FATCA agreement and Forms W-9, W-8 BEN, W-8 BEN-E
What is FATCA agreement?
The Foreign Account Tax Compliance Act (FATCA) requires a
participating foreign financial institution to report all United States
account holders (individuals and entities) who hold an account in that institution. Israel signed the FATCA agreement in 2014. For this purpose, the financial institutions have to classify their customer whether he/she/it is a U.S. person, to obtain their taxpayer identification number as well as some additional personal information.
A U.S. Person (mainly U.S. citizen, resident or a U.S. entity) required to complete form W-9, foreign Individuals complete form W8-BEN, and foreign entities complete form W8-BEN-E.
Form W-9
Information Needed on Form W-9
Form W-9 asks for the U.S. taxpayer's name, business name (if different), business entity (individual, partnership, C corporation, S corporation, trust/estate, limited liability company, and the tax identification number (Social Security number (SSN) for individuals, Employer identification number (EIN) for entities). 
Form W-9 also asks the person filling it out to certify that they are not subject to backup withholding. Many taxpayers are not, but if they are, the requester will need to withhold income tax from the future payments at a flat rate of 24% (previously 28%) and send it to the IRS.
The most common reason Israelis will be requested to fill out form W-9 is by their financial institution. If you have failed to report all interest and dividends on your tax return you might be notified by the IRS that you are currently subject to backup withholding.

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Certifications required on Form W-9
By signing the filled-out form, you:
1. Certify that the full name and SSN/EIN you are giving is correct (or you are waiting for a number to be issued),
2. Certify that you are not subject to backup withholding
Don't forget to annually file the FBAR and Form 8938, if you are required to do so.
Form W-8 BEN
Certificate of Foreign Status of Beneficial Owner for Individuals
Submit Form W-8 BEN to the withholding agent or payer (such as financial institution or real-estate holding partnership) if you are a foreign (non U.S.) individual and you are the beneficial owner of an amount subject to withholding. Failure to complete this form may result in 30% withholding on income paid to you from sources within the United States such as interest, dividends, rents, and royalties.
Form W-8BEN-E
Certificate of Foreign Status of Beneficial Owner for Entities
Submit Form W-8BEN-E to the withholding agent or payer (such as financial institution or real-estate holding partnership) if you are a foreign (non-U.S.) entity and you are the beneficial owner of an amount subject to withholding. Failure to complete this form may result in a 30% withholding on income paid to you from sources within the United States such as interest, dividends, rents, and royalties.
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Form W-8 BEN-E has 32 potential classifications for entities and therefore requires professional judgment. Some of the classifications will require the entity to identify and list all its U.S. shareholders/partners in the form.
Generally, Forms W-8 BEN and W-8 BEN E will remain in effect for purposes of establishing foreign status for a period starting on the date the form is signed and ending on the last day of the third succeeding calendar year, unless a change in circumstances makes any information on the form incorrect. For example, a Form W-8BEN signed on September 30, 2020, remains valid through December 31, 2023.