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FAQs for Hungarian TBSZ Account

Updated: 2023-11-13

What is a Long-term Investment Account - "Tartós Befektetési Számla" (TBSZ)?

"Tartós Befektetési Számla" or Long-term Investment Account is abbreviated as TBSZ. Its most significant advantage is that after 3 or 5 years respectively, the tax burden on investment returns will be reduced to 10% or 0% from the standard 15% - when realizing the yield.

Who can open a TBSZ?

Any natural person above 18 years old who is a Hungarian tax resident.

Currently, we do not offer TBSZ for condominiums, fiduciary trusts nor private foundations.

How can I open a TBSZ?

You can open a TBSZ directly in the Client Portal or initiate it as a new customer on the website, just like opening any other account. For existing customers, the account opening process takes only a few minutes.

Why do I need to open an Individual Trading account to open a TBSZ?

Your TBSZ will be linked to the Individual Trading account (“primary account”) as the TBSZ can be funded only from an Individual Trading account, and in case the TBSZ matures or breaks, the assets it holds are swept to the Individual Trading account. Additionally, the TBSZ automatically inherits all trading permissions and settings from the Individual Trading account.

Can I open multiple TBSZ?

You can open 1 TBSZ each calendar year with us. (Starting from 2023.)

How can I deposit money into the TBSZ?

You can transfer money to the TBSZ from your primary account. Money deposit is only allowed during the collection year.

How can I place securities into the TBSZ?

You can only deposit money into the TBSZ. The money can be transferred directly from your primary account. Money deposit is only allowed during the collection year.

What is the minimum and maximum amount I can deposit into the TBSZ?

During the collection year, you can deposit any amount with any frequency into the account. The initial deposit must reach at least 25,000 HUF or an equivalent value in any other supported currency. There is no upper limit for the deposited amount.

What is the "collection year"?

The "collection year" refers to the calendar year of opening the account, also known as year 0. You can only deposit money into the account during this calendar year. After the collection year, you can no longer make further deposits, but you can open a new TBSZ with the current calendar year as its collection year.

The lock-in period begins in the year following the collection year.

What is the lock-in period?

This is a 5-year period following the collection year, separated into a 3-year and a 2-year periods. During this time, you can no longer make deposits but can trade with the funds you have already deposited. The 3-year period is called Holding Period 1, while the 2-year period is called Holding Period 2.

At the end of the third year (i.e., the end of Holding Period 1), you can partially or fully withdraw your assets from the account. At the end of the fifth year (i.e., the end of Holding Period 2), you can terminate, or partially or fully reinvest your assets in another TBSZ.

What is Holding Period 1?

Holding Period 1 is a 3-year period that starts in the calendar year following the collection year, beginning on January 1.

If you break the account during this time, you will be required to pay the standard 15% personal income tax on your returns. The 13% social contribution tax (“szocho”) should not apply to this income.

At the end of this period (between December 1-30), you need to notify IBKR by submitting your statement whether you want to withdraw your assets partially or fully to your primary account. If you decide to do so, make sure that the value of assets remaining in your TBSZ is at least 25,000 HUF; otherwise, the account must be terminated.

How can I submit my statement at the end of the third year?

You will receive notification in the Client Portal about the deadline for making the declaration and instructions on how to do it.

What happens if the 3-year period expires, and I don't submit my statement?

In the absence of a declaration, the account will automatically move into the next, 2-year lock-in period, known as Holding Period 2, carrying your assets in their entirety without any changes.

What is Holding Period 2?

Holding Period 2 is a 2-year period that starts in the calendar year following Holding Period 1, beginning on January 1.

If you break the account during this time, you will be required to pay a reduced, 10% personal income tax on your returns. The 13% social contribution tax ("szocho") should not apply to this income.

At the end of this period your TBSZ will be terminated, unless you declare (between December 1-30) that you want to transfer your assets partially or fully to another TBSZ opened in the second year of Holding Period 2. If you decide to do so, make sure that the value of the assets to be transferred is at least 25,000 HUF; otherwise, the transfer will not take place, and your assets will be transferred in their entirety to your primary account.

How can I submit my statement at the end of the fifth year?

You will receive notification in the Client Portal about the deadline for making the declaration and instructions on how to do it.

What happens if the 5-year period expires, and I don't submit my statement?

In the absence of a statement, the account will be terminated, and the assets will be transferred to your primary account in their entirety. In this case, the achieved returns are tax-exempt, and you are not obligated to include them into your Hungarian annual Personal Income Tax return.

If you are a foreign tax resident in addition to your Hungarian tax residency, please consult the tax authority or tax advisor of the country of your tax residency on the tax liabilities arising under your tax law.

When can I trade or adjust my investment portfolio in the TBSZ?

Within the TBSZ, you are free to manage your investments, which means you can trade, open or close positions from year 0 until the end of the fifth year.

Which financial instrument can be traded in the TBSZ?

Any instrument that you can trade on your primary account can be traded in the TBSZ, as the TBSZ inherits all trading permissions and settings of the primary account.

Is investment loan available in the TBSZ?

No. Investment loan (margin) is not supported in the TBSZ.

Is Stock Yield Enhancement Program (SYEP) available in the TBSZ?

No, SYEP is not supported in the TBSZ.

When can I withdraw assets from the TBSZ?

You can withdraw assets at the end of the third year, which is the end of Holding Period 1. By declaring your intent between December 1st and 30th, you can make partial or full withdrawals on January 1st.

You can modify your declaration multiple times during this time. A new declaration overrides the previous one. If the assets requested for withdrawal are not available on December 31, the requested withdrawal will not be executed, and the assets will remain in the TBSZ. For the returns of the amount withdrawn, you will be liable to pay 10% personal income tax. The 13% social contribution tax ("szocho") should not apply to this income.

If you withdraw assets before the end of the third year (within Holding Period 1), the account will be terminated, and you will be taxed at the standard, 15% tax rate on the returns.

If you withdraw assets after the end of the third year, but before the end of the fifth year (within Holding Period 2), the account will be terminated, and you will be taxed at a reduced, 10% tax rate on the returns.

However, the 13% social contribution tax ("szocho") should not apply to this income in either case.

How do I pay the tax?

You are responsible for determining, declaring, and paying the tax to the NAV through self-assessment. If you withdraw assets from your TBSZ - fully or partially - before your TBSZ ceases, as well if your TBSZ ceases at the end of Holding Period 2, then you will be provided a TBSZ tax certificate issued via the Portal until 31 January of the following year.

If your TBSZ ceases at the end of Holding Period 2 (after 5 years from the end of collection year), and your income is subject to 0% tax rate, then you don't have to include this income into your Hungarian Personal Income Tax return.

If you are a foreign tax resident in addition to your Hungarian tax residency, please consult the tax authority or tax advisor of the country of your tax residency on the tax liabilities arising under your tax law.

Can I transfer my assets to another TBSZ at another service provider?

You can transfer a TBSZ in its entirety, including all assets in the account, to another provider.

This is possible even if you already have a TBSZ at the receiving service provider with the same collection year as the TBSZ you wish to transfer. In this case, the two TBSZs will merge.

How can I initiate a TBSZ transfer from IBKR to another service provider?

You can initiate the transfer of an existing TBSZ in the Client Portal where you will receive further instructions about the transfer process.

Can I transfer my TBSZ to IBKR?

Yes. You need to open a TBSZ for each year you wish to transfer, and then to complete the transfer-in request for each of them.

To open a TBSZ in Client Portal, go to Settings > Open an Additional Account > Individual Brokerage Accounts > TBSZ.

To complete a transfer-in request in Client Portal, select the TBSZ on the home screen, then go to Transfer &Pay > Transfer Funds > Transfer from Another Broker.

Note: if you do not see the Transfer from Another Broker option in Client Portal it is because it is not available for you at the moment due to the gradual rollout of the function. Please check the option later.

Can I transfer my NYESZ to IBKR?

No, you cannot transfer NYESZ to IBKR. However, you can convert your NYESZ into a TBSZ at your current service provider and instruct the service provider to transfer the TBSZ to IBKR.  The year when the NYESZ is converted to a TBSZ will be the collection year of this TBSZ.

When does the TBSZ expire or terminate?

The TBSZ terminates under the following circumstances:

  • At the end of the 5-year, ergo at the end of Holding Period 2 on December 31st, or
  • If the value of the account drops below 0 HUF at any time, or
  • If you submit a statement for partial withdrawal, but the value of the assets remaining in your TBSZ is below 25,000 HUF at the end of the 3-year Holding Period 1, on December 31st, or
  • If an asset is removed from the TBSZ, except at the end of Holding Period 1.

Does the TBSZ offer tax-exemption for dividends?

The TBSZ account shelters the dividend income only when it originates from Hungary. Foreign dividends do not enjoy the tax protection of the TBSZ because the foreign dividend payers may withhold foreign taxes from the payable amount. The Hungarian personal income tax will not be withheld from the dividend amount.

What are the costs and fees associated with the TBSZ?

A minimum activity fee is imposed in the TBSZ, which amounts to 2,000 HUF per month.

This fee applies collectively to all TBSZs, regardless of their number. So, whether you have 1, 3, or 5 TBSZs, the fee remains 2,000 HUF per month.

The minimum activity fee is reduced based on the total commission generated from trading in the TBSZs in each month. For example, if you have four TBSZs, and each generates commission equivalent to 300 HUF, the payable minimum activity fee would be 800 HUF (2,000 – 4 * 300 = 800).

Do I have to notify NAV about the account opening?

Yes. IBKR will provide you with a certification upon the first funding of the TBSZs. This certificate you will need to submit to NAV within 30 days from the first funding in order to enjoy the tax protection of the TBSZ.

Do I have to notify NAV about account transfers?

You have to notify NAV if you transfer your TBSZ from IBKR to another investment firm. Similarly, you should notify NAV when you transfer your TBSZ from another investment provider to IBKR. In the absence of such notification, you cannot enjoy the tax protection of the TBSZ.

The data that NAV should be notified of: the fact of transfer and the amount of the transferred assets. The timeline is within 30 days from the date of the transfer.  

Do I have any reporting obligation towards NAV?

Yes. IBKR will provide you with a tax certificate until 31 January of the following year in the case of TBSZ termination or partial withdrawal from the TBSZ. You will be required to include the amount of the taxable income as per the IBKR tax certificate in your annual Personal Income Tax return.

 

 

IBUK Trust Account FAQs

Can I open a Trust account with IB UK?

Yes, you are able to open a Trust account under the IB UK legal entity. To open a Trust account, follow these steps:

  1. From IBKR’s webpage, select Open Account (https://www.interactivebrokers.co.uk/Universal/Application?locale=en_US)
  2. Click on Start Application
  3. The Open an Account page will be presented and you will need to Create a Username and Password
  4. After you enter a username and password and select your country, click on Create Account
  5.  The next screen will allow you to select the account type: Individual followed by Trust
  6.  Follow the remaining steps to complete the application.

What is a Trust Account?

A trust account is a legal arrangement through which funds or assets are held by a third party (the trustee) for the benefit of another party (the beneficiary). The beneficiary may be an individual or a group. The creator of the trust is known as a "grantor" or "settlor."

Main features of a trust:

  •  Ownership of the assets must be transferred to the trust. This action is called "funding the trust."
  • The trustee must be a mentally competent adult and can be anyone the grantor trusts and who has accepted the responsibility of handling the trust account.
  •  Subject to terms of an agreement that states otherwise, the trustee has the authority to make changes to the account, including to transfer assets, close the account, open a sub-account and name additional beneficiaries or another successor trustee.
  •  The trustee has a fiduciary duty to consider the best interests of the beneficiaries first in any decisions.
  •  The trustee is responsible for annual tax returns and may be required to file regular accountings at the request of beneficiaries, depending on state law.
  • All distributions to the trust beneficiary and other related expenses must be paid from the trust account.

Can I appoint a financial advisor to manage, on a discretionary basis, my IBUK Trust account?

Yes, you can appoint a financial advisor to manage your IBUK Trust account on your behalf.

Can I trade on margin in the IBUK Trust Account?

Yes, you are able to trade on margin in an IBUK Trust Account as long as the trust account qualifies for margin.

What is the annual fee or charges for the IBUK Trust Account?

There is no annual, custody, platform or minimum fee for an IBUK Trust Account. The IBUK Trust account will be charged commissions for trades.

 

 

FAQs: Account Migration from IB LLC to IBSJ

Overview: 

 

This is an important document regarding the proposed transfer of your account from Interactive Brokers LLC (“IB LLC”) to Interactive Brokers Securities Japan, Inc. (“IBSJ”) that requires your attention. Please read the entirety of this document before deciding whether to accept or decline the Invitation sent to you via email.

 

Background: 

 

This FAQ document summarizes some of the key changes to the regulatory framework that would result from the Proposed Transfer (as described below) and provides answers to some general questions that you may have. The FAQs should be read in conjunction with the Invitation. If you require any further information, please contact us via the details provided in the Invitation.

 

This FAQ is split into three parts.

  • Part A sets out key information in relation to the Proposed Transfer (as described below).
  • Part B covers key legal and regulatory topics related to the Proposed Transfer (as described below).
  • Part C aims to answer any other questions that you may have and provides some further and more practical information in relation to what will and will not be changing following the Proposed Transfer (as described below).

PART A – THE PROPOSED TRANSFER

 

1.        What is the situation currently and why are things changing?

Interactive Brokers Securities Japan, Inc. (“IBSJ”) was granted authorization by the Kanto Local Finance Bureau to operate as a Japanese securities firm in October 2005. At that time, we attempted to leverage the strength of Interactive Brokers Group (and its ability to provide clients access to global markets) by offering an account structure that would allow clients to access markets worldwide as well as the Japanese market, all through a single domestic account. In the course of establishing this structure, we realized our goal to provide access to overseas markets from a single domestic account would entail a degree of complexity due to differences in settlement in non-JPY currencies and Japanese domestic regulations. Therefore, we implemented an account structure to offer overseas (non-Japanese domesticated) products through IBSJ’s affiliated broker-dealer based in the U.S., Interactive Brokers LLC (“IB LLC”), intermediated by IBSJ, while offering Japanese domestic products through an IBSJ account.

IBSJ is now modifying this approach and will begin providing access to Japanese and Global markets directly, through a single IBSJ account. As a result, IB LLC will no longer support accounts for retail Japanese clients intermediated by IBSJ.

  

2.     What “changes” will Japanese clients experience?

We propose to transfer the business that you currently conduct with IB LLC to IBSJ. In other words, it is our intention that the accounts, investments and services currently provided to you by IB LLC will instead be provided by IBSJ (for convenience we will refer to this as the “Proposed Transfer”).

 

3.     When will the Proposed Transfer occur?

The Proposed Transfer is scheduled to commence soon after June 14, 2023. We will alert you once your account is transferred.

 

4.     Who is IBSJ? What type of firm is it?

IBSJ is a Japanese online securities broker which is regulated by Kanto Local Finance Bureau under the Registration No.187 for its financial business and regulated by Ministry of Economy, Trade and Industry (METI) / Ministry of Agriculture, Forestry and Fisheries (MAFF) for its commodity derivative business.

  　

5.     What are IBSJ’s legal details?

IBSJ is registered as a private company limited by shares and is listed in the Register of Companies maintained by Tokyo legal affairs bureau. Its registered address is Kasumigaseki Building 25F, 2-5 Kasumigaseki 3-Chose, Chiyoda-ku, Tokyo, 100-6025 Japan.    

IBSJ’s website is available at: https://www.interactivebrokers.co.jp/en/home.php

 

6.     Who will regulate IBSJ and where are their details?

As set out above, Kanto Local Finance Bureau (KLFB) is the competent financial business regulator for IBSJ while Ministry of Economy, Trade and Industry (METI) / Ministry of Agriculture, Forestry and Fisheries (MAFF) are the regulators for IBSJ’s commodity derivative business. IBSJ is also a member of Japan Securities Dealers Association (JSDA) and the Commodity Futures Association of Japan (CFAJ).

The details for the regulator and the self-regulatory organizations above are set out in the links below:

Kanto Local Finance Bureau (KLFB)
https://lfb.mof.go.jp/kantou/
 
Ministry of Economy, Trade and Industry (METI)
 
Ministry of Agriculture, Forestry and Fisheries (MAFF)
 
Japan Securities Dealers Association (JSDA)
 
The Commodity Futures Association of Japan (CFAJ)

 

7.     Where does IBSJ fit in the broader Interactive Brokers group?

IBSJ is a wholly-owned subsidiary that sits within the Interactive Brokers Group.

 

8.     What does the Proposed Transfer mean for me? Will there be any material impacts?

It is very important that you read this FAQs carefully and make sure that you understand what the changes are for you. Initially, IBSJ will have a limited product offering for global markets. However, IBSJ plans to extend its global offering (as further explained in Part C) and will notify you of new products you can trade. 

 

9.     What do I have to do if I want to continue doing business with Interactive Brokers?

If you would like to continue to do business with Interactive Brokers, we require your signed consent and action.

Specifically, we require you to consent and agree to the Customer Agreement and other Documents available under the Important Information section of the Proposed Transfer process and to the regulatory matters outlined in the Invitation, the Important Information and Consent sections of the Proposed Transfer process.  You can do this by following the instructions in the Invitation.

To be clear, you do not have to agree to the Proposed Transfer. However, if you decide to decline or do nothing, IB LLC will not be able to keep servicing your account after the proposed account transfer period. As part of the process, your account may be restricted, and your account may be forced closed. You have the ability to transfer the positions in your account to either IBSJ or another broker by August 31, 2023. If you wish to decline, please follow the instructions in the Invitation.

In either case, we ask that you read the entirety of this FAQ and the Invitation before deciding to consent to or decline the Proposed Transfer. 

 

10. What happens next?

If you consent to the transfer, please complete all actions detailed in the Invitation and we will prepare your account for the Proposed Transfer. If you already have an IBSJ account, your assets held in the IB LLC account will be consolidated into the IBSJ account following the Proposed Transfer. Following the Proposed Transfer, IBSJ will write to you with further information about the consolidated structure.

 

PART B – LEGAL AND REGULATORY CHANGES THAT YOU SHOULD BE AWARE OF

 

1.     What terms and conditions will govern my relationship with IBSJ following the Proposed Transfer? Are these different to the ones that currently apply?

Trades that you conduct after the Proposed Transfer will be governed by the new Customer Agreement between you and IBSJ.  A copy of the new Customer Agreement is available in the Important Information section of the Proposed Transfer process.  Please see the response to Question A3 above in relation to the timing for the Proposed Transfer.

 

2.     What conduct of business rules (including best execution) will apply to my relationship with IBSJ?

The U.S. conduct of business rules apply to IB LLC accounts. These rules are based on the regulations and rules set by the U.S. Securities and Exchange Commissions (“SEC”).

The IBSJ account will be subject to Japan conduct of business rules, which include regulations and rules set by Financial Service Agency (“FSA”), Japan Securities Dealers Association (“JSDA”) and the Commodity Futures Association of Japan (“CFAJ”).

 

3.     How will investments that I custody with IBSJ be held from a legal/regulatory perspective? Are there any material differences that will apply to my agreement with IBSJ compared to those that apply to my existing agreement with IB LLC? 

U.S. law and regulations regarding custody of securities and customer funds apply to your accounts with IB LLC.  These include rules set by the U.S. Securities & Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”). The US custody rules require that any cash and fully-paid securities held by IB LLC on your behalf must be held segregated from the assets of IB LLC.

Going forward, Japan custody rules will apply to your agreement with IBSJ. Similar to the U.S. custody rules, the Japan conduct of business rules are based on the regulations on segregation of customers assets set by Financial Instruments and Exchange Act (further explain below in Question B4).  

 

4.     How am I protected against loss? Are there any material differences that will apply to my relationship with IBSJ compared to those that apply to my existing relationship with IB LLC?

IBSJ’s compensation scheme is different from the compensation scheme you have access to at IB LLC.

Currently, your eligible assets are protected from loss under the U.S. Securities Investor Protection Corporation at an amount of up to USD 500,000 (subject to a cash sublimit of USD 250,000).

After the Proposed Transfer, in the unlikely event of IBSJ’s failure, a certain amount of money is protected by the Japan Investor Protection Fund. Here is a summary of how the Japanese investor protection mechanism works:

(1) Segregated custody by securities firms

When investors trade financial instruments (stocks or other securities), they entrust their assets such as money and financial instruments to a securities firm. If the securities firm keeps the assets entrusted by the customer separate from the securities firm's own assets, the customer's assets will be returned to the customer even if the securities firm fails.

This practice of keeping assets entrusted by customers separate from the securities firm's own assets is called segregated custody. This concept is central to investor protection, and segregated custody is required of all securities companies under the Financial Instruments and Exchange Law.

(2) Japan Investor Protection Fund

Under this segregated custody system, even if a securities firm files for bankruptcy protection, the assets entrusted by customers will be returned to them in full. However, for instances where the securities firm is unable to smoothly return the full amount for any reason, a compensation system is in place through the Japan Investor Protection Fund, which provides compensation up to 10 million yen per customer.

However, as explained in section (1) above, the Japan Investor Protection Fund regulation serves to prevent such a situation from occurring because the assets entrusted by customers will be returned to them if they are kept in the segregated custody of securities companies.

Please note that the Japan Investor Protection Fund (similar to US rules) does not compensate for losses incurred by clients due to a drop in the market value of securities. 

 

5.     How do I make a complaint to IBSJ? Are there any material differences that will apply to my agreement with IBSJ compared to those that apply with IB LLC? What if my complaint relates to something that dates to when I was a customer of IB LLC?

The new Customer Agreement sets out how to file a complaint with IBSJ.  The complaints handling procedures are materially similar to those that apply to your existing agreement with IB LLC.  If the substance of your complaint relates to something that occurred prior to the Proposed Transfer, then you should address your complaint to IB LLC.  

 

6.     After the Proposed Transfer, will I still have access to the US regulators to file a complaint?

In case of a complaint, clients should follow the complaints procedure as referred to in the Customer Agreement. Once your account is transferred to IBSJ, the US regulators will cease to have jurisdiction over any complaints you may have in respect to IB LLC. However, please be aware that Japan has a dispute resolution process in the form of the Financial Instruments Mediation Assistance Center (FINMAC), a non-profit organization, to resolve complaints and disputes between customers and IBSJ regarding covered issues. Please refer to the following link for the details of FINMAC.. https://www.finmac.or.jp/english/

 

7.     How will my personal data be processed and protected? Are there any material differences that will apply to my agreement with IBSJ compared to those that apply to my existing agreement with IB LLC in this context?

Your data will be processed and protected in accordance with the IBSJ Privacy Policy. which can be found at: https://ndcdyn.interactivebrokers.com/Universal/servlet/Registration_v2.formSampleView?formdb=4102&lang=ja. There will be no material change to how your data is protected now.

 

 PART C – OTHER PRACTICAL QUESTIONS AND NEXT STEPS

 

1.     Who should I contact before the Proposed Transfer takes place and after the Proposed Transfer if I have any general questions?

Generally speaking, you should contact IB LLC with any questions that you may have prior to the Proposed Transfer, and you should contact IBSJ with any questions that you may have after the Proposed Transfer takes place.  Regardless of who you contact at Interactive Brokers, we will ensure your query is promptly dealt with and we will make best efforts to expediate any issues related to the account migration.

 

2.     Will the range of products offered be the same?

The range of products offered by IBSJ will not be the same as what is currently offered at IB LLC. Initially, IBSJ will offer:

·         Fully-paid trading in overseas (non-Japanese domesticated) stocks, ETFs and exchange listed bonds that can be offered in Japan; and

·         The Japanese domestic listed stocks and derivatives, Japanese stock CFDs, and some Japanese yen-denominated overseas derivatives that IBSJ has historically offered.

All unsupported holdings in your IB LLC account need to be closed out before your account can transfer to IBSJ. If you hold any product other than those stated above, please take the time to close out such positions before the Proposed Transfer to allow for a smooth transfer of your account and to avoid any account restrictions.

IBSJ plans to expand the types of other overseas products that it offers in the coming months. We will update these FAQs with additional details as we do.

View the list of available IBSJ products here: https://www.interactivebrokers.co.jp/en/trading/products.php

3.   What currencies are supported at IBSJ?

IBSJ will support a limited number of deposit currencies. The following four deposit currencies, the "Allowed Deposit Currencies"' are JPY, EUR, USD and GBP.

Clients with multi-currency accounts can make deposits in, and withdraw positive balances held in their account, of any Allowed Deposit currencies.

Multi-currency accounts may hold long currency balances in all available IBKR global currencies, including currencies that are not Allowed Deposit Currencies. Short currency balances are not supported at this time. IBSJ will automatically flatten any short currency balance by converting from a long currency balance available in the account.

For further information, please see IBSJ's Risk Disclosure Statement for IB Multi-Currency Accounts.

 

4.    What happens if I already have an account at IBSJ?

If you have an existing account with IBSJ, the assets in your IB LLC account will be transferred to your IBSJ account after the Proposed Transfer takes place. If you do not have an IBSJ account, we will create a new one for you.

 

5.  Will I have access to the same trading platform or be subject to any software changes following the transfer of my account?

The migration will have no impact upon the software you use to trade or administer your account. The technology will remain the same as it is today. 

 

6.     Will all account balances be transferred at the same time?

All balances, with the exception of accruals (e.g., interest, dividends) will be transferred at the same time.  Once accruals have been posted to cash, they will automatically be swept to the transferred account.  

 

7.     What will happen to my current account following the transfer of my account to IBSJ? 

Once all accruals have been swept, your current IB LLC account will be closed and inaccessible for trading purposes.  You will still be able to access this closed account via the Client Portal for purposes of viewing and printing archived activity and tax statements.

 

8.     Will IBSJ’s commissions and fees change when my account is transferred? 

No. IBSJ commissions and fees do not vary from the ones charged by IB LLC for your current account. However, since IBSJ is a Japanese securities broker, Japanese consumption tax will be added to all fees. 

 

9.     Will my trading permissions change when my account is transferred? 

Your trading permissions will not change when your account is transferred for products that are supported by IBSJ. Trading permissions not supported by IBSJ will not migrate to the IBSJ account.

 

10. Will open orders (e.g., Good-til-Canceled) be carried over when my account is migrated? 

Open orders will not be carried over to the new account.  You must resubmit any orders when your account is migrated.

 

11. Will I receive a single, combined annual activity statement at year end? 

You will receive an annual statement for your existing IB LLC account which will cover the period starting 1 January 2023 through the date of transfer and a second annual statement for your new account at IBSJ which will cover the period starting from the migration date through the end of the year ending December 2023. 

 

12. Will the current cost basis of positions be carried over when my account is migrated? 

Yes, this migration will have no impact upon the cost basis of your positions.

 

13. Will the migrated account retain the same configuration as the current account? 

The configuration of the account following migration will match that of the current account to the extent permissible by regulation. This includes attributes such as market data, additional users, and alerts. 

 

14. Will my login credentials change?

No. Your username, password, and any 2-factor authentication process in place for your existing account will remain active following migration. If you have an existing IBSJ account, your account number will not change.  If you do not have an IBSJ account and we create a new one for you, you will receive a new account ID.

 

 

Acerca de las cuentas de depósito en garantía para los valores sancionados

Overview: 

Si usted posee valores sujetos a las sanciones abarcadoras impuestas por la Oficina de Control de Activos Extranjeros ("OFAC") del Departamento del Tesoro de los EE. UU., se ha abierto una cuenta de depósito en garantía en su nombre.
 

¿Por qué tengo una cuenta de depósito en garantía?

Hemos creado una “cuenta de depósito en garantía” para que mantenga las posiciones en valores sancionados, de modo que estén segregados del resto de sus tenencias de conformidad con las normativas relativas a las sanciones.


¿Qué es una cuenta de depósito en garantía?

Esta cuenta de depósito en garantía se utilizará para mantener sus valores sancionados, los cuales no se pueden negociar ni transferir.


¿Puedo cancelar mi cuenta de depósito en garantía?

No, no puede cancelar su cuenta de depósito en garantía mientras mantenga valores sancionados.


¿Cómo puedo acceder a mi cuenta de depósito en garantía?

Las cuentas de depósito en garantía estarán visibles en Client Portal de la misma manera que el resto de las cuentas que tengan los clientes. Tendrá acceso de solo lectura a la nueva cuenta de depósito en garantía y obtendrá extractos e informes.


¿Recibo intereses o dividendos sobre los activos mantenidos en la cuenta de depósito en garantía?

No, IBKR no recibe los intereses o dividendos del depositario y tiene prohibido procesar los pagos de dividendos sobre valores sancionados.


¿Cómo afectan los activos en la cuenta de depósito en garantía el valor liquidativo (NAV) de mi cuenta?

Su cuenta de depósito en garantía está vinculada a su cuenta o cuentas regulares, pero el capital de la misma no se considera parte del valor de las cuentas diferentes a la cuenta de depósito en garantía, ya que estos valores están sujetos a sanciones.


¿Cómo afectan los activos mantenidos en la cuenta de depósito en garantía mis límites de margen?

Los valores sancionados no aceptan margen y no se pueden utilizar como garantía para respaldar otras posiciones.


¿Cómo puedo generar extractos para la cuenta de depósito en garantía?

Puede generar extractos mediante Client Portal de la misma manera en que lo haría para su cuenta regular.


¿Puedo generar extractos separados y combinados para mis cuentas?

Sí, los extractos deben generarse de la misma forma en que lo haría si usted mantuviera varias cuentas diferentes de la cuenta de depósito en garantía.


¿Puedo deducir de mis impuestos los activos retenidos en la cuenta de depósito en garantía?

El impacto fiscal de los activos en su cuenta de depósito de garantía puede variar en función de su ubicación. Interactive Brokers le recomienda consultar con un asesor fiscal local para entender las repercusiones fiscales específicas de estos valores sancionados.


¿Está mi cuenta de depósito en garantía sujeta a las mismas protecciones que mi cuenta de corretaje de IBKR?

Sí, sus activos permanecerán en la cuenta de depósito en garantía, pero tienen las mismas protecciones que su cuenta de corretaje de IBKR.

About Escrow Accounts for Sanctioned Securities

Overview: 

An escrow account was opened in your name if you own securities that are subject to comprehensive sanctions imposed by the US Treasury Department's Office of Foreign Asset Control ("OFAC").
 

Why do I have an escrow account?

We created an “escrow account” for you to hold positions in sanctioned securities so they are segregated from your other holdings in accordance with sanctions regulations.


What is an escrow account?

This escrow account will be used only to hold your sanctioned securities, which cannot be traded or transferred.


Can I cancel my escrow account?

No, you are not able to cancel your escrow account so long as you hold sanctioned securities.


How do I access my escrow account?

Escrow accounts will be visible in Client Portal in the same way as all other accounts owned by the clients. You will have read only access to the new escrow account and obtain statements & reports.


Do I earn any interest / dividends on the assets held in escrow?

No, IBKR is not allocated the interest or dividend from the custodian and is prohibited from processing dividend payments on sanctioned securities.


How do assets held in escrow affect my account’s NAV?

Your escrow account is linked to your regular account(s) but its equity is not considered part of the value of your non-escrow account(s), as these securities are subject to sanctions.


How do assets held in escrow affect my margin limits?

All sanctioned securities are non-marginable and cannot be used as collateral to support other positions.


How do I generate statements for the escrow account?

You can generate statements through Client Portal just as you would for your regular account.


Can I generate separate and combined statements for my accounts?

Yes, statements should be generated in the same way you would if you held multiple non-escrow accounts.


Can I write off assets held in escrow from my taxes?

The tax impact of your escrowed assets may vary by your location. Interactive Brokers recommends you consult with a local tax professional to understand the specific tax impacts of these sanctioned securities.


Is my escrow account subject to the same protections as my IBKR brokerage account?

Yes, your assets will remain in the escrow account but have the same protections as your IBKR brokerage account.

¿Puedo incluir a más de dos personas en una cuenta conjunta?

IB ofrece tres tipos de cuentas conjuntas: copropietarios con derechos de supervivencia, cotitulares y bienes comunales. Cada uno de estos tipos de cuentas conjuntas tiene un límite de dos titulares de cuenta.

Los solicitantes interesados en abrir una cuenta con más de dos propietarios podrán considerar los tipos de cuentas de sociedades, asociaciones, sociedades de responsabilidad limitada y empresas no constituidas que ofrece IB.  Tenga en cuenta que la documentación que establece la prueba de constitución y dirección generalmente se necesita en el momento de la solicitud.

¿Están los no residentes en EE. UU. sujetos a retenciones a efectos fiscales?

Overview: 

 

La información relacionada con las obligaciones fiscales se informa, según lo requerido, a las autoridades fiscales en su país de residencia, así como en otros países en caso de negociar productos condicionados a requisitos de retención locales.  A menos que una autoridad fiscal lo indique específicamente, IBKR no retiene impuestos sobre los ingresos por ventas de valores. Por ejemplo, de conformidad con la legislación fiscal de EE. UU., tenemos la obligación de retener impuestos en EE. UU. sobre los dividendos que pagan las sociedades estadounidenses a personas extranjeras con una tasa del 30 %. Esta tasa puede ser inferior si los Estados Unidos ha celebrado un convenio fiscal con su país. Además, los ingresos por intereses de las inversiones no están sujetos a retenciones en EE. UU. Todas las retenciones para personas no estadounidenses y para la mayoría de las entidades se informará en el formulario 1042-S al cierre de cada año. Si desea obtener más información, consulte la publicación 901 del IRS o consulte con su asesor fiscal.

Information Regarding IBUK JISA (Junior Individual Savings Account)

1.       What is a Junior ISA and what benefits does it offer your child?
 
Junior ISAs (Individual Savings Accounts), or JISAs, were introduced as a replacement for Child Trust Funds (CTFs). A Junior ISA is a tax-free savings or investment account to save or invest in for your child. There are two types of Junior ISA: a Junior cash ISA that pays interest, and a Junior stocks and shares ISA that lets you invest in “qualifying instruments” such as stocks and shares, funds, etc. The interest on cash accumulates on a tax-free basis, as does income and capital gains made on investments.
 
A Junior stocks and shares ISA is not an investment in its own right. The best way to think of a Junior stocks and shares ISA is as a ‘wrapper’ with which you can shelter your child’s savings and investments from both Income Tax and Capital Gains Tax. The IBUK Junior Stocks and Shares ISA lets you choose from a range of investments to invest in for your child (see below section 12 ‘What can I invest in for my child?’). You can select and manage your child’s IBUK Junior Stocks and Shares ISA yourself or arrange for your financial advisor to do so on your behalf (see below section 9 ‘Can I appoint a financial advisor to manage, on a discretionary basis, my child’s IBUK Junior Stocks and Shares ISA?’).
 
2.       What ISA types are offered at IBUK?
 
Interactive Brokers (U.K.) Limited (IBUK) only offers stocks and shares ISAs (including, Junior Stocks and Shares ISA). IBUK does not offer cash ISAs (including, Junior cash ISA).
 
3.       Who is eligible for a Junior ISA?
 
Your child is eligible for a Junior ISA if they’re under the age of 18, and resident in the UK. You can also open a Junior ISA for your child if you are a crown employee serving overseas.
 
A child cannot hold both a CTF (Child Trust Fund) account and a Junior ISA. This is relevant to anyone under 18 who was born between 1 September 2002, when CTFs were introduced, and 3 January 2011 when they came to an end. If your child holds a CTF account, you cannot open an IBUK Junior ISA since IBUK does not support CTF transfers, other Junior ISA providers may accommodate your Junior ISA request.  
 
4.       How many Junior ISAs can a child have?
 
A child can have no more than one Junior cash ISA and one Junior stocks and shares ISA at any one time (don’t have to be with the same provider). A child cannot hold both a CTF (Child Trust Fund) account and a Junior ISA.  
 
5.       Who can open a Junior ISA and who is the registered contact?
 
You can open a Junior ISA for a child if you’re their parent or legal guardian. The parent or legal guardian opening the account will be the ‘registered contact’, but the money will not be accessible to them and will always belong to the child. The child normally won’t be able to access the money until their 18th birthday, at which point their Junior ISA is converted into an ‘adult’ ISA.
 
As the registered contact for a Junior ISA, you are the only person authorised to make decisions about the management of the account. You’ll also need to keep IBUK informed if the child’s personal details change, e.g., if they change their name, address, contact number, etc.
 
6.       How do I change the registered contact for an IBUK Junior Stocks and Shares ISA?
 
You should use the Interactive Brokers change of registered contact form (via Client Portal) to change the registered contact for an IBUK Junior Stocks and Shares ISA. The existing registered contact must sign this application to authorise this change unless where certain exemptions apply.
 
NB. IBUK will not allow a child to be the Registered Contact upon their 16th birthday, other ISA providers may allow this (i.e., once the child reaches the age of 16, the child can apply to become the Registered Contact).
 
For more information on how to change a registered contact please contact our dedicated ISA Support team who are available 8am to 6pm GMT Monday to Friday, excluding public holidays (see below section 29 ‘What if I have additional questions?’)
 
7.       Who owns the Junior ISA and what happens when the child turns 18?
 
All payments made into a Junior ISA belong to the child (i.e., all payments made into the Junior ISA are a gift to the child and as such cannot be repaid to the subscriber if at a later date the subscriber changes their mind). The parent or guardian who opened the Junior ISA acts as the registered contact, but they can’t access the money once it has been deposited, unless there are exceptional circumstances (see below section 11 ‘Can I make withdrawals from a Junior Stocks and Shares ISA?’). When your child turns 18, the IBUK Junior Stocks and Shares ISA will automatically become an ‘adult’ IBUK Stocks and Shares ISA (i.e., when the child turns 18, account ownership is automatically transferred to them). As an adult, they’ll become the account holder, responsible for managing their account and able to withdraw monies. For more information on how this transfer of control (from the registered contact to the child (upon the child’s 18th birthday)) works, please contact our dedicated ISA Support team who are available 8am to 6pm GMT Monday to Friday, excluding public holidays (see below section 29 ‘What if I have additional questions?’)
 
8.       Can you lose your child’s money paid into a Junior Stocks and Shares ISA?
 
The value of investments your child holds in the IBUK Junior Stocks and Shares ISA and the income received from them can fall as well as rise. As a result, you may get back less than you invested in for your child. Past performance is not an indication of future performance, and some investments need to be held for the long term to achieve a return. The IBUK Junior Stocks and Shares ISA is an execution only service, Interactive Brokers does not provide investment advice. If you need advice about whether an investment is suitable, you need to consult a suitably qualified financial advisor.
 
9.       Can I appoint a financial advisor to manage, on a discretionary basis, my IBUK Junior Stocks and Shares ISA?
 
Yes, you can appoint a financial advisor to manage the IBUK Junior Stocks and Shares ISA on your behalf. Click on the link for additional details:
 
 
10.   Can I trade on margin under the IBUK Junior Stocks and Shares ISA?
 
No. You can only open an IBUK Junior Stocks and Shares ISA under a GBP cash account type. A cash account requires that all transactions are made with available cash or long positions.
 
11.   Can I make withdrawals from a Junior Stocks and Shares ISA?
 
No, unless exceptional circumstances exist. All payments made into the IBUK Junior Stocks and Shares ISA are a gift to the child and so cannot normally be withdrawn until the child turns 18. NB. withdrawals are permitted if the child is terminally ill or has died in accordance with the ISA Regulations.
 
12.   What can I invest in for my child?
 
Under a Junior stocks and shares ISA you can invest in any of the following investments (also known as 'qualifying investments'):
-          Shares;
-          Securities issued by Companies;
-          Recognised UCITS;
-          Depository Receipts, American Depository Receipts and American Depository Shares.
 
13.   What exchanges does IBUK support?

HMRC recognised exchanges supported by IBUK:
Country
Exchange
Australia
The Australian Stock Exchange (and any of its stock exchange subsidiaries)
Austria
Vienna Stock Exchange
Belgium
NYSE Euronext Brussels
Canada
Toronto Stock Exchange
Montreal Stock Exchange
Toronto Venture Exchange (TSX Venture Exchange)
France
MATIF
MONEP
Germany
Frankfurt Stock Exchange
Stuttgart Stock Exchange
Hong Kong
Hong Kong Stock Exchange
Italy
Italian Stock Exchange (Borsa Italia)
Japan
Tokyo Stock Exchange
Osaka Stock Exchange
Lithuania
NASDAQ OMX Vilnius
Mexico
Mexico Stock Exchange
Poland
Warsaw Stock Exchange
Singapore
Singapore Exchange Limited
South Korea
Korea Exchange
Spain
Spanish Stock Exchange (Bolsa de Valores in Madrid)
Switzerland
Swiss Stock Exchange (SIX Swiss Exchange)
United Kingdom
London Stock Exchange
United States of America
BATs Exchange Inc
Chicago Board Options Exchange
Chicago Stock Exchange
International Securities Exchange
National Stock Exchange
New York Stock Exchange
NYSE ARCA
NASDAQ OMX PHLX
NASDAQ
 
14.   What is the Junior ISA Allowance for 2023/2024 tax year?
 
Tax year runs from 6 April to the following 5 April. Each tax year’s Junior ISA subscription limit is specific to that year and can be checked on the HMRC website. 
 
NB. For each tax year, you can check (via the funding page in Client Portal) how much you have subscribed to your child’s IBUK Junior Stocks and Shares ISA and the maximum amount that you can contribute to your child’s IBUK Junior stocks and shares ISA in that tax year, assuming you have not contributed to another Junior ISA away from Interactive Brokers.
 
For the 2023/24 tax year, the Junior ISA annual subscription limit is £9,000. This is a combined annual limit across both types of Junior ISA: cash, and stocks and shares. The subscription limit can be split in any way between cash, and stocks and shares Junior ISAs each tax year.
 
15.   How do I make subscriptions to my IBUK Junior Stocks and Shares ISA?

You can make one-off payments (wire transfers deposits) as and when you choose, but the combined total of all payments (or subscriptions) must not exceed any given annual tax year allowance (see section 14. What is the 2023/2024 Junior ISA Allowance?).
 
Interactive Brokers accepts wire transfers only, and there is a minimum subscription amount of £1. Your child’s IBUK Junior Stocks and Shares ISA can only have GBP cash.
 
Although other Junior ISA providers might have different terms, only parent or legal guardian can pay into your child’s Junior ISA with IBUK.
 
16.   What happens if I exceed my child’s Junior ISA allowance?
 
If you have accidentally paid too much into your child’s Junior ISAs your child won’t get any tax relief on the excess payments you’ve made. The Junior ISA allowance is a combined annual limit across both types of Junior ISA: cash, and stocks and shares.
 
17.   What should I do if I exceed my child’s Junior ISA allowance?
 
In the event you oversubscribe to your child’s Junior ISA (in other words your child’s Junior ISA annual allowance was exceeded), you should not attempt to correct the mistake by withdrawing the excess funds from a Junior ISA (including, but not limited to, your IBUK Stocks and Shares ISA). Instead, you should call HMRC’s ISA helpline to explain the situation and inform them about the oversubscription. HMRC will advise you on the next steps.   NB. The Junior ISA allowance for the tax year 2023/2024 is GBP 9,000 (this is a combined limit across both types of Junior ISA: cash, and stocks and shares).
 
18.   What is the annual fee for the IBUK Junior Stocks and Shares ISA?
 
There is no annual Junior ISA fee at IBUK. Other costs and charges apply, see below section 19 for more information.
 
19.   What are the charges for the IBUK Junior Stocks and Shares ISA?
 
£1 per month minimum activity fee.
 
One free withdrawal per month. Thereafter, £7 withdrawal fee is applicable.
 
Click on the link for an overview of our commissions:
 
 
20.   How do I transfer my child’s Junior Stocks and Shares ISA from my current ISA manager to IBUK?
 
You will need to submit a transfer instruction to Interactive Brokers (via the transfer & pay funding page in Client Portal), and if, in IBUK’s discretion IBUK decides to accept the transfer, IBUK will instruct your existing ISA manager to transfer the investments (where IBUK supports such investments) and/or cash into your child’s IBUK Junior Stocks and Shares ISA. Where IBUK does not support all the investments held at your existing ISA Manager, you can either liquidate these investments yourself prior to submitting your transfer instruction to IBUK via Client Portal (any cash proceeds of such liquidation will be transferred into your child’s IBUK Junior Stocks and Shares ISA) or you can instruct IBUK (as part of your transfer instruction via Client Portal) to do so on your behalf. NB. IBUK does not accept the transfer of a Child Trust Fund (CTF) over to a  Junior Stocks and Shares ISA, other Junior ISA providers might support such transfer service.
 
Transfers between an ‘adult’ ISA and Junior ISA are not permitted.
 
21.   How do I transfer a Junior ISA out to another Junior ISA provider?
 
An ISA account transfer to another ISA provider must be requested at the receiving ISA provider. Please contact the ISA provider you wish to have your account transferred and ask them to contact us via email at isa-transfer@interactivebrokers.com (for ISA provider communication only) sending us the client-signed transfer form for processing. Please note your ISA provider may have their own forms and procedures to follow. Please contact them for further information.
 
22.   What are the Transfer Charges?
 
Interactive Brokers does not charge for transfers (the transferring ISA manager may charge you for transferring investments or cash proceeds to us).
 
23.   Can I cancel my IBUK Junior Stocks and Shares ISA?

You have a legal right to cancel your child’s IBUK Junior Stocks and Shares ISA if you change your mind but there are time limits on doing so, see below section 24 for more information.
 
24.   How can I cancel my child’s IBUK Junior Stocks and Shares ISA?
 
If you want to cancel your child’s IBUK Junior Stocks and Shares ISA, you must do so within 14 days from the date you receive our email confirming the establishment of your child’s IBUK Junior Stocks and Shares ISA (a cancellation must be requested from the Client Portal).
 
Cancellation rights will also apply to the receipt of transfer payments. You have 14 days from the date you receive our email acknowledging the transfer to exercise your right to cancel (a cancellation must be requested from the Client Portal). NB. If you cancel the transfer of your child’s Junior Stocks and Shares ISA from another ISA manager to IBUK, that ISA manager may not agree to accept the Junior Stocks and Shares ISA back. This may result in that Junior Stocks and Shares ISA being closed, and the tax benefits being lost.
 
25.   How safe is your child’s IBUK Junior Stocks and Shares ISA?

IBUK is authorised and regulated by the Financial Conduct Authority (FCA), and is approved by HMRC to act as an ISA manager (including in respect of stocks and shares ISAs).  

Under our client terms, and in accordance with the FCA rules relating to client money and assets (Assets), IBUK will be responsible for holding and protecting your child’s Assets. IBUK is required to separate your child’s Assets from its own resources. IBUK is not permitted to use your child’s Assets to carry out its business activities.

In the unlikely event that IBUK became insolvent, an administrator would be appointed to return your child’s Assets to you. If there is any shortfall, eligible claims will be covered by the UK Financial Services Compensation Scheme (FSCS). The FSCS is an independent body set up by the UK Government to pay compensation if a UK firm, such as IBUK is in default and cannot meet any valid claims against it.  FSCS claims are limited to £85,000 per client. Please note the FSCS applies to designated investments and may not cover all investments or transactions (and in particular these protections don’t apply to investment losses).  For more information on the FSCS see www.fscs.org.uk.

 
26.   How can I file a complaint with IBUK?
 
Customers are actively encouraged to use the WebTicket system for prompt attention.
 
A copy of our Complaints Procedure is available here: https://www.interactivebrokers.com/en/index.php?f=292. You can also direct your ISA specific complaints via email to isa@interactivebrokers.co.uk (Please note that in order to ensure that your complaint is flagged and given the required attention, Interactive Brokers kindly asks you to state "COMPLAINT" in the subject header field of the email).
 
27.   Are Corporate Actions allowed under my child’s IBUK Junior Stocks and Shares ISA?

Allowed to participate but cannot exceed the annual Junior ISA subscription limit. If it were to exceed the subscription limit, the shares should be transferred to a non-ISA account (see above sections 17 ‘What should I do if I exceed my child’s Junior ISA allowance?’.
 
28. FX Handling and the IBUK Junior Stocks and Shares ISA
 
Interactive Brokers will automatically convert currencies when trading non-GBP denominated securities. To do this, Interactive Brokers will engage in “spot” currency transactions on your behalf in order to settle your buy orders or convert the proceed of a sell order. Interactive Brokers will base the exchange rate off the spot exchange rate at the time of trade 0.03% fee.
 
The below example illustrates the cost in GBP of a $1,000 USD Trade
 
Example GBP/USD Spot Rate: 1.3432/1.3433
 
Order Type FX Conversion Rate inc 0.03% fee Cost of $1000 USD Trade
Buy 1.3430 £744.61
Sell 1.3435 £744.31
 
29. What if I have additional questions?

Our customer services team are on hand to help via phone or email. If you have any questions about your IBUK Stocks and Shares ISA, please contact our dedicated ISA Support team who are available 8am to 6pm GMT Monday to Friday, excluding public holidays.  
 

 

Preguntas frecuentes: migración de IBLUX a una cuenta restringida en IBIE

Background: 

Como hemos explicado previamente, Interactive Brokers Luxembourg SARL ("IBLUX") no seguirá proporcionando servicios de corretaje a inversores y dejará de realizar sus operaciones normales. En junio de 2021, invitamos a los clientes existentes de IBLUX a transferir sus cuentas a otra entidad de Interactive Brokers o a otro banco o bróker fuera de la familia Interactive Brokers. A pesar de que se le han enviado recordatorios en repetidas ocasiones, usted no ha tomado las medidas necesarias para transferir los activos en su cuenta de IBLUX. Por este motivo, estamos transfiriendo su cuenta a nuestra filial, Interactive Brokers Ireland Limited ("IBIE") (la "Transferencia"), en donde sus activos permanecerán en custodia segura hasta que recibamos instrucciones para la transferencia por su parte. Estas preguntas frecuentes proporcionan información práctica, jurídica y normativa importante respecto de la Transferencia.

1.      ¿Qué significa la Transferencia para mí? ¿Qué términos y condiciones regirán su relación con IBIE luego de la Transferencia Propuesta?

 

Luego de la transferencia, IBIE será responsable de asegurar la custodia segura de sus activos, y los siguientes términos ("Términos de uso de la cuenta") regirán su cuenta y activos. No podrá colocar operaciones ni tomar otras decisiones financieras en su cuenta, e IBIE no le proporcionará servicios de inversión a menos que firme el Acuerdo de Cliente de IBIE y complete todos los demás pasos necesarios para abrir una cuenta con IBIE. IBIE le enviará un correo electrónico luego de la Transferencia con los pasos a tomar para asegurar sus credenciales de inicio de sesión para acceder a su cuenta en IBIE.

 

2.      ¿Qué debo hacer si deseo continuar haciendo negocios con Interactive Brokers?

 

Si desea continuar haciendo negocios con Interactive Brokers, le pedimos su cooperación. Deberá tomar una medida para que IBIE le pueda proporcionar servicios de inversión. En concreto, necesitamos que abra una nueva cuenta con IBIE, acepte y firme el Acuerdo de Cliente, así como todos los demás documentos necesarios, y que proporcione los documentos o la información adicional necesaria.

 

Si no desea continuar negociando con Interactive Brokers, podrá instruir a IBIE para transferir sus activos a otro bróker o banco, e IBIE cumplirá con sus instrucciones sujeto a la legislación aplicable y a los procesos estándar de IB.

 

3.      ¿Cómo se custodiarán mis activos con IBIE?

 

Hasta que acepte el Acuerdo de Cliente y abra una cuenta de corretaje con IBIE, IBIE proporcionará servicios de custodia con un alcance limitado de la siguiente forma:

 

·         en el caso de saldos de efectivo transferidos a IBIE, tendrá derecho a la cantidad de saldo de efectivo en la divisa de base de su cuenta el día en que se transfiera a IBIE, e IBIE no convertirá su saldo de efectivo a otra divisa ni pagará intereses sobre el efectivo que mantenga en custodia para usted. 

 

·         en el caso de los instrumentos financieros transferidos a IBIE, usted tendrá derecho sobre estos instrumentos financieros, e IBIE no proporcionará servicios de inversión con relación a sus instrumentos financieros mientras estén bajo la custodia de IBIE. Por ejemplo, IBIE no tomará ninguna medida para minimizar las pérdidas que resulten de movimientos en el mercado. De todos modos, en caso de su cuenta tenga un margen insuficiente, IBIE tomará las medidas adecuadas y liquidará posiciones sin solicitar una cobertura adicional para que su cuenta vuelva a cumplir con el requisito de margen, el cual está sujeto a cambio. Para obtener más información, consulte la pregunta 10 de las preguntas frecuentes.

 

Si abre una cuenta con IBIE, las normas de custodia de Irlanda se aplicarán en su totalidad a su relación con IBIE. Encontrará más información en el documento de IBIE Documento de información clave sobre los activos del cliente. Al igual que las normas sobre custodia de Luxemburgo, las normas sobre conducta comercial de Irlanda se basan en la Directiva relativa a los mercados de instrumentos financieros y en diversas directivas y normas delegadas (en conjunto, las directivas "MiFID").

 

4.      ¿Estoy protegido contra pérdidas? ¿Existen diferencias significativas que se apliquen para mi relación con IBIE en comparación con mi relación existente con IBLUX?

 

Luego de la Transferencia, el Programa de indemnización de inversores de Irlanda podrá aplicarse para su cuenta. El programa de indemnización de Irlanda es similar al programa de indemnización al que tiene acceso en Luxemburgo. El propósito del Programa de indemnización de los inversores de Irlanda es pagarle una indemnización (condicionada a ciertos límites) si ha invertido dinero o tiene instrumentos de inversión en alguno de los siguientes casos:

 

·         Una empresa cesa en sus operaciones comerciales y no puede devolverle sus inversiones o dinero; y

 

·         Se ha dictado una decisión del Banco Central de Irlanda o una sentencia judicial conforme con la ley Investor Compensation Act de 1998.

 

The Investor Compensation Company DAC (ICCL) administra el programa. IBIE será un miembro del programa.

 

El sistema cubre productos de inversión, entre los que se incluyen:

 

- Acciones de empresas públicas y privadas

- Unidades en programas de inversión colectiva

- Pólizas de seguros de vida (incluye fondos vinculados a la unidad)

- Pólizas de seguros que no sean seguros de vida

- Bonos indexados

- Futuros y opciones

 

Normalmente, solo podrá realizar una reclamación luego de que una empresa cese en sus actividades comerciales y sus activos se hayan liquidado y distribuido entre sus acreedores. Verifique la información sobre los límites de los sistemas que pueden aplicarse; no todas las pérdidas podrán recuperarse, ya que existen niveles máximos establecidos para las indemnizaciones.  El Sistema de indemnización de los inversores de Irlanda (ICCL) le pagará una indemnización del 90 % de la cantidad que haya perdido hasta un máximo de 20 000 €.

 

5.      ¿Cómo realizo una reclamación ante IBIE? ¿Qué sucede si mi queja se relaciona con algo que sucedió mientras era cliente de IBLUX?

 

Los procedimientos de gestión de reclamaciones de IBIE son muy similares a aquellos que se aplican para su relación existente con IBLUX, pero el alcance de las disposiciones para reclamaciones es mucho más estrecho debido a que los servicios proporcionados se limitan a mantener sus activos bajo custodia en un fideicomiso hasta que usted envíe las instrucciones para la transferencia o se convierta en un cliente de IBIE. Todas las reclamaciones formales deberán hacerse utilizando uno de los siguientes medios: i) tique web en Client Portal en la página web de IBIE; ii) carta enviada a: Complaints Handling, Compliance Department, IBIE Dublin Landings, North Wall Quay, North Dock, Dublin 1, Ireland; o iii) mediante correo electrónico a complaints@interactivebrokers.ie.

 

Si el fundamento de su reclamo se relaciona con algo que sucedió antes de la Transferencia, entonces su reclamación debería estar dirigida a IBLUX. 

 

6.      Luego de la Transferencia, ¿tendré acceso a la CSSF para presentar una reclamación?

 

En el caso de una reclamación, los inversores deberían seguir el procedimiento de quejas que se indica en el Acuerdo de Cliente de IBLUX. Una vez que la Transferencia se haya realizado, la CSSF dejará de tener jurisdicción sobre las reclamaciones que pueda tener respecto de IBLUX. Sin embargo, tenga en cuenta que Irlanda tiene un programa de resolución de disputas en forma de Defensor de servicios financieros y jubilaciones (“Financial Services and Pensions Ombudsman o FSPO”). El FSPO es un sistema de resolución de controversias jurídico independiente y gratuito para servicios financieros. Puede ser elegible para presentar una queja ante el FSPO si es un "reclamante elegible". Podrá encontrar más información acerca de los "reclamantes elegibles" en el siguiente sitio web:www.fspo.ie. Puede contactar con el FSPO a través de los siguientes medios:

 

Dirección de correo postal

Defensor de servicios financieros y jubilaciones

Lincoln House,

Lincoln Place

Dublín 2

D02 VH29

 

Teléfono

+353 (0)1 567 7000

 

Correo electrónico

Info@fspo.ie

 

7.      ¿Cómo se procesarán y protegerán mis datos personales? ¿Existen diferencias significativas que se apliquen para mi relación con IBIE en comparación con mi relación existente con IBLUX en este contexto?

 

Sus datos se procesarán y protegerán de conformidad con la política de privacidad de Interactive Brokers Group, la cual puede encontrarse en el siguiente enlace:https://www.interactivebrokers.co.uk/es/index.php?f=15592. No habrá cambios significativos.

 

8.      ¿El rango de servicios será el mismo?

 

No. Esta cuenta se ha creado solamente para la custodia segura de sus activos mientras aguardamos por sus instrucciones acerca de adónde transferir sus activos o que se convierta en cliente de IBIE. Como resultado, nuestros servicios están limitados a mantener sus activos y a cumplir los requisitos de margen, cuando proceda.

 

9.      ¿Ha liquidado todas o alguna de las posiciones en mi cuenta para facilitar la Transferencia?

 

Como le explicamos por escrito previamente, en muchos casos hemos liquidado todas o algunas de las posiciones en las cuentas del cliente en la divisa de base de la cuenta para facilitar la Transferencia a IBIE. Cuando hubieren permanecido posiciones, las preguntas 10 y 11 de las preguntas frecuentes tratan acerca de cómo se transferirán y custodiarán en IBIE.

 

10.  Tengo una cuenta de margen. ¿Rigen los términos de margen mi cuenta de forma distinta luego de la Transferencia a IBIE?

 

No. Sus obligaciones y responsabilidades con relación a su cuenta de margen y la negociación con margen seguirán en vigor luego de la Transferencia tal como estaban en IBLUX. De todos modos, no puede bajo los términos actuales operar la cuenta libremente, lo que incluye la apertura de nuevas posiciones, a menos que se convierta en un cliente de IBIE. Consulte los Términos y condiciones de la cuenta para obtener más información.

 

11.  ¿Qué sucede con los valores entregados a IBLUX como parte de un préstamo de margen?

 

Si le ha proporcionado un valor o garantía a IBLUX, se transferirá a IBIE luego de que tenga lugar la Transferencia Propuesta.

 

12.  ¿Se transferirán todos los saldos de cuenta al mismo tiempo, y cuál será el plazo?

 

Todos los saldos de efectivo se transferirán al mismo tiempo, y su cuenta actual en IBLUX se cerrará y no tendrá acceso a ella para negociar. Aún tendrá acceso a esta cuenta cerrada a través de Client Portal para ver e imprimir extractos del historial.

 

13.  ¿Cambiarán las comisiones y tarifas de IBKR cuando se migre mi cuenta? 

 

Las comisiones y tarifas de IBKR no varían de acuerdo al bróker con el cual se mantiene su cuenta.

 

De todos modos, mientras sus activos se mantienen en custodia en un fideicomiso en IBIE, hasta que transfiera los activos a otra institución financiera o a una nueva cuenta con IBIE, IBIE aplicará una comisión mensual para mantener su cuenta, la cual será inicialmente de 100 EUR. La comisión mensual podrá modificarse ocasionalmente ante el criterio exclusivo de IBIE mediante notificación que podrá ser a través de la página web de IBIE.

 

Además, IBIE no le pagará intereses pero podrá cobrar intereses a los tipos de interés y sobre los saldos de crédito que se establezcan en dicho momento en la página web de IBIE.

 

Tenga en cuenta que, cuando el saldo de efectivo en su cuenta sea insuficiente para cubrir estas comisiones, IBIE podrá liquidar activos en la misma forma en que IBLUX liquidaría activos antes de la Transferencia.

 

14.  Tengo otras preguntas acerca de lo que cambiará y lo que no luego de la Transferencia? 

 

Si aún tiene inquietudes, contacte con atención al cliente de IBKR.

 

Preguntas frecuentes: migración de IBLUX a una cuenta restringida en IBCE

Background: 

Como hemos explicado previamente, Interactive Brokers Luxembourg SARL ("IBLUX") no seguirá proporcionando servicios de corretaje a inversores y dejará de realizar sus operaciones normales. En junio de 2021, invitamos a los clientes existentes de IBLUX a transferir sus cuentas a otra entidad de Interactive Brokers o a otro banco o bróker fuera de la familia Interactive Brokers. A pesar de que se le han enviado recordatorios en repetidas ocasiones, usted no ha tomado las medidas necesarias para transferir los activos en su cuenta de IBLUX. Por este motivo, estamos transfiriendo su cuenta a nuestra filial, Interactive Brokers Europe Zrt. ("IBCE") (la "Transferencia"), en donde sus activos permanecerán en custodia segura hasta que recibamos instrucciones para la transferencia por su parte. Estas preguntas frecuentes proporcionan información práctica, jurídica y normativa importante respecto de la Transferencia.

1.      ¿Qué significa la Transferencia para mí? ¿Cuáles son los términos y condiciones que regirán mi relación con IBCE luego de la Transferencia?

 

Luego de la transferencia, IBCE será responsable de asegurar la custodia segura de sus activos. Los Términos comerciales generales de IBCE [https://gdcdyn.interactivebrokers.com/Universal/servlet/Registration_v2.formSampleView?formdb=4500] ("TCG") regirán su cuenta y sus activos mientras se mantengan bajo custodia en un fideicomiso en IBCE en esta capacidad limitada. No podrá colocar negociaciones ni tomar otras decisiones financieras en su cuenta e IBCE no le proporcionará servicios de inversión a menos que acepte expresamente los TCG, firme el Acuerdo de Cliente y complete otros pasos abiertos necesarios para abrir una cuenta en IBCE. IBCE le enviará un correo electrónico luego de la Transferencia con los pasos a seguir para asegurar sus credenciales de inicio de sesión para acceder a su cuenta en IBCE.

 

2.      ¿Qué debo hacer si deseo continuar haciendo negocios con Interactive Brokers?

 

Si desea continuar haciendo negocios con Interactive Brokers, le pedimos su cooperación. Deberá tomar una medida para que IBCE le pueda proporcionar servicios de inversión. En concreto, necesitamos que abra una nueva cuenta con IBCE, acepte los TCG expresamente y firme el Acuerdo de Cliente, así como todos los demás documentos necesarios, y que proporcione los documentos o la información adicional necesaria.

 

Si no desea continuar negociando con Interactive Brokers, podrá instruir a IBCE para transferir sus activos a otro bróker o banco, e IBCE cumplirá con sus instrucciones sujeto a la legislación aplicable y a los procesos estándar de IB.

 

3.      ¿Cómo se custodiarán mis activos en IBCE?

 

Hasta que acepte los TCG y el Acuerdo de Cliente, y abra una cuenta de corretaje con IBCE, IBCE proporcionará servicios de custodia con un alcance limitado de la siguiente forma:

 

·         en el caso de saldos de efectivo transferidos a IBCE, tendrá derecho a la cantidad de saldo de efectivo en la divisa de base de su cuenta el día en que se transfiera a IBCE, e IBCE no convertirá su saldo de efectivo a otra divisa ni pagará intereses sobre el efectivo que mantenga en custodia para usted. 

 

·         en el caso de los instrumentos financieros transferidos a IBCE, usted tendrá derecho sobre estos instrumentos financieros, e IBCE no proporcionará servicios de inversión con relación a sus instrumentos financieros mientras estén bajo la custodia de IBCE.. Por ejemplo, IBCE no tomará ninguna medida para minimizar las pérdidas que resulten de movimientos en el mercado. De todos modos, en caso de su cuenta tenga un margen insuficiente, IBCE tomará las medidas adecuadas y liquidará posiciones sin solicitar una cobertura adicional para que su cuenta vuelva a cumplir con el requisito de margen, el cual está sujeto a cambio. Para obtener más información, consulte la pregunta 10 de las preguntas frecuentes.

 

Si abre una cuenta con IBCE, las normas de custodia de Hungría se aplicarán en su totalidad a su relación con IBCE. Al igual que las normas sobre custodia de Luxemburgo, las normas sobre conducta comercial de Hungría se basan en la Directiva relativa a los mercados de instrumentos financieros y en diversas directivas y normas delegadas (en conjunto, las directivas "MiFID").

 

4.      ¿Estoy protegido contra pérdidas?

De acuerdo con la ley CXX de 2001 sobre mercados de capitales, el Fondo de Protección para Inversores de Hungría podrá proteger sus activos contra pérdidas por hasta un máximo de 100 000 EUR en caso de que IBCE no pueda cumplir con sus obligaciones para con usted. Para ser elegible para el Fondo, deberá tener una relación contractual con IBCE.

La indemnización proporcionada por el Fondo cubre las reclamaciones derivadas de los contratos celebrados dentro del acuerdo con IBCE de la actividad bursátil, custodia de valores, gestión de cuentas de valores, y actividades derivadas de la gestión de cuentas de cliente realizadas por IBCE.

El sistema de indemnización de Hungría es similar al sistema de indemnización al cual tiene acceso en Luxemburgo. El propósito del Fondo es pagarle una indemnización en caso de que:

·     el Banco Central de Hungría inicie la liquidación de IBCE, o

·     un tribunal ordene la liquidación de IBCE. 

 

IBCE es miembro del Fondo (consulte https://bva.hu/en/ipf/ipf-members/). 

Si es elegible, solo podrá realizar una reclamación luego de que la empresa se liquide y sus activos se hayan liquidado y distribuido entre sus acreedores. Verifique la información sobre los límites de los sistemas que pueden aplicarse; no todas las pérdidas podrán recuperarse, ya que existen niveles máximos establecidos para las indemnizaciones.   El Fondo le pagará una indemnización por la cantidad que haya perdido hasta un máximo de 100,000 EUR.

La cantidad que pagará el Fondo es la siguiente:

·     el total hasta el límite del equivalente en EUR a un millón HUF (2805 EUR el 5 de septiembre de 2021),

·     más de un millón HUF: 1 millón HUF y el 90 % del excedente del millón HUF hasta un máximo de 100 000 EUR.

 

5.      ¿Cómo presento una queja ante IBCE? ¿Qué sucede si mi queja se relaciona con algo que sucedió mientras era cliente de IBLUX?

 

Los TCG establecen cómo presentar una reclamación ante IBCE. Los procedimientos de gestión de reclamaciones de IBCE son muy similares a aquellos que se aplican para su relación existente con IBLUX, pero el alcance de las disposiciones para reclamaciones es mucho más estrecho debido a que los servicios proporcionados se limitan a mantener sus activos bajo custodia en un fideicomiso hasta que usted envíe las instrucciones para la transferencia o se convierta en un cliente de IBCE.

 

Si el fundamento de su reclamo se relaciona con algo que sucedió antes de la Transferencia, entonces su reclamación debería estar dirigida a IBLUX. 

 

6.      Luego de la Transferencia, ¿tendré acceso a la CSSF para presentar una reclamación?

En el caso de una reclamación, los inversores deberían seguir el procedimiento de quejas que se indica en el Acuerdo de Cliente de IBLUX. Una vez que la Transferencia se haya realizado, la CSSF dejará de tener jurisdicción sobre las reclamaciones que pueda tener respecto de IBLUX. De todos modos, tenga en cuenta que Hungría tiene un programa de resolución de controversias operado por el Banco Central de Hungría en forma de Tribunal de Arbitraje Financiero ("TAF"). El TAF es un programa de resolución de controversias gratuito e independiente legal para servicios financieros. Es probable que sea elegible para realizar una reclamación ante el TAF si usted es un cliente minorista.  Puede encontrar información sobre el TAF en el siguiente enlace: https://www.mnb.hu/en/hungarian-financial-arbitration-board

 Puede contactar con el TAF a través de los siguientes medios: 

 

Dirección de correo postal

Tribunal de Arbitraje Financiero

1525 Budapest

Pf. 172

 

Correo electrónico

ugyfelszolgalat@mnb.hu

 

7.      ¿Cómo se procesarán y protegerán mis datos personales? ¿Existen diferencias significativas que se aplicarán para mi relación con IBCE en comparación con mi relación existente con IBLUX en este contexto?

 

Sus datos se procesarán y protegerán de conformidad con la política de privacidad de Interactive Brokers Group, la cual puede encontrarse en el siguiente enlace:https://www.interactivebrokers.co.uk/es/index.php?f=15592. No habrá cambios significativos.

 

 

8.      ¿El rango de servicios será el mismo?

 

No. Esta cuenta se ha creado solamente para la custodia segura de sus activos mientras aguardamos por sus instrucciones acerca de adónde transferir sus activos o que se convierta en cliente de IBCE. Como resultado, nuestros servicios están limitados a mantener sus activos y a cumplir los requisitos de margen, cuando proceda.

 

9.      ¿Ha liquidado todas o alguna de las posiciones en mi cuenta para facilitar la Transferencia?

 

Como le explicamos por escrito previamente, en muchos casos hemos liquidado todas o algunas de las posiciones en las cuentas del cliente en la divisa de base de la cuenta para facilitar la Transferencia a IBCE. Cuando hubieren permanecido posiciones, las preguntas 10 y 11 de las preguntas frecuentes tratan acerca de cómo se transferirán y custodiarán en IBCE.

 

10.  Tengo una cuenta de margen. ¿Rigen los términos de margen mi cuenta de forma distinta luego de la Transferencia a IBCE?

 

No. Sus obligaciones y responsabilidades con relación a su cuenta de margen y la negociación con margen seguirán en vigor luego de la Transferencia tal como estaban en IBLUX. De todos modos, no puede bajo los términos actuales operar la cuenta libremente, lo que incluye la apertura de nuevas posiciones, a menos que se convierta en un cliente de IBCE.

 

Revise las disposiciones relacionadas con margen en el Acuerdo de Cliente de IBCE [https://gdcdyn.interactivebrokers.com/Universal/servlet/Registration_v2.formSampleView?formdb=4501], ya que se aplicarán para su cuenta y sus activos mientras se mantienen en custodia en un fideicomiso en IBCE.

 

11.  ¿Qué sucede con los valores entregados a IBLUX como parte del préstamo de margen?

 

Si usted le ha entregado un valor o una garantía a IBLUX, esta se transferirá a IBCE una vez que la Transferencia tenga lugar.

 

12.  ¿Se transferirán todos los saldos de cuenta al mismo tiempo, y cuál será el plazo?

 

IBCE admitirá una cantidad limitada de divisas de depósito.  Las siguientes diez divisas de depósito en efectivo son las "Divisas permitidas para depósito": EUR, USD, GBP, CHF, DKK, NOK, SEK, HUF, CZK y PLN

 

En los casos en que fue apropiado para facilitar la Transferencia, hemos convertido los saldos largos de efectivo en otras divisas a las Divisas permitidas para depósito antes de la migración.

 

De acuerdo con las normas sobre la protección de activos de clientes en Hungría, los fondos de los clientes deberán estar protegidos de la misma forma en la que fueron recibidos por el bróker.  Esto contrasta con su bróker anterior, IBLUX, cuyas normas regulatorias sobre los activos de clientes les permitían proteger sus fondos por un valor equivalente en otra divisa.  Los saldos de divisas en corto no se verán afectados.  

 

Todos los saldos de efectivo se transferirán al mismo tiempo, y su cuenta actual en IBLUX se cerrará y no tendrá acceso a ella para negociar. Aún tendrá acceso a esta cuenta cerrada a través de Client Portal para ver e imprimir extractos del historial.

 

13.  ¿Cambiarán las comisiones y tarifas de IBKR cuando se migre mi cuenta? 

 

Las comisiones y tarifas de IBKR no varían de acuerdo al bróker con el cual se mantiene su cuenta.

 

De todos modos, mientras sus activos se mantienen en custodia en un fideicomiso en IBCE, hasta que transfiera los activos a otra institución financiera o a una nueva cuenta con IBCE, IBCE aplicará una comisión mensual para mantener su cuenta, la cual será inicialmente de 100 EUR. La comisión mensual podrá modificarse ocasionalmente ante el criterio exclusivo de IBCE mediante notificación que podrá ser a través de la página web de IBCE.

 

Además, IBCE no le pagará intereses pero podrá cobrar intereses a los tipos de interés y sobre los saldos de crédito que se establezcan en dicho momento en la página web de IBCE. IBCE también cobrará una comisión por gestión de divisas para los saldos en efectivo en divisas que tengan tipos de interés negativo.

 

Tenga en cuenta que, cuando el saldo de efectivo en su cuenta sea insuficiente para cubrir estas comisiones, IBCE podrá liquidar activos en la misma forma en que IBLUX liquidaría activos antes de la Transferencia.

 

14.  Tengo otras preguntas acerca de lo que cambiará y lo que no luego de la Transferencia? 

 

Si aún tiene inquietudes, contacte con atención al cliente de IBKR.

 

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