從已關的賬戶中提取資金
簡介
客戶如選擇關戶，則應在關戶前取走或轉走賬戶中的全部現金及證券餘額。賬戶一旦被關閉，就無法再進行交易。然而，在少數情况下，可能會有資産被存入已關的賬戶。正如在關戶時向客戶披露的，鑒于已關賬戶不再能使用交易平臺兌換貨幣，被存入已關賬戶的現金餘額不論金額大小，都將自動被兌換爲基礎貨幣。
下文將介紹前述情况發生的背景以及客戶應如何提取相關資産。
關戶後産生餘額
儘管關戶後通常不會再有資産存入，但在以下情况下仍可能導致賬戶産生餘額：
- 關戶時選擇通過支票提取賬戶餘額，而客戶未在90天內兌現該支票，進而導致支票交易被IBKR取消；或者，由于支票遺失、被盜或未送達，客戶要求止付。
- 關戶時選擇通過電子渠道（如電匯、ACH、EFT）提取賬戶餘額，但資産後被接收銀行退回了IBKR。這可能是由于客戶在接收銀行處的賬戶已關閉或IBKR的賬戶名稱和銀行的賬戶名稱不一致（如第三方轉帳的情况），導致接收銀行拒收幷退回資金。
- 賬戶被關後收到了之前多扣的股息稅退還的稅款。
- 開戶人在賬戶未成功開立前向賬戶存入了資金，而該賬戶一直未被IBKR批准或被開戶人遺弃。
- 關戶時選擇將資産轉至其它經紀商，但資産在關戶後被經紀商退回。
提取資産
要提取現金，請登錄客戶端，依次選擇轉帳與支付和轉帳資金菜單，然後系統會顯示可用的取款方式及您在賬戶開立狀態時創建的銀行存取款指令列表。選擇一個適用于要提取的幣種的可用存取款指令。
如您的賬戶內有持倉，請聯繫退回持倉的經紀商，請求將該筆持倉重新轉回。請注意，您無法通過已關閉的賬戶提交委托單平倉。
常見問題解答
問：如果我不記得我的登錄驗證信息、無法登錄客戶端怎麽辦？
答：如您需要登錄賬戶方面的幫助，請致電您當地的客服中心。爲防止無授權的用戶登錄您的賬戶，此類請求需要口頭驗證您的身份。聯繫信息請見我們的網站。
問：我如何確定我賬戶中的餘額？
答：您可通過賬戶活動報表瞭解賬戶餘額及其組成。每日、每月及年度報表可通過客戶端的報告/稅務報告菜單在綫查看。
問：我可否重開已關閉的賬戶？
答：已關閉很長時間且只是爲了提取資産而申請重開的賬戶通常不能重開。如您希望重開賬戶幷長期使用我們的經紀服務，請聯繫您當地的客服中心獲取幫助。
問：如果我希望通過支票提取資金而我的地址變了會怎麽樣？
答：如果您的賬戶可通過支票提取資金（只支持美元取款且要求客戶有美國的郵寄地址）而您記錄在我們這裏的地址不再準確，則您將無法在綫更改您的地址。在這種情况下，請聯繫客服告知我們您的最新地址，客服人員將指導您如何上傳駕照或其它可被接受的文件副本。
問：如果我想通過電子渠道取款而我的賬戶沒有有效的銀行存取款指令，這種情况下怎麽辦？
答：如果您目前沒有可用的銀行存取款指令，請登錄客戶端幷使用“轉帳與支付”菜單添加新的指令。請注意，IBKR有權通過口頭驗證及/或要求客戶提交文件的方式來驗證新的存取款指令。該驗證步驟旨在防止客戶因無授權的第三方轉帳而蒙受損失。
問：開戶實體的銀行賬戶被注銷了或實體不再存在了。這種情况下如何取款？
答：如果無法以關戶時的賬戶持有人的名義取款，則IBKR將嘗試按實體所有人的所有權比例來向所有人分配資金。請注意，這通常要求所有人提交文件來證明其身份及其所有權權益，幷提交有所有人簽字的保證和補償書，承諾其提供的信息是準確的，且除他們以外，沒有其它所有人或債權人對賬戶資金有索取權。IBKR也有權要求由律師提供獨立意見，證明所有人提供的信息的準確性。
問：如果我不采取行動來提取已關賬戶內的資産會怎麽樣？
答：IBKR會嘗試通過客戶留在我司處的郵箱來通知已關賬戶的持有人賬戶內有餘額。如果賬戶持有人在通知發出後30天內不采取行動取款，則將被收取20美元/月的已關賬戶費用。另外，還請注意，根據法規要求，IBKR有義務將“被遺弃賬戶”內的資産上交給客戶居住的州政府（如果客戶居住在美國以外，則上交給康涅狄格州）。對于賬戶多久無活動會被歸爲“不活躍”，各州的規定不同，但最短可爲3年。關于如何從州政府出取回無主財産的詳細信息，請見知識庫文章2599。
Withdrawing Funds from a Closed Account
Introduction
Clients who elect to close their account must first ensure that all balances (e.g., cash and positions) have been withdrawn or transferred before the account can be closed. Once closed, the account is then restricted from further transactions, however, there are situations where assets may be credited to the account despite it being closed. As disclosed at the point of account closing, cash balances credited to an account after it has been closed are automatically converted to the base currency, regardless of amount, since the trading platform is no longer available to facilitate conversions.
The following article provides background as to how such situations may occur and the steps clients can take to withdraw the assets.
Post-Closure Balances
While it is uncommon for credits to be applied to an account once closed, the events which cause this to happen generally arise from the following:
- The account was closed via disbursement issued in in the form of a check which the client does not present for payment for 90 days and is therefore cancelled by IBKR; or, where the client requests a stop payment due to loss, theft or non-delivery of the check.
- The account was closed via an electronic disbursement (e.g., wire, ACH, EFT) later returned to IBKR by the receiving bank. This can occur if the receiving bank decides to reject and return the funds because the client’s bank account is closed or if the title of the account at IBKR differs from the bank account to which it is being deposited (i.e., a 3rd party transfer).
- A credit adjustment is applied to the account after it has closed to correct an over-withholding of taxes on a prior period dividend.
- An applicant deposited funds prior to the account being opened and the application was never approved by IBKR or was abandoned by the applicant.
- The account was closed via transfer to another broker who later returns the assets after the account has closed.
Withdrawing Assets
To withdraw cash, log into the Client Portal, select the Transfer & Pay and then Transfer Funds menu options and you will be presented with the option to make a withdrawal and a list of available banking instructions which you created while the account was open. Select an instruction that is active and applicable to the denomination of the currency to be withdrawn.
If your account has positions, please contact the broker who returned the positions to request that they be transferred back. Note that you will not be able to submit orders to close positions in a closed account.
FAQs
Q. What do I do if I don't recall my login credentials and am unable to log into the Client Portal?
A. If you require assistance logging into your account, you will need to contact your local Client Service Center via telephone. Such requests require verbal verification of your identity as a protection from unauthorized users. Contact information is available on our website.
Q. How do I determine the credit balance in my account?
A. The account balance and its composition can be found in your activity statement. Daily, monthly and annual statements are available online via the Client Portal through the Reports/Tax Reports menu option.
Q. Am I able to reopen an account that has been closed?
A. Accounts that have been closed for an extended period or are attempting to reopen solely for the purpose of withdrawing assets are generally not eligible to be reopened. If you intend to reopen the account to establish an ongoing brokerage relationship, please contact your local Client Service Center for assistance.
Q. What happens if I want to withdraw the funds via check and my address has changed?
A. If your account is eligible to withdraw funds via check (only available for US currency withdrawals by customers with a US mailing address) and your mailing address on record is no longer accurate, you will not be able to change your address online. In this instance, please contact Client Services to inform us of your new address and receive instructions on how to upload a copy of a driver's license or other acceptable document.
Q. What happens if I want to withdraw the funds electronically and my account does not already have a valid banking instruction on file?
A. If you currently do not have an active banking instruction on file, please log into the Client Portal and add a new instruction using the Transfer & Pay menu option. Note that IBKR reserves the right to verify new instructions via verbal confirmation and/or submission of qualifying documentation. This verification step is intended to protect against unauthorized transfers to a 3rd party.
Q. The entity which owned the account no longer has a bank account or is no longer in existence. How can the funds be withdrawn?
A. In the event the funds are unable to be withdrawn and distributed in the name of account holder at the point of account closure, IBKR will seek to distribute the funds to the entity owners based on their pro rata share of ownership. Note that this will generally require submission of documentation evidencing the owners and their ownership interests as well as a warranty and indemnification letter executed by the owners that the information they provide is accurate and there aren’t any other owners or creditors to whom the funds are owned. IBKR also reserves the right to request an independent opinion of counsel verifying the accuracy of the information provided.
Q. What happens if I do not act to withdraw assets in a closed account?
A. IBKR will attempt to notify closed accounts of a credit balance using the email address of record. Account holders who do not act to withdraw balances within 30 days after notice has been sent are subject to a monthly closed account fee of $20. Also note that IBKR is subject to statutes which require that assets in accounts deemed "abandoned" be turned over to the state in which the client resides (or Connecticut if the client resides outside the U.S.). The period of inactivity by which an account is considered "inactive" varies by state, but can be as low as 3 years. See Knowledge Base Article 2599 for details regarding retrieving unclaimed property from the state.
無主財產
美國州立法規要求包括IBKR在內的美國金融機搆將被認定為“遺棄”的客戶賬戶轉交給客戶居住的州政府。此等法規旨在保護消費者的權益，因為消費者可能與金融機搆失去了聯系。資金被轉交給州政府后將由其保管，州政府將試圖聯系賬戶所有人或其繼承人并歸還資金。
各州對“遺棄”的定義不衕，但這通常指較長時間無活動或未與金融機搆聯系的賬戶，在某些情況下判定的時間標准僅為三年。為盡量避免賬戶被歸為“遺棄”，IBKR會試圖聯系不活躍的客戶并請他們登錄賬戶，從而使賬戶就法規而言被視為活躍賬戶。
如果賬戶被認定為“遺棄”，IBKR將把賬戶余額匯給客戶居住地的州政府，這可能導致頭寸被清算。若客戶居住在美國以外，則資金將被匯至IBKR成立的所在地——康涅狄格州。
一旦資金被上交給州政府，則無法通過IBKR取回。然而，客戶可直接向接收資金的州政府索要該資產。大部分州政府都設立了網站，公民可通過此類網站搜索無主財產數據庫并發起資產申領請求。此外，國家無主財產管理協會的網站上列出了各州數據庫的鏈接：www.unclaimed.org。
安全設備更換費用
通過IBKR安全登錄系統登錄其賬戶的賬戶持有人會獲得一個安全設備，其在用戶名密碼保護外提供了一層額外的保護，用以防止網絡黑客和其他未經授權人士訪問您的賬戶。儘管IBKR對此設備的使用不收取任何費用，但某些版本的設備需賬戶持有人在賬戶關閉時歸還，否則會產生更換費用。如果設備遺失、被盜或者損壞，現有的賬戶持有人也需支付此更換費用（請注意，由於電池故障退回更換的設備不收取更換費用）。
此外，儘管IBKR只有在設備被確認為遺失、被盜、損壞或者未歸還的情況下才會收取更換費用，但在設備發放時賬戶便需留有一筆金額等於更換費用的預備金來確保設備能正常歸還。此預備金不會影響賬戶可用於交易的資產，但在設備歸還前，賬戶會被限制全額取款或轉帳（即不能提取預備金餘額）。
下表為各個設備的更換費用。
| 安全設備 | 更換費用 |
| 安全代碼卡1 | $0.001 |
| 數碼安全卡+ | $20.00 |
要瞭解如何歸還安全設備的說明，請參見KB975
1安全代碼卡在賬戶關閉時無需歸還，可在剩餘資金全部取出且賬戶完全關閉後銷毀或丟棄。賬戶關閉後，若想訪問客戶端查看、獲取活動報表和稅收文件，只需通過現有用戶名和密碼登錄即可。此類安全設備已不再發行。
Unclaimed Property
U.S. financial institutions, including IBKR, are subject to state statutes which require that client accounts deemed "abandoned" be turned over to the state in which the client resides. These statutes are intended to protect consumers who may have lost contact with the financial institution as funds which have been turned over or escheated are then held by the state who, in turn, attempts to contact the owner or their heirs and return the funds.
The definition of abandonment varies by state but generally refers to accounts which have had no activity or contact for an extended period, in some cases as little as 3 years. To minimize the likelihood of an account being classified as abandoned, IBKR will attempt to contact inactive clients and have them simply log into their account, at which point the account is considered active for purposes of these statutes.
If an account is determined to be abandoned, IBKR remit the balance to the state in which the client resides which may result in positions being liquidated. In the case of clients who reside outside the U.S., the funds will be remitted to IBKR's state of incorporation, Connecticut.
Once funds have been escheated to a state, they cannot be retrieved by or through IBKR. Clients, however, may directly claim the assets from the state to which they were escheated. Most states maintain a public website which allows one to search their unclaimed property database and initiate a claim for assets. In addition, the National Association of Unclaimed Property Administrators maintains a website containing links to each of the individual state's databases: www.unclaimed.org.
Security Device Replacement Charge
Account holders logging into their account via IBKR's Secure Login System are issued a security device, which provides an additional layer of protection to that afforded by the user name and password, and which is intended to prevent online hackers and other unauthorized individuals from accessing their account. While IBKR does not charge any fee for the use of the device, certain versions require that the account holder return the device upon account closing or incur a replacement fee. Existing account holders are also subject to this replacement fee in the event their device is lost, stolen or damaged (note that there is no fee to replace a device returned as a result of battery failure).
In addition, while IBKR does not assess a replacement fee unless a determination has been made that the device has been lost, stolen, damaged or not returned, a reserve equal to the fee will placed upon the account upon issuance of the device to secure its return. This reserve will have no effect upon the equity of the account available for trading, but will act as limit to full withdrawals or transfers until such time the device is returned (i.e., cannot withdraw the reserve balance).
Outlined below are the replacement fee associated with each device.
| SECURITY DEVICE | REPLACEMENT FEE |
| Security Code Card1 | $0.001 |
| Digital Security Card + | $20.00 |
For instructions regarding the return of security devices, please see KB975
1 The Security Code Card is not required to be returned upon account closing and may be destroyed and discarded once remaining funds have been returned and the account has been fully closed. Access to Client Portal after closure for purposes of viewing and retrieving activity statements and tax documents is maintained using solely the existing user name and password combination. This type of two-factor security is no longer being issued.
口座解約手続き
口座解約方法
口座解約をご希望のお客様は、以下の指示に従い口座解約のお手続きを開始してください。
IBLLC口座をお持ちのお客様で基準通貨をUSDに設定されているお客様は、口座解約時の出金方法として銀行送金だけでなく、米国銀行を利用したACHや小切手での出金もご利用いただけます。基準通貨がUSD以外のお客様につきましては、ご登録いただいている出金先銀行へ口座解約時の残高を送金いたします。IBSJ口座のお客様は、基準通貨がUSD以外のお客様と同様、銀行送金の扱いとなります。
ステップ１：ポジションを決済・移管
お口座内にあるポジションをすべて決済、または他の証券会社へ移管してください。
ステップ２：基準通貨以外の通貨を決済
口座解約時は、基準通貨でのご出金となりますため、基準通貨以外の通貨ポジションをお持ちの場合は、すべて基準通貨へと変換してください。基準通貨へ変換するための決済注文は、トレーダーワークステーションにて行ってください。発注方法等ご不明な点がございましたら、カスタマーサービスまでお問い合わせください。
ステップ３：ご登録の口座番号の確認
口座解約時の出金は基準通貨での出金となります。出金先の銀行情報をご登録頂いた上で、出金可能額を出金してください。基準通貨がUSD以外のお客様は、銀行送金での出金となります。出金方法につきましては、以下リンクをご参照ください。既に基準通貨での出金先をご登録いただいているお客様は、出金先情報に誤りがないことをアカウントマネジメントの資金管理ページにてご確認ください。
http://ibkb.interactivebrokers.com/node/1739
ステップ４：マーケットデータの解約
現在ご購読中のマーケットデータの解約を行ってください。解約手続きは、アカウントマネジメント内の「マーケットデータの購読」メニューより、解約するデータのチェックボックスよりチェックを外すことで行っていただけます。必ず最後の確認画面まで進んでください。
アカウントマネジメントのメニューが上部に表示されている場合：「トレーディングアクセス」→「マーケットデータの購読」
アカウントマネジメントのメニューが左側に表示されている場合：「取引」→「設定」→「マーケットデータの購読」
ステップ５：セキュリティ・ディバイスの返却
セキュアログイン・システムをお使いのお客様はディバイスの返却が必要となります。ディバイスの返却がされていない状態ですと、お口座の現金残高より150ドル分が返却されるまでの間ホールドの状態になります。詳細は、英語になりますが、以下リンクをご参照ください。 なお、セキュリティ・コードカードの返却は必要ございません。
http://www.interactivebrokers.com/en/accounts/secureTransactionProgram.php
ステップ６：出金ホールド期間に当たる資金があるか確認
ご入金を最近されたお客様は、ホールド期間（出金制限期間）に当たる資金がないことを確認してください。口座解約時においてもこの期間内の出金はできませんので、ご了承ください。詳細は、英語になりますが、以下リンクをご参照ください。
http://www.interactivebrokers.com/en/accounts/depositInstructions.php
ステップ７：必要なステートメントの出力・保存
口座解約後のアカウントマネジメントへのアクセスは限られておりますので、口座解約が完了するまでに必要なアクティビティ・ステートメント（取引報告書）を出力・保存してください。なお、口座解約より一定期間は現在のユーザ名・パスワードを使い、ステートメントへアクセスしていただくことができます。
ステップ８：口座解約リクエストをオンライン上で登録
上記ステップすべて完了しましたら、アカウントマネジメント内の「口座解約」より口座解約リクエストをご登録ください。口座解約リクエストの中で解約理由をご記入いただく欄がございますので、必ずご記入いただけますようお願い申し上げます。必要事項の記入が完了しましたら「送信」ボタンをクリックし、リクエストを送信してください。
アカウントマネジメントのメニューが上部に表示されている場合：「口座管理」→「設定」→「口座解約」
アカウントマネジメントのメニューが左側に表示されている場合：「口座管理」→「口座解約」
配当、金利、その他コーポレとアクションに関連した支払いが発生する場合、口座解約のリクエストを受けてから３か月間、口座は開いたままの状態になります。全て処理・支払が完了いたしましたら、完全に閉設されます。口座の解約状況につきましては、「口座解約」ページにてご確認ください。
※上記ステップを完了された後にお客様の口座解約プロセスが開始されます。月々の最低手数料は、上記ステップを完了するまで対象となります。また、セキュリティディバイスの返却が完了するまで、ホールドされている資金の出金はできませんのでご了承ください。
Closing FX Positions Denominated in a Settlement Currency
Price quoting for Forex pairs on IdealPro is subject to an industry convention whereby the relationship between the first pair (transaction currency) and second pair (settlement currency) is fixed and cannot be inverted. Considering, for example, pairs involving the USD, the following are examples where the USD is listed as the transaction currency: USD.CAD, USD.JPY and USD.CHF. Similarly, the GBP.USD, EUR.USD and AUD.USD are examples where the USD is listed as the settlement currency (a complete listing of quoting conventions for pairs executable via IdealPro can be found by typing IdealPro into the IB website search engine).
These quoting conventions introduce special considerations when one is attempting to close out a specific cash balance denominated in a settlement currency which, based upon the current quote, may not be able to be closed out in its entirety. To illustrate, assume the following transactions:
Day 1: Account holder maintaining USD 300,000 in a USD base currency account buys 10,000 shares of stock XYZ which is denominated in CAD at a price of 50.00. Also assume that the account holder does not convert USD into CAD prior to the stock purchase and therefore borrows the CAD necessary to settle the trade from IB. The USD.CAD closes at 1.0526 and XYZ at CAD 50.00 (no unrealized gain or loss). The end of day account balance is as follows:
| Position |
Position in Local Currency |
Position Translated into Base Currency |
| Cash - USD | 300,000.00 | $300,000.00 |
| Cash - CAD | (500,000.00) | ($475,014.25) |
| Stock - XYZ | 500,000.00 | $475,014.25 |
| NLV (in Base) | $300,000.00 |
Day 2: Assume no trade activity, the USD.CAD closes that day at 1.0309 and XYZ closes at CAD 52.00. (unrealized gain of USD 19,400.52). The end of day account balance is as follows:
| Position |
Position in Local Currency |
Position Translated into Base Currency |
| Cash - USD | 300,000.00 | $300,000.00 |
| Cash - CAD | (500,000.00) | ($485,013.10) |
| Stock - XYZ | 520,000.00 | $504,413.62 |
| NLV (in Base) | $319,400.52 |
Day 3: Account holder sells the 10,000 shares of XYZ at CAD 53.00 and the USD.CAD closes unchanged at 1.0309 (unrealized gain of USD 29,100.79). The end of day account balance is as follows:
| Position |
Position in Local Currency |
Position Translated into Base Currency |
| Cash - USD | 300,000.00 | $300,000.00 |
| Cash - CAD | 30,000.00 | $29,100.79 |
| Stock - XYZ | 0.00 | $0.00 |
| NLV (in Base) | $329,100.79 |
Day 4: Account holder seeks to close out the CAD 30,000.00 cash balance through the sale of CAD vs. the purchase of USD. Due to the quoting convention of this pair in which the order must be specified in a quantity of USD, the account holder is required to determine the USD equivalent of CAD 30,000.00 at the desired trade price. Assuming the account holder seeks to close the position at the market price of 1.0253 an order to buy 29,259 USD.CAD would be entered which, if executed, will result in a residual long CAD balance of 0.75. The end of day account balance is displayed below:
| Position |
Position in Local Currency |
Position Translated into Base Currency |
| Cash - USD | 329,259.00 | $329,259.00 |
| Cash - CAD | 0.75 | $0.73 |
| Stock - XYZ | 0.00 | $0.00 |
| NLV (in Base) | $329,259.73 |
Note, however, that in accordance with IB's policies regarding nominal Forex balances, residual balances of less than USD 5.00 equivalent will automatically be converted into the account holder's base currency upon settlement assuming no subsequent trade activity in that non-base currency has taken place in the interim. This is intended to minimize the actions required of the account holder to convert nominal non-base currency balances back into the designated base currency and also to convert fractional balances which could otherwise not be converted. IB does not charge a commission for these automated conversions.
Cost Basis Reporting
1099 Reporting
Statement and Year End Reporting for US persons and entities comprises the following:
1. Cost Basis: While the required reporting schedule was staggered, the primary cost basis that will be reported to the IRS includes equities bought and sold after December 31, 2010. This includes the adjusted cost basis resulting from wash sales and corporate actions.
The future phase-in period for broker reporting includes the assets sold on or after the following dates:
--- Mutual Funds and ETFS - 1/1/2012
--- Simple debt instruments (i.e. treasuries, fixed-rate bonds & municipal bonds) and options, - 1/1/2014
--- Other debt instruments - 1/1/2016
2. Tax Basis Method: Brokers are required to use the method first in, first out (FIFO), unless given other instructions by an investor. Changes to your tax basis method may be submitted through the Tax Optimizer. The Tax Optimizer is launched from within Account Management and is available for stock, option, bond, warrant and single-stock future trades.
IB offers multiple tax basis methods, including three basic options:
● First In, First Out (FIFO) - This is the default option. FIFO assumes that the oldest security in inventory is matched to the most recently sold security.
● Last In, First Out (LIFO) - LIFO assumes that the newest security acquired is sold first.
● Specific Lot - Lets you see all of your tax lots and closing trades, then manually match lots to trades. Specific Lot is not available as the Account Default Match Method.
Tax Optimizer also lets you select the following additional derivatives of the specific identification method.
● Highest Cost (HC), Maximize Long-Term Gain (MLTG), Maximize Long-Term Loss (MLTG), Maximize Short-Term Gain (MSTG), and Maximize Short-Term Loss(MSTL).
For complete instructions on using the Tax Optimizer and details on the lot-matching algorithms for each method, see the Tax Optimizer Users Guide.
Note: Changing your tax basis is effective immediately. The basis selected will be applied to all subsequent trades on the account statements and tax reports. Updates will not affect previously closed trades nor the TWS profit and loss data displayed.
3. Gain & Loss Categories: An additional requirement to the cost basis reporting is the capital gain or loss category. The gain or loss category of equities is determined by the length of time in which the security was held, known as the "holding period."
● Short-Term - Holding periods of one year or less are categorized as "short-term."
● Long-Term - Holding periods over one year are categorized as "long-term."
Year End Reports
The following statements and reports display cost basis information that will be reported on Form 1099-B for eligible accounts.
- Monthly Account Statements
- Annual Account Statements
- Worksheet for Form 8949
For a complete review of the tax information and year end reporting available, click here.
Note: Unlike the Account Statements, the Gain & Loss Worksheet for Form 8949 may consolidate sell trades. The cost basis will be adjusted, as required for 1099-B reporting.
Asset Transfers
U.S. legislation from 2008 included new guidelines for tax reporting by U.S. financial institutions. Effective January 2011, U.S. Brokers are required to report cost basis on sold assets, whether or not a gain/loss is short-term (held one year or less) or long-term (held more than one year). U.S. brokerage firms, Interactive Brokers LLC (IB) included, implemented changes to comply with the legislation.
For more information on cost basis with asset transfers, see Cost Basis & Asset Transfers.
Disclaimer: IB does not provide tax advice. These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any international, federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor. We recommend that you consult a qualified tax adviser or refer to the U.S. Internal Revenue Service.
How can I close out the nominal FOREX positions in my account?
When account holders enter into transactions with instruments which are denominated in a non-Base Currency, the resultant profit or loss along with any interest charges (in the event of a margin loan) will remain in the currency in which the product was denominated until such time the account holder acts to close the currency position(s). This responsibility rests with the account holder as closing the position requires acceptance of a conversion price which is likely to be subject to continuous fluctuation similar to any other financial instrument.
There are limited instances in which IBKR will act to close a non-Base Currency position, including the following:
1. In situations where a margin deficiency exists and the position is closed in an effort to restore margin compliance; and
2. If the non-Base Currency balance is deemed to be nominal. Nominal balances are defined as those below USD 5.00, or equivalent. Such balances are regularly swept once settlement has been completed into the Base Currency as long as no other unsettled activity remains. Note that balances which are accrued but not yet posted, such as interest debits and credits, are not subject to being swept while in an accrual state.
3. If the account equity is deemed to be nominal. Here, if the account balance is below USD 80.00, or equivalent, the balance consists solely of cash and there has been no trade activity over the prior 10 business days, all non-Base Currency balances will be unwound and converted into the Base Currency. Note that this logic does not apply to accounts managed by a financial advisor or carried on behalf of an introducing broker.
4. If the account has selected the Close Account option in Client Portal. Here, all non-Base Currency balances not greater than 1,000 USD equivalents will be automatically converted into the Base Currency.
IBKR does provide an expedited process to assist account holders who wish to close all non-Base Currency positions collectively. To use this process, start by clicking on the Account button at the top of the TWS, which opens up a window displaying account balances including cash positions in all denominations. In the section titled 'Market Value - Real FX Balance" right click on any row to from the drop down menu to select the option titled 'Close All Non-Base Currency Positions'. Upon clicking that link, the account holder will be guided through a series of steps which will create a market order to close any non-Base Currency positions.
NOTE: Commissions are charged on FOREX conversions initiated by the account holder but not on those initiated by IBKR for the purpose of closing a nominal balance as noted above. IBKR will charge a commission if the position was liquidated in order to restore margin compliance.
Glossary terms:
