, "lend" it another person, for 2 weeks. For two weeks, it disappears from the buyer's Kindle and appears on the other person's. After two weeks, the process is reversed. The author of the book will not know that this has happened. No money is involved. If you are getting 70% royalties, all your books are eligible for lending, and you can't stop it.
(But it's not a big deal, as each buyer can only ever lend it once, and most will never do so.)
On the other hand, any book enrolled in KDP Select (not just KDP), can be "borrowed." What this means is that someone who owns a Kindle can 'borrow" one free book every month. Next month, if they borrow a different book, the first one disappears from their Kindle. These borrows show up in their own column on the month-to-date report. They don't appear on the 6-week report, but they will appear on the "prior month" report. You earn royalties from them, roughly $2 each (the exact amount varies month to month). Some people receive a sizable proportion of their income from borrows.
Q I just got my remittance email, but the amount to be paid is blank! What's wrong?
A Yes, it's confusing if you're used to the old system. As of February, the remittance emails won't have the amount being paid into your account on them. Instead, they direct you to the Payments Report. There, shortly after the email arrives, a payment line will appear, showing all sorts of things that were never on the old remittance emails: not just amount to be paid into your account, but amount in original currency, conversion rate, and any tax withheld.
Amazon explained this in the Announcement (posted on the main Community page Feb. 3) about the new Payments report.
I also did not get paid this month (February 2014) my account says a check was issued for KDP on January 30th, 2014 but still no sign of it. It is now February 20th and still waiting. (usually it arrives in 9 or 10 days - I am in Canada) Sent an email to Amazon support yesterday but no reply yet. Also they did not acknowledge the email; usually they say they are working on it and will reply in 24hrs. Seems a bit strange.
Received a reply from support to wait a full month prior to requesting a replacement check. Oh well, I guess better late than never. I did not realize how much I am coming to depend on this revenue source.
Hi! I have a question since I'm new at this if you don't mind helping please?
I know that I've sold more on Kindle and also on Amazon itself for print, because I've had people tell me that they've bought the books, though I'm not seeing those higher amounts showing up on my reports. Is there a lag time for books to show up on the royalty reports? Maybe that they don't post instantaneously, post daily or whatever? (maybe just "banking business hours" etc).
Also, I saw you posted a topic about Smashwords and publishing there. I am on Smashwords as well, however opted out of Kindle Delivery because I had heard it was not permitted to overlap with delivery from KDP and there simultaneously. I want to be sure this is correct please. If I'm permitted to do both, I will also activate delivery from Smashwords.
Thanks so much! I look forward to your reply.
Edited by: Jennifer Jean Miller on Feb 22, 2014 10:50 AM