Transfer Methods

Description

Time to Arrive

Applicable Fee(s)

Limitation

 Free of Payment (FOP)

Delivery of long US stock positions, US Warrant positions, and Corporate and Municipal Bond positions from another US bank or broker that is a member of the Depository Trust Company (DTC).  

Transfers are generally completed during the same business day as initiated, but this depends on your third-party broker.

None

Only available for long US Stock positions, US Warrant positions, and Corporate Municipal Bond positions.

FOP is not available for IRA accounts.

FOP notices are valid for five business days before expiring. Once the notice has expired IB will not accept the shares.

Direct Registration System (DRS)

An electronic system for registering stock with an issuer/company's transfer agent.  These shares are in electronic book-entry format and can be transferred to and from a brokerage account.  DRS shares are already issued and held electronically in book-entry format at the transfer agent. You can also upload positions in a .CSV file for a partial DRS transfer.

Once a customer request is submitted via Account Management, the IB system creates a notification. Upon receipt or delivery of shares from or to the transfer agent, the IB system will generate a transaction that will cause the shares to settle into or out of the customer's account.

Note that a processing fee may apply. For details, see the Other Fees page.

DRS requests can pend up to 30 days, although agents typically respond to a request within two to five days.

 Deposit/Withdrawal at Custodian (DWAC)

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. DWAC usually refers to new or certified paper shares to be electronically transferred.

DWAC requests settle or are rejected on the same day that the request is made. Transfer agents must approve all requests transmitted to them by the participating broker. Requests that are not approved by the end of the day are rejected. Once a DWAC request is rejected, a new customer-initiated request must be submitted by the stock holder in order to process the transfer.

Note that a processing fee may apply. For details, see the Other Fees page.

Since transfer agents must actively approve DWACs, these kinds of requests require prior coordination between the client and the transfer agent. Any requests not previously communicated will be rejected by the transfer agent.

US Futures Transfer

Print the transfer form from the Transfer Positions page in Account Management and fax it to Interactive Brokers.  

Allow five to seven business days from time of fax, under normal circumstances, for positions and funds to arrive.  From time of fax, five to seven business days under normal circumstances.

N/A

Futures positions and cash will be transferred separately. The cash must be transferred via wire transfer.