FAQ : Brexit - Migration de compte
INTRODUCTION
Interactive Brokers Group (« IB ») et sa filiale au Royaume-Uni, Interactive Brokers (U.K.) Limited (« IBUK ») se sont préparés à la fin de la période de transition du Brexit, actuellement prévu pour le 31 décembre 2020, et ont prévu diverses dispositions pour nos clients européens. Notre priorité est d'assurer une transition ininterrompue et la continuité de nos services à nos clients avec le moins de perturbations et changements possibles. Les clients concernés par cet événement recevront des notifications précisant les changements et les délais. Retrouvez ci-dessous le Forum aux questions concernant la migration des comptes d'IBUK vers un de nos autres courtiers européens.
FAQ
Q : Quelles mesures sont prises par IBKR pour assurer la continuité des services de courtage lors de la transition, le 1 janvier 2021 ?
R : En 2018, IBKR a fondé Interactive Brokers Luxembourg SARL (« IBLUX ») qui a obtenu une autorisation réglementaire en 2019. De plus, nous sommes en train de créer deux nouveaux courtiers dans l'Union européenne : Interactive Brokers Ireland Limited (« IBIE ») et Interactive Brokers Central Europe Befektetési ZRt (« IBCE »).
Nous avons l'intention de déplacer tous les clients touchés par le Brexit dans un des ces courtiers localisé dans l'Union européenne (« courtiers UE ») avant le 31 décembre 2020. Les transferts vers IBIE et IBCE se feront sous réserve de l'obtention d'une licence de la part des autorités nationales compétentes.
Q : Auprès de quel courtier IBKR mon compte sera-t-il déplacé ?
R : Nous n'avons pas encore pris de décision quant à la répartition des comptes vers IBLUX, IBIE et IBCE. Nous prévoyons que la majorité des clients en Europe de l'Ouest seront déplacés vers IBIE, ceux en Europe centrale et de l'Est vers IBCE et une minorité vers IBLUX. D'autres facteurs seront pris en compte notamment le type de compte et le positions.
Tous les clients recevront un message leur indiquant le courtier auquel ils ont été affectés avant de recevoir la demande de migration.
Q : Quels client sont concernés par cette migration ?
R : Les clients concernés sont les personnes résidant au sein de l'Union européenne ou les comptes d'entité formée dans un pays de l'Union européenne. La majorité de ces comptes sont avec Interactive Brokers (U.K.) Limited (« IBUK »).
Q : Comment obtenez-vous l'accord des clients ?
R : Vous recevrez un e-mail vous demandant de vous connecter à votre Portail Client quand vous serez prêt à déplacer votre compte. Une fois connecté(e), les informations nécessaires et l'Accord client, auxquels vous pourrez donner votre accord en ligne, vous seront fournis. Les clients ne répondant pas à l'e-mail initial recevront des e-mails de rappel.
Q : Que se passera-t-il si je ne fais rien ?
R : Si vous ne répondez pas à nos demandes pour donner votre accord, votre compte recevra les mêmes restrictions de trading et de transfert que si vous décidiez de ne pas donner votre accord. Veuillez également noter que votre compte restera sujet aux mêmes conditions générales que votre accord actuel (notamment les politiques de frais et marges) jusqu'au moment où il aura été déplacé vers un courtier UE désigné, transféré à un courtier externe à IBKR ou fermé.
Q : Que se passera-t-il si je ne suis pas d'accord avec le transfert ?
R : Si vous n'êtes pas d'accord avec le transfert de vos comptes vers le courtier UE désigné, votre compte se verra restreint dans l'ouverture de nouvelles transactions ou le transfert de fonds et/ou positions supplémentaires. Ces restrictions ne vous empêcheront pas de transférer votre compte en dehors d'IBKR.
Q : Mes identifiants vont-ils changer ?
R : Non. Votre nom d'utilisateur, votre mot de passe et toute authentification à 2 facteurs existant pour votre compte restera actif après la migration. Cependant, vous recevrez un nouveau numéro de compte pour votre compte déplacé.
Q : Aurai-je accès aux mêmes plateformes de trading ou y aura-t-il des changements de logiciels à prévoir après la migration ?
R : La migration n'aura pas d'impact sur le logiciel que vous utilisez pour trader ou gérer votre compte. L'offre technologique restera la même.
Q : Les soldes de compte seront-ils tous transférés en même temps ?
R : Tous les soldes, à l'exception des provisions (ex : intérêts et dividendes) seront transférés en même temps. Les provisions seront transférées lorsqu'elles auront été générées. Dans le cas d'intérêts, les provisions sont généralement annulées, et les liquidités sont envoyées la première semaine du mois suivant la provision. Dans le cas de dividendes, la provision est annulée, et les liquidités compensatoires sont envoyées à la date à laquelle l'émetteur paye le dividende.
Q : Qu'arrivera-t-il à mon compte actuel après la migration ?
R : Votre compte actuel sera fermé quand toutes les provisions seront liquidités et transférées sur le compte déplacé. Une fois fermé, il sera inaccessible pour trading, mais il restera accessible à partir d'un sélecteur de compte dans le Portail Client pour consulter ou imprimer des relevés.
Q : Les commissions et frais seront-ils différents lorsque mon compte sera déplacé ?
R : Non. Les commissions et frais IBKR ne varient pas en fonction du courtier chez qui vous êtes.
Q : Mes autorisations de trading vont-elles changer lorsque mon compte sera déplacé ?
R : Vos autorisations de trading resteront les mêmes à l'exception des comptes déplacés vers IBLUX qui ne pourront pas effectuer de transactions de devises à effet de levier en raison de restriction réglementaires. Bien que nous ne pensons pas que des restrictions similaires s'appliqueront pour les comptes IBIE et IBCE, nous vous informerons de tout changement avant de vous demander de migrer.
Q : Les ordres ouverts (ex. Good-til-Canceled) seront-ils transférés lorsque mon compte sera déplacé ?
R : Les ordres ouverts seront transférés vers le nouveau compte, cependant, nous recommandons aux clients de vérifier leurs ordres immédiatement après la migration pour s'assurer qu'ils sont toujours conformes à leurs intentions de trading.
Q : Serais-je sujet à la règle de Pattern Day Trading des États-unis quand mon compte sera déplacé ?
R : Les comptes détenus par IBUK sont sujets à la règle de Pattern Day Trading des États-unis (PDT) car les comptes sont introduits et retenus par IBL, un courtier aux États-Unis. La règle PDT restreint les comptes de moins de 25,000 USD à moins de 3 jours de trading sur une période de 5 jours ouvrés.
Les comptes déplacés vers IBLUX, IBIE ou IBCE n'étant pas introduits par IBL, ils ne seront pas sujets à la règle PDT.
Q : Vais-je recevoir un seul relevé de compte annuel à la fin de l'année ?
R : Non. Vous recevrez un relevé annuel pour votre compte existant pour la période du 1 janvier 2020 à la date de migration et un deuxième relevé pour votre nouveau compte pour la période entre la date de migration et le 31 décembre 2020.
Q : Le coût de base actuel des positions sera-t-il transféré lorsque mon compte sera déplacé ?
R : Oui, la migration n'aura aucun impact sur le coût de base de vos positions.
Q : La configuration du compte déplacé sera-t-elle la même que le compte actuel ?
R : Après la migration, la configuration du compte correspondra à celle du compte actuel dans les limites de la réglementation. Les attributs concernés sont la capacité de marge, les données de marché, les utilisateurs supplémentaires et les alertes. En de rares occasions, un compte sera déplacé vers une juridiction où l'étendue de l'admissibilité des produits ne peut être proposée. Les clients détenant ces produits restreints pourront se déplacer et maintenir ou clôturer ces positions mais ne pourront pas les augmenter.
Q : Que se passera-t-il si IBKR n'obtient pas l'accord réglementaire nécessaire pour déplacer les comptes avant le 31 décembre 2020 ?
R : IBLUX, même approuvé, est sujet à des contraintes importantes sur la taille autorisée de l'entreprise et une licence pour IBIE et IBCE est donc nécessaire pour terminer la migration avant le 31 décembre 2020. S'il est déterminé qu'aucune licence ne sera reçu à temps, nous contacterons les clients pour leur expliquer ce qu'il adviendra de leur compte à la fin de la période de transition du Brexit.
Q : Après la migration, , pourrai-je toujours adresser mes plaintes au UK Financial Ombudsman Service ?
R: Les clients d'IBUK peuvent avoir des plaintes non résolues à leur entière satisfaction, traitées par le UK Financial Ombudsman Service. Une fois que le compte sera déplacé vers IBLUX, IBIE ou IBCE, le UK Financial Ombudsman Service ne pourra plus s'appliquer et nous vous informerons de tout service de remplacement. Veuillez noter que la migration n'aura pas d'impact sur notre traitement interne des plaintes.
Q : Quel sera l'impact de la migration sur la protection des données ?
R : La migration de votre compte d'IBUK vers IBLUX, IBIE ou IBCE ne changera pas la manière dont nous protégeons vos données personnelles, conformément aux règles de protection des données. IBLUX, IBIE et IBCE prendront tous la responsabilité de protéger vos données et continueront de se conformer à nos normes élevées concernant la protection de vos données personnelles.
Q : Quel sera l'impact de la migration sur la protection de mon compte ?
R : L'assurance protection disponible pour nos clients dans la cas d'une défaillance de la part d'un courtier est généralement moins favorable dans l'Union européenne par rapport au Royaume-uni ou au États-Unis.
Actuellement, à condition qu'ils répondent aux exigences, les clients IBUK peuvent être protégés par rapport aux services d'investissement par le UK Financial Services Compensation Scheme (« UK FSCS ») pour un montant pouvant aller jusqu'à 50,000 £. Les clients IBUK étant tenus par notre courtier aux États-Unis, IBL, le segment de titres de leur compte peut être admissible pour assurance par la Securities Investor Protection Corporation (« SIPC ») à un montant pouvant aller jusqu'à 500,000 USD (sujet à une sous-limite de trésorerie de 250,000 USD).
Avec les courtiers UE, IBLUX, IBIE et IBCE, les demandeurs admissibles peuvent pouvoir demander une compensation pouvant aller jusqu'à 20,000 EUR. Plus d'informations sur le plan applicable, la couverture et les plaintes vous seront transmises en même temps que notre demande de transfert.
Étant donnée la capitalisation totale de 8.25 milliards USD du groupe Interactive Brokers, ainsi que les politiques de marge prudentes, appliquées par tous les courtiers, qui comprennent des vérification de pré-crédit pour acceptation d'ordres et des liquidations automatiques des comptes n'étant pas en conformité avec nos marges, nous pensons que cette migration n'aura pas d'impact sur la sécurité des actifs des clients.
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Converting From a Single to Joint Account
The process of adding a second owner to an existing single account for purposes of converting to a joint account is outlined below:
1. As the joint account structure differs from that of the individual in terms of account holder information required, legal agreements and, in certain cases, taxpayer status, direct conversion is not supported and a new joint account application must be completed online.
The joint application may be initiated online from the single account by logging into Client Portal and clicking the User menu (head and shoulders icon in the top right corner) followed by Manage Account. Click the Configure (gear) icon next to the words Open an Additional Account. This process will allow you to retain your existing user name, password and security device for purposes of operating the joint account. Be sure to request trading permissions and, if necessary, margin status, sufficient to maintain the positions currently carried in your individual account. Note that if your account is managed by a financial advisor or you are a client of an introducing broker, please contact your advisor or broker to initiate the new application (you may need to make arrangements with your advisor or broker for fees that have accrued but not yet paid if the individual account closes).
The joint account application requires Compliance review and approval and documentation evidencing the identity and address of the second account holder may be required. If this is the case, notice as to the required documents and how to submit will be provided at the conclusion of the online application.
2. Once you have received an email confirming approval of the joint account application, send a request from your Message Center authorizing IBKR to manually transfer positions from your single to joint account. Prior to submitting the request you should make sure to close all open orders in the individual account to ensure that no executions take place following the transfer.
Due to the manual steps and scheduling required, you should allow a minimum of one week after joint account approval and submitting your request for the transfer to take effect.
IMPORTANT NOTES
1. Note that exchange regulations preclude ownership transfer of derivative contracts such as futures and options. If you are holding such positions you would either need to close them prior to the transfer taking place or request that they remain in your individual account.
2. Prior to processing the transfer, you should make sure to close all open orders in the individual account to ensure that no executions take place following the transfer.
3. The SMA (Special Memorandum Account) balance in your individual account will not transfer to the joint account. In certain cases this may impact your ability to open new positions in the joint account on the first day after the transfer is completed.
4. Elective options such as participation in IBKR's Stock Yield Enhancement Program will not be carried over to the joint account and must be re-initiated to continue.
5. The cost basis of transferred positions as reported in the activity statements will remain unchanged for tax purposes.
6. Once the transfer has been completed and assuming all positions have been transferred your individual account will be designated for automatic closure. Note that certain balances such as dividend accruals can’t be transferred until paid, after which they will then be transferred and your individual account closed.
7. You'll receive any applicable tax forms for the reportable activity transacted in each of your individual and joint accounts at year end. Access to Client Portal for your individual account will remain after it has been closed for the purpose of reviewing and printing activity statements and tax forms.
8. IBKR does not provide tax advice or investment guidance and recommends that account holder consult with qualified professionals to determine any legal, tax or estate planning consequences associated with single to joint transfer requests.
How to Reopen a Closed Account
Accounts which have been closed are generally eligible to be reopened, subject to the following:
1. The account was opened after January 1, 2002;
2. The taxpayer status of the account is properly documented;
3. The account is compliant with respect to all documentation required for regulatory purposes;
4. If the account is a sub or client account of a master, the master account is open.
The reopening request may be submitted online by logging into Account Management and selecting the Manage Account, Settings and then Reopen Account menu options (Note that the email and password combination necessary to log in remain the same as that at the point your account was closed). Alternatively, requests may be submitted by contacting your local Client Service Center.
Once your request has been submitted it is subject to review by our Compliance Department. Please note that these requests are processed in the order by which they are received and you should allow a minimum of 48 hours to complete.
Notification of approval is sent to the email address of record, after which you will need to log into Account Management and submit a deposit notification. The minimum deposit required to re-open is USD 10,000, or equivalent; the same as that for opening a new account.
Also note that in certain instances, you may be required to update account information and/or documents which are deemed by our Compliance Department to be obsolete. If this is required, you will receive an email outlining those which are required.
W8 Re-certification
If you are not a U.S. citizen or entity formed within the U.S. and have an account with Interactive Brokers, you are requested to declare your citizenship or country of formation with the US tax authority (IRS). This declaration can be done online by correctly filling out the W-8BEN form. Filling out this form is an easy process that only takes a few minutes. In the short movie below, we show you where to find the W-8BEN in your IB account management and how to fill it out.
If you fail to declare your foreign citizenship or country of formation, and IB does not have a valid W-8BEN form on file, you are presumed to be a US person/entity without a proper tax certification. As a US person/entity, you will be subject to backup withholding at a rate of 28% on interest, dividends, and substitute payments in lieu; as well as gross proceeds.
Every 3 years the IRS requires a re-certification of the W-8BEN form. IB will ask the beneficial account owner to re-certify their foreign status by re-signing the W8-BEN in order to continue their status as a foreign person and claim the tax treaty benefits. If you experience any problems or have questions regarding the W-8BEN form or how IB handles Non-US persons and entities, select this Tax Information and Reporting link and choose the tab Non-US Persons and Entities or consult the following IRS information page for more details: www.irs.gov/instructions/iw8/ch02.html
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.
ACATS Transfer Guide (US brokerage account transfers)
ACATS Transfer Guide
Introduction
Understanding the basic facts about transferring accounts between US brokerage firms can be help to avoid delays. Through this article and other Knowledge Database resources, Interactive Brokers seeks to assist with your incoming and outgoing ACATS requests.
US brokerage firms utilize a standardized system to transfer customer accounts from one firm to another. Known as the Automated Customer Account Transfer Service or ACATS, the process allows assets to move seamlessly between brokerage firms in a unified time frame. ACATS transfers are facilitated by a third party, the National Securities Clearing Corporation (NSCC), to assist participating members with timely asset transfers.
ACATS Transfer Benefits
The majority of assets may be transferred between US brokerage firms and some banks through ACATS. This standardized system includes stocks, US corporate bonds, listed options, unit investment trusts, mutual funds, and cash. Information on assets eligible for transfer is provided at "Assets Eligible..." Though impacted by multiple factors and time constraints, the accepted or rejected transfers finalize within 10 business days in most cases.
Navigating The Process
4 simple steps of the ACATS process will help you understand the flow and minimize delays. Familiarizing yourself with the transfer process helps to ensure a successful transition.
1. Incoming or Outgoing
Incoming ACATS Transfers
The financial institution that is receiving your assets and account transfer is known as the "receiving firm." Investors always work with and through the "receiving firm" to move full or partial account assets into a new broker.
Contact the "receiving firm" (Interactive Brokers) to review the firm's trading policies and requirements. You should verify that your assets are eligible for trading at the "receiving firm" before initiating the transfer request. Not all ACATS transferable assets are acceptable for trading at every brokerage firm.
Outgoing ACATS Transfers
All outgoing ACATS transfers, full or partial, must be approved by the "delivering firm." Investors, however, should work with and through the "receiving firm" in order to begin the the transfer process or to status the progress of the request.
2. Initiating Your Transfer
Investors must always begin the ACATS transfer with the "receiving firm." An ACATS transfer form or Transfer Initiation Form (TIF) must be submitted. The "receiving firm" takes your reqeust and communicates with the "delivering firm" via ACATS. The process begins with this request for transfer of the account.
For your Interactive Brokers Account, the transfer is usually submitted online. Video instruction on submitting the transfer is provided at "How to deposit funds via a full ACATS/ATON Transfer." or through Step-by-step instructions.
Note: Outgoing account transfers from your IB account should be directed to the other broker. Your request will be submitted to IB from the other broker through the ACATS electronically.
3. What to Expect
Your Account
Brokers ensure the safety and security of transfer requests by only authorizing requests between open accounts that meet the following criteria:
- Same Account Title
- Same Tax ID Number
- Same Account Type
Transfer Approval
Ultimately responsible for validating the transfer, the "delivering firm" may accept information from the "receiving firm" correcting data originally entered. Approved or validated requests result in the delivery of positions to the "receiving firm" for their acceptance. Assets may not be accepted by the "receiving firm" for the following:
- Non-marginable or Margin (credit) violation
- Not Tradable
- DTC Chill
Note: The most common reasons for ACATS rejections are outlined by clicking here.
Processing Time-frame
The processing time for each transfer request is fixed. In general, approved transfers complete within 4 to 8 business days. Almost all transfers complete within 10 business days. Each firm is required to perform certain steps at specific intervals in the process. Feel free to review the Full ACATS transfer process flow.
Fees
While Interactive Brokers does not charge a fee to transfer your account via ACATS, some brokers do apply a fee for full and partial transfers. Prior to initiating your transfer, you should contact the "delivering firm" to verify any charge.
4. Who To Contact For Help
Interactive Brokers Customer Service stands poised to assist with your incoming ACATS transfer reqeust. Click here for Customer Service contact resources.
Note: Outgoing or ACATS transfers sending accounts to another broker should be directed to the "receiving firm." Their Account Transfer Group will work with Interactive Brokers directly to complete your outgoing request.
Tax Treaty Benefits
Overview:
Income payments (dividends and payment in lieu) from U.S. sources into your IB account may have U.S. tax withheld. Generally, a 30% rate is applied to non-U.S. accounts. Exemption from the withholding or a lower rate may apply if your home country has a tax treaty with the U.S. Complete the applicable Form W-8 to find out your status.
Background:
Tax Treaties*
U.S. tax treaties with some countries have different benefits. Legal tax residents of the following countries may be eligible for the treaty benefits. Below is a list of the tax treaty countries. Benefits vary by country.
| Australia | Czech Republic | India | Lithuania | Sweden |
| Austria | Denmark | Indonesia | Poland | Switzerland |
| Bangladesh | Egypt | Ireland | Portugal | Thailand |
| Barbados | Estonia | Israel | Romania | Trinidad & Tobago |
| Belgium | Finland | Italy | Russia | Tunisia |
| Bulgaria | France | Jamaica | Slovak Republic | Turkey |
| Canada | Germany | Japan | Slovenia | Ukraine |
| China, People's Rep. Of | Greece | Kazakhstan | South Africa | United Kingdom |
| Commonwealth of Ind. States | Hungary | Korea, Rep. of | Spain | Venezuela |
| Cyprus | Iceland | Latvia | Sri Lanka |
*Country list as of April 2009
Refer to IRS Publication 901 for details on withholding rates for your tax residence country and your eligible benefits.
Which Tax Form Should I Select?
Overview:
3 simple questions can help you choose a tax certification form. Read the questions and select the form. For more detailed help, see Tax Information & Reporting.
Question # 1: Are you a U.S. Person or a U.S. Entity?
| • U.S. Citizen | • U.S. Business or Organization |
| • U.S. Green Card Holder | • U.S. Domestic Trust |
| • U.S. Legal Resident | |
If the answer is YES, complete Form W-9
If the answer is NO, go to # 2.
Question # 2: Do you have a U.S. Visa?
| • H-1B Visa Holder | • TN Visa Holder |
| • O-1 Visa Holder | |
If the answer is YES, find your status by the "substantial presence test." See More U.S. Legal Resident Info
If the answer is NO, go to # 3.
Question # 3: Are you a Legal Resident or Entity of another country?
*Question does Not apply to U.S. Citizens/Entities or Green Card Holders
| • Permanent Home Outside of U.S | • Entity Formed Outside of U.S. |
| •Business or Organization formed outside of U.S. | |
If the answer is YES, complete Form W-8 (U.S. Citizens, Green Card Holders, and Entities still complete the W-9.)
NOT SURE because you work, live, or study in the U.S. then, see More U.S. Legal Resident Info
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.
Certify Your Tax Status
Overview:
Filling out a tax certification form is required to open an IB account. The forms confirm your tax status in relation to the United States. Information provided by you may lower or exempt the U.S. tax withholding on your account.
Background:
This article will help you to:
►Choose the correct certification form ►Find your tax treaty benefits
►Fill out and submit your form online ►Answer tax certification questions
Which Form Do You Pick? |
Tax Treaty Benefits |
|
Management of account activity differs for each account type. IB is a U.S. broker and must follow U.S. guidelines. 3 simple questions help you choose the right form |
Some countries have a tax treaty with the U.S. Find out if you benefit from a lower tax-withholding rate. Tax Treaty Benefit Info |
Filling Out The Form |
Tax Certification – FAQ’s |
| The certification form is direct. Supply basic account information on the true owner of the assets or entity. Select W-9 Instructions or W-8 Instructions for help. | Seek professional advice for tax questions. These common questions and answers may help you make an informed decision. Tax Certification - Frequently Asked Questions |
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 advisor or refer to the U.S. Internal Revenue Service.
How and When to Use a Direct Rollover
Overview:
This information is for general educational purposes only. Individuals should consult with their financial adviser or legal counsel to determine how rollover regulations affect their unique situations.
Generally, an investor changing jobs or leaving the workforce may utilize either a Direct Rollover election to continue their retirement savings outside of their employer-sponsored retirement plan. Assets distributed directly to your IRA from the retirement plan may qualify as a Direct Rollover.
What is a Direct Rollover?
The Direct Rollover is a tax-free distribution to you of cash or other assets from one retirement plan that you contribute to another retirement plan, including an IRA. The contribution to the IRA is called a rollover contribution. The Direct Rollover method transfers the assets directly from the retirement plan (and not to the IRA owner) into the investor's IRA, avoiding the 20% mandatory IRS withholding. This option to transfer retirement assets has no age limitations.
Eligible retirement plans include:
- Employer's qualified pension, profit -sharing, or stock bonus plan
- Annuity plan
- Tax sheltered annuity plan (section 403(b) plan)
- Governmental deferred compensation plan (section 457 plan)
Who do you contact first?
Contact your retirement plan administrator or the human resources office for eligibility and requirements. The plan administrator is required to provide a reasonable direct method of asset transfer. Completion of an IRA Rollover Form provided by the administrator may be required, in some cases. In other cases, the plan accepts an IRA Rollover Form supplied by your IRA's broker. Therefore, it is important to check with the plan administrator.
Initiating your Direct Rollover through IB
For those transfers that require a broker-supplied IRA Rollover Form, Interactive Brokers provides a convenient IRA Rollover Form. Interactive Brokers will forward the request to the plan administrator or broker for processing. Funds may be transferred by either wire transfer or check directly to Interactive Brokers.
Before accepting an IRA rollover transaction into an IRA, we require that you review your eligibility for the rollover and certify your understanding of the rollover rules and conditions. The IRA Rollover Form includes the Rollover Form and an IRA Rollover Certification Form.
The Fund Transfers page within the Account Management lets you notify IB of an IRA Rollover deposit of funds into your account. Select the Funding tab in the header link and choose Deposit Funds in the Transaction list. In the Method list, select Direct Rollover. Complete, sign, and return both forms to the Interactive Brokers address on the form.
Contact Customer Service with any additional questions.
In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this article was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer.
