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This version of the form is not currently in use and is provided for reference only. Download this version of
Form PW-2 (IC-005)
for the current year.
Form PW-2 (IC-005) Wisconsin Nonresident Partner, Member, Shareholder, or Beneficiary Pass-Through Withholding Exemption Affidavit - Wisconsin
What Is Form PW-2 (IC-005)?
This is a legal form that was released by the Wisconsin Department of Revenue - a government authority operating within Wisconsin. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form PW-2 (IC-005)?
A: Form PW-2 (IC-005) is the Wisconsin Nonresident Partner, Member, Shareholder, or Beneficiary Pass-Through Withholding Exemption Affidavit.
Q: Who uses Form PW-2 (IC-005)?
A: Form PW-2 (IC-005) is used by nonresident partners, members, shareholders, or beneficiaries to claim exemption from pass-through withholding in Wisconsin.
Q: What is pass-through withholding?
A: Pass-through withholding refers to the requirement of withholding a portion of income from nonresident partners, members, shareholders, or beneficiaries by the pass-through entity.
Q: What is the purpose of Form PW-2 (IC-005)?
A: The purpose of Form PW-2 (IC-005) is to declare the exemption and provide necessary information to the pass-through entity so that no withholding is done on their share of income.
Q: When should Form PW-2 (IC-005) be submitted?
A: Form PW-2 (IC-005) should be submitted to the pass-through entity before the first distribution of income during the taxable year in which the exemption is claimed.
Q: Is there a deadline for submitting Form PW-2 (IC-005)?
A: There is no specific deadline mentioned for submitting Form PW-2 (IC-005), but it should be submitted before the first distribution of income.
Q: What happens if Form PW-2 (IC-005) is not submitted?
A: If Form PW-2 (IC-005) is not submitted, the pass-through entity may withhold taxes from the nonresident partner, member, shareholder, or beneficiary's share of income.
Q: Do I need to file Form PW-2 (IC-005) every year?
A: Form PW-2 (IC-005) needs to be filed only once unless there is a change in circumstances, such as a change in the exemption status or a change in the pass-through entity.
Q: Can I claim exemption from pass-through withholding if I am a resident of Wisconsin?
A: No, Form PW-2 (IC-005) is specifically for nonresident partners, members, shareholders, or beneficiaries to claim exemption from pass-through withholding in Wisconsin.
Form Details:
- Released on April 1, 2020;
- The latest edition provided by the Wisconsin Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form PW-2 (IC-005) by clicking the link below or browse more documents and templates provided by the Wisconsin Department of Revenue.
Download Form PW-2 (IC-005) Wisconsin Nonresident Partner, Member, Shareholder, or Beneficiary Pass-Through Withholding Exemption Affidavit - Wisconsin
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