Taxes Withheld on Income from US Issued Bonds

Dear Valued Client,

We are writing to inform you that taxes withheld in 2026 have now been credited back to your account.

However, as previously communicated in April 2026, please note that if a valid tax form has not been received, a 30% withholding tax will continue to be applied on interest earned from U.S. bonds going forward. Kindly be advised that SIJL cannot guarantee the recovery of any taxes withheld prior to the remediation of your account.

Your account remains subject to the 30% withholding tax in 2026 until the appropriate documentation is provided and a confirmation email is provided by SIJL indicating that the form is valid.

For your convenience, the relevant tax forms have been attached to this email.

Required Action

To ensure your account is properly updated, please complete the following steps:

• Complete the applicable IRS tax form:
  • Form W-8BEN for individual clients; or
  • Form W-8BEN-E for entity clients.
• Ensure all required information is accurate and the form is properly signed.
• Complete the affidavit included at the end of the form.
• Submit the completed documents to sijltransactions@scotiabank.com and copy your current advisor as soon as possible.

SIJL is committed to facilitating the submission of your forms. However, neither Scotiabank nor its employees are authorized to provide tax advice. General information is available at: https://www.scotiabank.com/global/en/fatca.html.

Please note that Scotiabank employees cannot complete, certify, or verify tax forms on a client’s behalf. For guidance on completing the forms or understanding specific tax requirements, we recommend consulting your qualified tax advisor. Questions related solely to the submission process may be directed to your SIJL representative.

Thank you for your prompt attention to this matter.