How to Submit an Inbound or Outbound Position Transfer via DWAC
DWAC is an electronic method of transferring shares registered in the customer's name on the books of the transfer agent between participating broker/dealers with the transfer agent serving as a custodian. Note that a processing fee may apply.
You can initiate a DWAC transfer request in Client Portal:
DWAC IN
1. Click Transfer & Pay > Transfer Positions.
a. If you have multiple accounts or account partitions, select the account via the Account Selector
2. Select Inbound tab and DWAC as the Method
3. Verify listed information and click Add Asset button
4. Choose your Asset Type and search by Symbol, by CUSIP number or by ISIN number
a. If you cannot find the asset using the Symbol, please try searching via CUSIP or ISIN
b. Only enter one identifier per symbol
5. Click the selected asset, and enter the quantity and type of assets (Long or Short) to transfer. Click the toggle switch to YES to transfer your entire position of the selected symbol. Click Add.
a. If you made a mistake, you can remove assets from the transfer by clicking the X in the asset list. Click CONTINUE.
6. Repeat for any additional assets
7. Type your signature in the Signature field, and then click Continue.
DWAC OUT
1. Click Transfer & Pay > Transfer Positions.
a. If you have multiple accounts or account partitions, select the account via the Account Selector
2. Select Outbound tab and DWAC as the Method
3. Verify listed information and click Add Asset button
4. Choose your Asset Type and search by Symbol, by CUSIP number or by ISIN number
a. If you cannot find the asset using the Symbol, please try searching via CUSIP or ISIN
b. Only enter one identifier per symbol
5. Click the selected asset, and enter the quantity and type of assets (Long or Short) to transfer. Click the toggle switch to YES to transfer your entire position of the selected symbol. Click Add.
a. If you made a mistake, you can remove assets from the transfer by clicking the X in the asset list. Click CONTINUE.
6. Repeat for any additional assets
7. Type your signature in the Signature field, and then click Continue.
Please Note
- DWAC fees are USD 100.00 per DWAC. The account must also ensure enough funds are available to absorb the fees prior to setting up a DWAC request.
- The IBKR cutoff time for transmitting a DWAC transfer is 3:15 PM EST