Withholding on Publicly Traded Partnerships (“PTPs”) Effective Jan 2023
Background:
As a result of U.S. Internal Revenue Regulations taking effect 1 January 2023, new withholding charges will be applied to sales proceeds from certain Publicly Traded Partnerships ("PTPs”) held by investors who are not U.S. taxpayers. The IRS withholding charges are substantial, therefore, Interactive Brokers has taken steps to limit access to these products for investors who might be unaware of the risks of investing in these PTP products.
Instructions on How to Access PTP Products are available below in this document.
What you need to know:
Amount of Withholding: 10% of sale or distribution proceeds. This means 10% of the amount of funds that would settle resulting from any transaction or distribution, not just 10% on any calculated profit.
Example of PTP withholding:
Buy 200 shares @ 50.
Transaction value = $10,000
Sell 200 shares @ 51.
Transaction value = $10,200
Profit = $200.
Withholding = $1020 USD
Assuming no tax reclaim requests, the loss in value to the investor would be $820
Affected Instruments: Please see the list at the end of this article. The list is maintained on a best efforts basis and there may be some timing issues as information is refreshed. Listed deliverable securities are in scope of the new regulation. Options and other derivative instruments with a PTP as the underlying security are not subject to withholding. However, if the option or derivative is converted into a PTP interest, a subsequent sale of such PTP security would be subject to withholding.
Special Exemptions: The IRS regulation provides issuers the ability to get an exemption from the PTP withholding requirement. The exemption is valid for 92 days, and issuers are required to re-certify with the IRS to extend the duration of the exemption. IBKR will try, on a best-efforts basis, to publish which of the affected instruments have an operating exemption, but investor’s should ensure they are choosing products whose withholding conditions they fully understand. The issuer document that provides for a withholding exemption is generally referred to as a "Qualified Notice"
What Investors are affected: All investors who are not considered ‘resident’ for U.S. tax purposes, i.e. investors who are not subject to U.S. taxation and tax reporting (and therefore doesn't file a W-9 IRS tax form).
Reporting: Withholding will be reported on the year-end Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding.
How to Access PTP Products as a Non-US Taxpayer: Please login to Client Portal and create a web ticket through the Message Center. The summary of the message should read "Access to PTP Products" and the body of the message should have a request to enable trading for PTP symbols.
Additional Resources: For those interested in understanding additional information about the new regulation, please see the IRS website for IRC Sec. 1446(f): http://www.irs.gov/individuals/international-taxpayers/partnership-withholding
PTP Instruments
This list identifies PTP securities which may be subject to withholding under the IRS Regulation referenced above. The products are presented in 2 groups: those with a "Qualified Notice” exemption, and those "without Qualified Notice". The lists are shown on a best efforts basis for convenience only. IBKR does not guarantee the accuracy or timeliness of the information, and investors should independently verify that products in which they are invested in, or intend to invest, have the necessary exemptions to avoid punitive withholding outcomes. Duration of the exemptions should also be monitored by position holders in the instruments.
PTP Securities with known Qualified Notice
|
ISIN |
Symbol |
Name |
|
US92891H1014 |
SVIX |
-1X SHORT VIX FUTURES ETF |
|
US92891H3093 |
UVIX |
2X LONG VIX FUTURES ETF |
|
US0917491013 |
BITW |
BITWISE 10 CRYPTO INDEX FUND |
|
BMG162341090 |
BBU |
BROOKFIELD BUSINESS PT-UNIT |
|
BMG162522756 |
BIP PRB |
BROOKFIELD INFRASTRUCTUR |
|
BMG162521014 |
BIP |
BROOKFIELD INFRASTRUCTURE PA |
|
USG162522670 |
BIP PRA |
BROOKFIELD INFRASTRUCTURE PARTNERS LP |
|
BMG162491499 |
BPYPP |
BROOKFIELD PROPERTY PART |
|
BMG162491564 |
BPYPO |
BROOKFIELD PROPERTY PART |
|
BMG162491648 |
BPYPN |
BROOKFIELD PROPERTY PART |
|
BMG162582313 |
BEP PRA |
BROOKFIELD RENEWABLE PAR |
|
BMG162581083 |
BEP |
BROOKFIELD RENEWABLE PARTNER |
|
CA16141A1030 |
CSH.UN |
CHARTWELL RETIREMENT RESIDEN |
|
US21258A2015 |
SPKX |
CONVXTY SHS 1X SPIKES FUTUR |
|
US21258A1025 |
SPKY |
CONVXTY SHS DAILY 1.5X SP FU |
|
US26800L1008 |
WEIX |
DYNAMIC SHORT SHORT |
|
CA3874371147 |
GRP U |
GRANITE REAL ESTATE INVESTME |
|
US88166A8053 |
DEFI |
HASHDEX BITCOIN FUTURES ETF |
|
US46140H1068 |
DBA |
INVESCO DB AGRICULTURE FUND |
|
US46140H7008 |
DBB |
INVESCO DB BASE METALS FUND |
|
US46138B1035 |
DBC |
INVESCO DB COMMODITY INDEX T |
|
US46140H3049 |
DBE |
INVESCO DB ENERGY FUND |
|
US46139B1026 |
DBV |
INVESCO DB G10 CURRENCY HARV |
|
US46140H6018 |
DGL |
INVESCO DB GOLD FUND |
|
US46140H4039 |
DBO |
INVESCO DB OIL FUND |
|
US46140H5028 |
DBP |
INVESCO DB PRECIOUS METALS F |
|
US46140H2058 |
DBS |
INVESCO DB SILVER FUND |
|
US46141D2036 |
UUP |
INVESCO DB US DOLLAR INDEX B |
|
US46141D1046 |
UDN |
INVESCO DB US DOLLAR INDEX B |
|
US46428R1077 |
GSG |
ISHARES S&P GSCI COMMODITY I |
|
BMG540501027 |
LAZ |
LAZARD LTD-CL A |
|
BMG1624R1079 |
BPYPM |
NEW LP PREFERRED UNITS CAD |
|
CA70214T1012 |
PVF.PR.U |
PARTNERS VALUE INVEST LP |
|
CA70214T1194 |
PVF.UN |
PARTNERS VALUE INVESTMENTS I |
|
US74347W1302 |
SVXY |
PROSHARES SHORT VIX ST FUTUR |
|
US74347Y8883 |
UCO |
PROSHARES ULTRA BLOOMBERG CR |
|
US74347Y8701 |
BOIL |
PROSHARES ULTRA BLOOMBERG NA |
|
US74347W8745 |
ULE |
PROSHARES ULTRA EURO |
|
US74347W6012 |
UGL |
PROSHARES ULTRA GOLD |
|
US74347W3530 |
AGQ |
PROSHARES ULTRA SILVER |
|
US74347Y8396 |
UVXY |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W2706 |
YCL |
PROSHARES ULTRA YEN |
|
US74347Y7976 |
SCO |
PROSHARES ULTRASHORT BLOOMBE |
|
US74347Y8131 |
KOLD |
PROSHARES ULTRASHORT BLOOMBE |
|
US74347W8828 |
EUO |
PROSHARES ULTRASHORT EURO |
|
US74347W3951 |
GLL |
PROSHARES ULTRASHORT GOLD |
|
US74347Y8479 |
ZSL |
PROSHARES ULTRASHORT SILVER |
|
US74347W5691 |
YCS |
PROSHARES ULTRASHORT YEN |
|
US74347W3381 |
VIXM |
PROSHARES VIX MID-TERM FUT |
|
US74347Y8545 |
VIXY |
PROSHARES VIX SHORT-TERM FUT |
|
US85814R2067 |
SPLP PRA |
STEEL PARTNERS HOLDINGS LP |
|
US88166A7063 |
TAGS |
TEUCRIUM AGRICULTURAL FUND |
|
US88166A1025 |
CORN |
TEUCRIUM CORN FUND |
|
US88166A6073 |
SOYB |
TEUCRIUM SOYBEAN FUND |
|
US88166A4094 |
CANE |
TEUCRIUM SUGAR FUND |
|
US88166A5083 |
WEAT |
TEUCRIUM WHEAT FUND |
|
US91288X1090 |
UNL |
UNITED STATES 12 MONTH NATUR |
|
US91288V1035 |
USL |
UNITED STATES 12 MONTH OIL |
|
US91167Q1004 |
BNO |
UNITED STATES BRENT OIL FUND |
|
US9117171069 |
USCI |
UNITED STATES COMMODITY INDE |
|
US9117181043 |
CPER |
UNITED STATES COPPER INDEX |
|
US91201T1025 |
UGA |
UNITED STATES GAS FUND LP |
|
US91232N2071 |
USO |
UNITED STATES OIL FUND LP |
|
US9123183009 |
UNG |
US NATURAL GAS FUND LP |
PTP Securities without Qualified Notices
|
ISIN |
Symbol |
Name |
|
US28252B3096 |
- |
1847 HOLDINGS LLC |
|
US28252B8046 |
EFSH |
1847 HOLDINGS LLC |
|
US00434L1098 |
- |
ACCESS MIDSTREAM PARTNERS LP |
|
US0093661058 |
AIRL |
AIRLEASE LTD |
|
US01855A1016 |
AC |
ALLIANCE CAP MGMT LP |
|
US01861G1004 |
AHGP |
ALLIANCE HOLDINGS GP LP |
|
US01877R1086 |
ARLP |
ALLIANCE RESOURCE PARTNERS |
|
US01881G1067 |
AB |
ALLIANCEBERNSTEIN HOLDING LP |
|
US02052T1097 |
ALDW |
ALON USA PARTNERS LP |
|
US02364V1070 |
- |
AMERICA FIRST MULTIFAMILY IN |
|
US02364V2060 |
ATAX |
AMERICA FIRST MULTIFAMILY IN |
|
US02364Y1010 |
AFREZ |
AMERICA FIRST REAL ESTATE INVESTMENT PARTNERS |
|
US02520N1063 |
APO |
AMERICAN COMMUNITY PROPERTIE |
|
CA0266951064 |
HOT.UN |
AMERICAN HOTEL INCOME PROPER |
|
US0268621028 |
AIA |
AMERICAN INSD MTG INVS |
|
US02752P1003 |
- |
AMERICAN MIDSTREAM PARTNERS |
|
US0291692087 |
ACP PR |
AMERICAN REAL ESTATE PRTNRS: ACP PR |
|
US0291691097 |
ACP |
AMERICAN REAL ESTATE PTNR-LP |
|
US0293162055 |
- |
AMERICAN RESTAURANT PRTNR LP |
|
US0309751065 |
APU |
AMERIGAS PARTNERS-LP |
|
US02686F1030 |
AIJ |
AMERN INSD MTG INVS L P 86 |
|
US02686G1013 |
AIK |
AMERN INSD MTG INVS L P 88 |
|
US0293161065 |
XXMUT |
AMERN RESTAURANT PARTNERS |
|
US03350F1066 |
ANDX |
ANDEAVOR LOGISTICS LP |
|
US03673L1035 |
- |
ANTERO MIDSTREAM PARTNERS LP |
|
GB00B15Y0C52 |
AAAA |
AP ALTERNATIVE ASSETS LP |
|
US0376123065 |
- |
APOLLO GLOBAL MANAGEMENT - A |
|
US0376124055 |
APO PRA.O |
APOLLO MANAGEMENT LLC |
|
US0376125045 |
APO PRB.O |
APOLLO MANAGEMENT LLC |
|
US03879N1019 |
ARCX |
ARC LOGISTICS PARTNERS LP |
|
US30225N1054 |
EXLP |
ARCHROCK PARTNERS LP |
|
US03957U1007 |
APLP |
ARCHROCK PARTNERS LP |
|
US04014Y1010 |
- |
ARES MANAGEMENT LP |
|
US04014Y2000 |
ARES PRA. |
ARES MGMT LP PFD UNIT SER A |
|
US04929Q1022 |
- |
ATLAS ENERGY GROUP LLC |
|
US04939R1086 |
- |
ATLAS ENERGY LP |
|
US04930A1043 |
ATLS |
ATLAS ENERGY LP |
|
US0493031001 |
ATN |
ATLAS ENERGY RESOURCES LLC |
|
US0493921037 |
APL |
ATLAS PIPELINE PARTNERS LP |
|
US0493923017 |
APL PRECL |
ATLAS PIPELINE PARTNERS, L.P. CUMV |
|
US04941A4085 |
ARPPQ |
ATLAS RESOURCE PARTNERS |
|
US04941A1016 |
ARPJQ |
ATLAS RESOURCE PARTNERS LP |
|
US04941A5074 |
ARNPQ |
ATLAS RESOURCE PARTNERS |
|
US0548071028 |
AZLCZ |
AZTEC LAND & CATTLE LTD |
|
US05501X1000 |
AZURQ |
AZURE MIDSTREAM PARTNERS LP |
|
US0806941029 |
OZ |
BELPOINTE PREP LLC |
|
US09225M1018 |
BSM |
BLACK STONE MINERALS LP |
|
US0925ESC094 |
BHL.ESC |
BLACKROCK DEFINED OPPORTUNIT - ESCROW |
|
US09253U1088 |
- |
BLACKSTONE GROUP LP/THE |
|
US09625U2087 |
BKEPP |
BLUEKNIGHT ENERGY PARTNERS - SERIES A PREF UNIT |
|
US09625U1097 |
BKEP |
BLUEKNIGHT ENERGY PARTNERS L |
|
US0966271043 |
BWP |
BOARDWALK PIPELINE PARTNERS |
|
US0556EL1098 |
BPMP |
BP MIDSTREAM PARTNERS LP |
|
US26923H2004 |
BDRY |
BREAKWAVE DRY BULK SHIPPING |
|
US1067761072 |
BBEPQ |
BREITBURN ENERGY PARTNERS LP |
|
US1067761155 |
BBPPQ |
BREITBURN ENG PARTNERS LP CUM REDEE |
|
BMG162491077 |
BPY |
BROOKFIELD PROPERTY PARTNERS |
|
US1181671058 |
BGH |
BUCKEYE GP HOLDINGS LP |
|
US1182301010 |
BPL |
BUCKEYE PARTNERS LP |
|
US1272072075 |
CSD PRA |
CADBURY SCHWEPPES DEL L P |
|
US1314761032 |
CLMT |
CALUMET SPECIALTY PRODUCTS |
|
TC0001464281 |
ACE PRB |
CAPITAL RE LLC: 7.65% CUM "MIPS" |
|
US14309L1026 |
- |
CARLYLE GROUP INC/THE |
|
US1501851067 |
FUN |
CEDAR FAIR -LP |
|
US15188T1088 |
- |
CENTERLINE HOLDING CO |
|
US1534231089 |
ENGY |
CENTRAL ENERGY PARTNERS LP |
|
US14309L2016 |
TCGP |
CG 5 7/8 PERP PFD |
|
US1609081096 |
CHC |
CHARTERMAC |
|
US16411Q1013 |
CQP |
CHENIERE ENERGY PARTNERS LP |
|
US1651851099 |
CHKR |
CHESAPEAKE GRANITE WASH TRUS |
|
US16524K1088 |
- |
CHESAPEAKE MIDSTREAM PARTNER |
|
US12547R1059 |
CIFC |
CIFC LLC |
|
US18383H1014 |
- |
CLAYMORE MACROSHARES OIL DOW |
|
US18383R1095 |
- |
CLAYMORE MACROSHARES OIL UP |
|
US12592V1008 |
- |
CNX COAL RESOURCES LP |
|
US12654A1016 |
CNXM |
CNX MIDSTREAM PARTNERS LP |
|
US1982811077 |
CPPL |
COLUMBIA PIPELINE PARTNERS L |
|
US20467A1016 |
GSJK |
COMPRESSCO PARTNERS LP |
|
US20588V3078 |
CAG PRB |
CONAGRA CAP L C: CAG PRB |
|
US2068121092 |
- |
CONE MIDSTREAM PARTNERS LP |
|
US20855T1007 |
CCR |
CONSOL COAL RESOURCES LP |
|
US21038E1010 |
- |
CONSTELLATION ENERGY PARTNER |
|
GG00B1WR8K11 |
CCAP |
CONVERSUS CAPITAL |
|
US2128491030 |
CWPS |
CONWEST PARTNERSHIP LP-UNITS |
|
US2172021006 |
CPNO |
COPANO ENERGY LLC-UNITS |
|
US2189161043 |
CNPP |
CORNERSTONE PROPANE PARTNERS |
|
US2263443077 |
CEQP PR |
CRESTWOOD EQUITY PARTNER |
|
US2263441097 |
- |
CRESTWOOD EQUITY PARTNERS LP |
|
US2263442087 |
CEQP |
CRESTWOOD EQUITY PARTNERS LP |
|
US2263721001 |
- |
CRESTWOOD MIDSTREAM PARTNERS |
|
US2263781070 |
CMLP |
CRESTWOOD MIDSTREAM PARTNERS |
|
US22676R1150 |
KWH.UN |
CRIUS ENERGY TRUST |
|
US22758A1051 |
CAPL |
CROSSAMERICA PARTNERS LP |
|
US22765U1025 |
- |
CROSSTEX ENERGY LP |
|
US2284391057 |
CRPPE |
CROWN PAC PARTNERS L P |
|
US12637A1034 |
CCLP |
CSI COMPRESSCO LP |
|
US1266331065 |
- |
CVR PARTNERS LP |
|
US1266332055 |
UAN |
CVR PARTNERS LP |
|
US12663P1075 |
CVRR |
CVR REFINING LP |
|
US2327511075 |
- |
CYPRESS ENVIRONMENTAL PARTNE |
|
US23311P3082 |
DCP PRC |
DCP 7.95 PERP PFD - DCP MIDSTREAM LP |
|
US23311P1003 |
DCP |
DCP MIDSTREAM L.P. |
|
US23311P2092 |
DCP PRB |
DCP MIDSTREAM LP |
|
US24664T1034 |
DKL |
DELEK LOGISTICS PARTNERS LP |
|
US25490F2092 |
BARS |
DIREXION DAILY GOLD BEAR 3X |
|
US25490F1003 |
BAR |
DIREXION DAILY GOLD BULL 3X |
|
US2574541080 |
- |
DOMINION ENERGY MIDSTREAM PA |
|
US25820R1059 |
DMLP |
DORCHESTER MINERALS LP |
|
US2650261041 |
DEP |
DUNCAN ENERGY PARTNERS LP |
|
US2662242039 |
DQ PRA |
DUQUESNE CAP L P |
|
SGXC28500103 |
LIW |
EAGLE HOSPITALITY TRUST |
|
US26985R1041 |
EROC |
EAGLE ROCK ENERGY PARTNERS |
|
US26827L1098 |
ECTM |
ECA MARCELLUS TRUST I |
|
US2837021086 |
EPB |
EL PASO PIPELINE PARTNERS LP |
|
US29102H1086 |
EMESQ |
EMERGE ENERGY SERVICES LP |
|
US2921021000 |
ESBA |
EMPIRE STATE REALTY OP LP-ES |
|
US2921023089 |
FISK |
EMPIRE STATE REALTY OP -S250 |
|
US2921022099 |
OGCP |
EMPIRE STATE REALTY OP-S60 |
|
US2924801002 |
ENBL |
ENABLE MIDSTREAM PARTNERS LP |
|
US29250R1068 |
EEP |
ENBRIDGE ENERGY PARTNERS LP |
|
US29257A1060 |
ENP |
ENCORE ENERGY PARTNERS-LP |
|
US29273V1008 |
ET |
ENERGY TRANSFER LP |
|
US29273V6056 |
ET PRE |
ENERGY TRANSFER LP 7.6% PERP PFD U |
|
US29273V5066 |
ET PRD |
ENERGY TRANSFER LP 7.625% PERP PFD |
|
US29273V4077 |
ET PRC |
ENERGY TRANSFER LP |
|
US29278N1037 |
ETP |
ENERGY TRANSFER OPERATING LP |
|
US29278N5095 |
ETP PRE |
ENERGY TRANSFER OPERATNG |
|
US29278N3017 |
ETP PRC |
ENERGY TRANSFER PARTNERS |
|
US29273R1095 |
- |
ENERGY TRANSFER PARTNERS LP |
|
US29278N4007 |
ETP PRD |
ENERGY TRANSFER PARTNERS |
|
US29336U1079 |
ENLK |
ENLINK MIDSTREAM PARTNERS LP |
|
TC0001373946 |
ECTPQ |
ENRON CAP LLC |
|
US29357D2080 |
ECSPQ |
ENRON CAPITAL RESOURCES 9% CUM RED PFD |
|
US2937161063 |
EPE |
ENTERPRISE GP HOLDINGS LP |
|
US2937921078 |
EPD |
ENTERPRISE PRODUCTS PARTNERS |
|
US29414J1079 |
- |
ENVIVA PARTNERS LP |
|
US26885J1034 |
EQGP |
EQGP HOLDINGS LP |
|
US26885B1008 |
EQM |
EQM MIDSTREAM PARTNERS LP |
|
US092ESC0377 |
BGIO.ESC |
ESC BGIO LIQUIDATION TRUST |
|
US26926V1070 |
EVEPQ |
EV ENERGY PARTNERS LP |
|
US30053M1045 |
SNMP |
EVOLVE TRANSITION INFRASTRUC |
|
US30304T1060 |
FSG |
FACTORSHARES 2X: GOLD-S&P500 |
|
US30304P1049 |
FOL |
FACTORSHARES 2X: OIL-S&P500 |
|
US3030461061 |
FSE |
FACTORSHARES 2X: S&P500-TBD |
|
US3030481028 |
FSU |
FACTORSHARES 2X: S&P500-USD |
|
US3030471045 |
FSA |
FACTORSHARES 2X: TBD-S&P500 |
|
US3152933087 |
FGPRB |
FERRELLGAS PARTNERS LP-B |
|
US3152931008 |
FGPRQ |
FERRELLGAS PARTNERS-LP |
|
US3152932097 |
FGPR |
FERRELLGAS PARTNERS-LP |
|
US30242M1062 |
XXFPL |
FFP PARTNERS -LP-CL A |
|
US34552U1043 |
FELPQ |
FORESIGHT ENERGY LP |
|
US34958B1061 |
- |
FORTRESS INVESTMENT GRP-CL A |
|
US34960P2002 |
FTAIP |
FORTRESS TRANS & INFRAST |
|
US34960P3091 |
FTAIO |
FORTRESS TRANS & INFRAST |
|
US34960P4081 |
FTAIN |
FORTRESS TRANS & INFRAST |
|
US34960P1012 |
FTAI |
FORTRESS TRANSPORTATION-CL A |
|
US36761Q1058 |
GWYGU |
GATEWAY GARAGE PARTNERS LLC |
|
US3719271047 |
GEL |
GENESIS ENERGY L.P. |
|
US37959R1032 |
GBLI |
GLOBAL INDEMNITY GROUP LLC-A |
|
US37946R1095 |
GLP |
GLOBAL PARTNERS LP |
|
US37946R2085 |
GLP PRA |
GLOBAL PARTNERS LP |
|
US37946R3075 |
GLP PRB |
GLOBAL PARTNERS LP |
|
US38349K1051 |
GDVTZ |
GOULD INVESTORS LP |
|
US3860872098 |
GRM PRA |
GRAND MET DEL L P |
|
US3932211069 |
GPP |
GREEN PLAINS PARTNERS LP |
|
US39525T1007 |
- |
GREENHAVEN COAL FUND |
|
US3952581060 |
- |
GREENHAVEN CONTINUOUS CMDTY |
|
US40274U1088 |
GTM |
GULFTERRA ENERGY PARTNERS LP |
|
US4038291047 |
GYRO |
GYRODYNE LLC |
|
US40636T2033 |
HRY |
HALLWOOD RLTY PARTNERS L P |
|
BMG4285W1001 |
HRBGF |
HARBOR GLOBAL COMPANY LTD |
|
US41988L2025 |
NNUTU |
HAWAIIAN MACADAMIA NUT ORCHA |
|
US4223571039 |
HTLLQ |
HEARTLAND PARTNERS LP-A |
|
US4269181081 |
HPG |
HERITAGE PROPANE PRTNRS LP |
|
US4281041032 |
- |
HESS MIDSTREAM PARTNERS LP |
|
US4283371098 |
HCRSQ |
HI-CRUSH INC |
|
US43129M1071 |
HPGP |
HILAND HOLDINGS GP LP |
|
US4312911039 |
HLND |
HILAND PARTNERS LP |
|
US4357631070 |
HEP |
HOLLY ENERGY PARTNERS LP |
|
US4511001012 |
IEP |
ICAHN ENTERPRISES LP |
|
US4511002002 |
IEP PRCL |
ICAHN ENTERPRISES LP |
|
US4511001194 |
IEPRR |
ICAHN ENTERPRISES LP-RIGHT |
|
US45661Q1076 |
NRGP |
INERGY HOLDINGS LP |
|
US4566151035 |
- |
INERGY LP |
|
US45671U1060 |
- |
INERGY MIDSTREAM LP |
|
US4608852053 |
IGLPA |
INTERSTATE GEN L P |
|
US4642941078 |
ALT |
ISHARE DIVERSIFIED ALT TRUST |
|
US45032K1025 |
CMDT |
ISHARES COMMODITY OPTIMIZED |
|
US46643C1099 |
JPEP |
JP ENERGY PARTNERS LP |
|
US4841691078 |
KPP |
KANEB PIPE LINE PARTNERS L P |
|
US4841731098 |
KSL |
KANEB SERVICES LLC |
|
US4945501066 |
KMP |
KINDER MORGAN ENERGY PRTNRS |
|
GB00B13BNQ35 |
KKR |
KKR & CO (GUERNSEY) LP |
|
US48248M2017 |
KKR PRA.O |
KKR & CO LP |
|
US48248M3007 |
KKR PRB.O |
KKR 6 1/2 12/31/49 PFD |
|
US48248A3068 |
KFN |
KKR FINANCIAL HOLDINGS LLC |
|
US48248A6038 |
KFN PRCL |
KKR FINANCIAL HOLDINGS |
|
US48268Y1010 |
KSP |
K-SEA TRANSPORTATION PARTNER |
|
US5053461068 |
LAACZ |
LAACO LTD-UNITS OF LTD PRTNS |
|
US51508J2078 |
LMRKP |
LANDMARK INFRASTRUCTURE |
|
US51508J1088 |
LMRK |
LANDMARK INFRASTRUCTURE PART |
|
US51508J4058 |
LMRKN |
LANDMARK INFRASTRUCTURE PARTNERS LP |
|
US51508J3068 |
LMRKO |
LANDMARK INFRASTRUCTURE |
|
US5248141005 |
- |
LEHIGH GAS PARTNERS LP |
|
US5327711025 |
- |
LIN MEDIA LLC - A |
|
US5357631069 |
LNKE |
LINK ENERGY LLC |
|
US5360201009 |
LINEQ |
LINN ENERGY LLC-UNITS |
|
US50214A1043 |
LRE |
LRR ENERGY LP |
|
US55608B1052 |
MIC.USD |
MACQUARIE INFRASTRUCTURE HOL |
|
US55610T1025 |
- |
MACROSHARES $100 OIL DOWN |
|
US55610W1053 |
- |
MACROSHARES $100 OIL UP |
|
US55610X1037 |
DMM |
MACROSHARES MAJ MET HOU DOWN |
|
US55610R1068 |
UMM |
MACROSHARES MAJ MET HOU UP |
|
US55610N1054 |
DCR |
MACROSHARES OIL DOWN TRADEABLE |
|
US55610L1098 |
UCR |
MACROSHARES OIL UP TRADEABLE T |
|
US55610T2015 |
DOY |
MACROSHARES USD 100 OIL DOWN |
|
US55610W2044 |
UOY |
MACROSHARES USD 100 OIL UP |
|
US55907R1086 |
MGG |
MAGELLAN MIDSTREAM HOLDINGS |
|
US5590801065 |
MMP |
MAGELLAN MIDSTREAM PARTNERS |
|
US5707591005 |
MWE |
MARKWEST ENERGY PARTNERS LP |
|
US57118V1008 |
- |
MARLIN MIDSTREAM PARTNERS LP |
|
US5733311055 |
MMLP |
MARTIN MIDSTREAM PARTNERS LP |
|
US5860481002 |
MEMPQ |
MEMORIAL PRODUCTION PARTNERS |
|
US55271M2061 |
MUK PRA |
MEPC INTL CAP L P |
|
US59140L1008 |
IDIV |
METAURUS US EQUITY CUMULATIV |
|
US59140L2097 |
- |
METAURUS US EQUITY EX DIVIDE |
|
US59564N1037 |
MEP |
MIDCOAST ENERGY PARTNERS LP |
|
US59560V1098 |
- |
MID-CON ENERGY PARTNERS LP |
|
US59560V2088 |
MCEP |
MID-CON ENERGY PARTNERS LP |
|
US6050342061 |
ME PRA |
MISSION CAP L P |
|
US6050343051 |
ME PRB |
MISSION CAP L P: ME PRB |
|
US55307U1079 |
- |
ML MACADAMIA ORCHARDS LP-UT |
|
US55336V1008 |
MPLX |
MPLX LP |
|
US62624B1017 |
- |
MUNICIPAL MORTGAGE & EQUITY |
|
US55406N1037 |
MYTH |
MYT HLDG LLC BE+ |
|
US63900P1030 |
- |
NATURAL RESOURCE PARTNERS LP |
|
US63900P4000 |
NSP |
NATURAL RESOURCE PARTNERS LP -PARTNERSHIP UNITS |
|
US63900P6088 |
NRP |
NATURAL RESOURCE PARTNERS LP |
|
US63900P5098 |
NSP |
NATURAL RESOURCE PARTNERS LP |
|
US6442061049 |
NEN |
NEW ENGLAND REALTY ASSOC-LP |
|
US64881E1091 |
NSLPQ |
NEW SOURCE ENERGY PARTNERS L |
|
US64881E3071 |
NUSPQ |
NEW SOURCE ENG PARTNERS LP 11%SR A |
|
US64ESC19977 |
NYRT.ESC |
NEW YORK REIT INC - ESCROW |
|
US6514261089 |
NHL |
NEWHALL LAND & FARMING CO |
|
US62913M2061 |
NGL PRB |
NGL 9 PERP PFD |
|
US62913M1071 |
NGL |
NGL ENERGY PARTNERS LP |
|
US62913M3051 |
NGL PRC |
NGL ENERGY PARTNERS LP |
|
US6546781013 |
NKA |
NISKA GAS STORAGE PARTNERS-U |
|
US65506L1052 |
NBLX |
NOBLE MIDSTREAM PARTNERS LP |
|
US6658261036 |
NTI |
NORTHERN TIER ENERGY LP |
|
US67058H3003 |
NS PRB |
NSUS 7 5/8 PERP PFD |
|
US67058H2013 |
NS PRA |
NSUS 8 1/2 12/31/49 |
|
US6294221063 |
NLP |
NTS REALTY HOLDINGS LP |
|
US67058H1023 |
NS |
NUSTAR ENERGY LP |
|
US67058H4092 |
NS PRC |
NUSTAR ENERGY LP |
|
US67059L1026 |
- |
NUSTAR GP HOLDINGS LLC |
|
US67074P1049 |
CFD |
NUVEEN DIVERSIFIED COMMODITY |
|
US6707311089 |
CTF |
NUVEEN LONG/SHORT COMMODITY |
|
US6740011027 |
OKCMZ |
OAKTREE CAP GROUP-UTS CL A |
|
US6740012017 |
OAK |
OAKTREE CAPITAL GROUP LLC |
|
US6740013007 |
OAK PRA |
OAKTREE CAPITAL GRP LLC |
|
US6740014096 |
OAK PRB |
OAKTREE CAPITAL GRP LLC |
|
US67420T2069 |
OMP |
OASIS MIDSTREAM PARTNERS LP |
|
US67551U1051 |
- |
OCH-ZIFF CAPITAL MANAGEMEN-A |
|
US67091N1081 |
OCIP |
OCI PARTNERS LP |
|
US67081B1061 |
- |
OCI RESOURCES LP |
|
US6780491071 |
OILT |
OILTANKING PARTNERS LP |
|
US68268N1037 |
OKS |
ONEOK PARTNERS LP |
|
US6710281089 |
OSP |
OSG AMERICA LP |
|
US6918071019 |
OXF |
OXFORD RESOURCE PARTNERS LP |
|
US6931391071 |
PNG |
PAA NATURAL GAS STORAGE LP |
|
US69422R1059 |
PPX |
PACIFIC ENERGY PARTNERS LP |
|
US69318Q1040 |
PBFX |
PBF LOGISTICS LP |
|
CA7069025095 |
- |
PENGROWTH ENERGY TRUST-A |
|
US70788P1057 |
- |
PENN VIRGINIA GP HOLDINGS LP |
|
US7078841027 |
- |
PENN VIRGINIA RESOURCE PARTN |
|
US7093111042 |
PTXP |
PENNTEX MIDSTREAM PARTNERS L |
|
US71672U1016 |
PDH |
PETROLOGISTICS LP |
|
US55406N2027 |
PFDM |
PFD MYT HLDG CO BE+ |
|
US7185492078 |
PSXP |
PHILLIPS 66 PARTNERS LP |
|
US7192171012 |
PLP |
PHOSPHATE RESOURCE PRTNRS L.P. |
|
US72388B1061 |
PSE |
PIONEER SOUTHWEST ENERGY PAR |
|
US7265031051 |
PAA |
PLAINS ALL AMER PIPELINE LP |
|
US69341H1059 |
GFWQZ |
PLM EQUIPMENT GROWTH FD III |
|
US7328571077 |
POPE |
POPE RESOURCES |
|
US73936B4086 |
- |
POWERSHARES DB AGRICULTURE F |
|
US73936B7055 |
- |
POWERSHARES DB BASE METALS F |
|
US73935S1050 |
- |
POWERSHARES DB COMMODITY IND |
|
US73936B1017 |
- |
POWERSHARES DB ENERGY FUND |
|
US73935Y1029 |
- |
POWERSHARES DB G10 CURR HARV |
|
US73936B6065 |
- |
POWERSHARES DB GOLD FUND |
|
US73936B5075 |
- |
POWERSHARES DB OIL FUND |
|
US73936B2007 |
- |
POWERSHARES DB PREC METALS F |
|
US73936B3096 |
- |
POWERSHARES DB SILVER FUND |
|
US73936D2062 |
- |
POWERSHARES DB US DOL IND BE |
|
US73936D1072 |
- |
POWERSHARES DB US DOL IND BU |
|
SGXC75818630 |
OXMU |
PRIME US REIT |
|
US74347W5360 |
FUTS |
PROSHARES MANAGED FUTURES ST |
|
US74347W7424 |
- |
PROSHARES SHORT EURO ETF |
|
US74347W6277 |
- |
PROSHARES SHORT VIX ST FUTUR |
|
US74347W4942 |
GDAY |
PROSHARES ULT AUSTRALIAN DOL |
|
US74347W7754 |
- |
PROSHARES ULT DJ-UBS NAT GAS |
|
US74347W1062 |
- |
PROSHARES ULTRA BLOOMBERG CO |
|
US74347W2888 |
UCD |
PROSHARES ULTRA BLOOMBERG CO |
|
US74347W6509 |
- |
PROSHARES ULTRA BLOOMBERG CR |
|
US74347W2474 |
- |
PROSHARES ULTRA BLOOMBERG CR |
|
US74347W3209 |
- |
PROSHARES ULTRA BLOOMBERG CR |
|
US74347W1229 |
- |
PROSHARES ULTRA BLOOMBERG NA |
|
US74347Y7067 |
- |
PROSHARES ULTRA BLOOMBERG NA |
|
US74347W2961 |
- |
PROSHARES ULTRA BLOOMBERG NA |
|
US74347W5022 |
- |
PROSHARES ULTRA DJ-UBS CRUDE OIL |
|
US74347W8414 |
- |
PROSHARES ULTRA SILVER |
|
US74347W6350 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W4116 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W3464 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W2540 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W1633 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W5444 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W3795 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W3126 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W2391 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W1484 |
- |
PROSHARES ULTRA VIX ST FUTUR |
|
US74347W8661 |
- |
PROSHARES ULTRA YEN |
|
US74347W2219 |
- |
PROSHARES ULTRAPRO 3X CRUDE |
|
US74347W2136 |
- |
PROSHARES ULTRAPRO 3X SHORT |
|
US74347Y8057 |
- |
PROSHARES ULTRAPRO 3X SHORT |
|
US74347W4603 |
CROC |
PROSHARES ULTRASHORT AUD |
|
US74347Y8214 |
- |
PROSHARES ULTRASHORT BLOOMBE |
|
US74347W6681 |
- |
PROSHARES ULTRASHORT BLOOMBE |
|
US74347W3878 |
- |
PROSHARES ULTRASHORT BLOOMBE |
|
US74347Y8628 |
- |
PROSHARES ULTRASHORT BLOOMBE |
|
US74347W6764 |
CMD |
PROSHARES ULTRASHORT BLOOMBE |
|
US74347W7002 |
- |
PROSHARES ULTRASHORT GOLD |
|
US74347W7184 |
- |
PROSHARES ULTRASHORT GOLD |
|
US74347W8331 |
- |
PROSHARES ULTRASHORT SILVER |
|
US74347W6434 |
- |
PROSHARES ULTRASHORT SILVER |
|
US74347W7267 |
- |
PROSHARES ULTRASHORT SILVER |
|
US74347W1146 |
- |
PROSHARES ULTRASHORT SILVER |
|
US74347W8588 |
- |
PROSHARES ULTRASHORT YEN |
|
US74347W7671 |
- |
PROSHARES ULTSHRT DJ-UBS NAT |
|
US74347W6848 |
- |
PROSHARES VIX MID-TERM FUT |
|
US74347W3613 |
- |
PROSHARES VIX SHORT-TERM FUT |
|
US74347W6921 |
- |
PROSHARES VIX SHORT-TERM FUT |
|
US74347W2623 |
- |
PROSHARES VIX SHORT-TERM FUT |
|
US74347W1716 |
- |
PROSHARES VIX SHORT-TERM FUT |
|
US74347W2052 |
- |
PROSHRE U/S DJ-AIG COMMODITY |
|
US74347W8091 |
- |
PROSHRE U/S DJ-AIG CRUDE OIL |
|
CA74624AUSD4 |
RUF.U |
PURE MULTI-FAMILY REIT LP |
|
CA74624A1084 |
RUF.UN |
PURE MULTI-FAMILY REIT LP |
|
US6936651016 |
PVR |
PVR PARTNERS LP |
|
US74735R1150 |
QEPM |
QEP MIDSTREAM PARTNERS LP |
|
US74734R1086 |
QRE |
QR ENERGY LP |
|
US74836B2097 |
- |
QUEST ENERGY PARTNERS LP |
|
US74839G1067 |
- |
QUICKSILVER GAS SERVICES LP |
|
US75885Y1073 |
RGP |
REGENCY ENERGY PARTNERS LP |
|
US7601131003 |
RNF |
RENTECH NITROGEN PARTNERS LP |
|
US76090H1032 |
QSP.U |
RESTAURANT BRANDS EXCHANGE UNITS |
|
CA76090H1038 |
QSP.UN |
RESTAURANT BRANDS-EXCH UNITS |
|
US76218Y1038 |
- |
RHINO RESOURCE PARTNERS LP |
|
US76218Y2028 |
- |
RHINO RESOURCE PARTNERS LP |
|
US7628191006 |
RMP |
RICE MIDSTREAM PARTNERS LP |
|
US7672711097 |
- |
RIO VISTA ENERGY PARTNERS LP |
|
US7771491054 |
RRMS |
ROSE ROCK MIDSTREAM LP |
|
US78028T1007 |
- |
ROYAL HAWAIIAN ORCHARDS LP |
|
GG00BKTRRM22 |
RTW |
RTW VENTURE FUND LTD |
|
US79971C2017 |
- |
SANCHEZ MIDSTREAM PARTNERS L |
|
US79971A1060 |
- |
SANCHEZ PRODUCTION PARTNERS |
|
US79971C1027 |
- |
SANCHEZ PRODUCTION PARTNERS |
|
US80007T1016 |
SDTTU |
SANDRIDGE MISSISSIPPIAN TRUS |
|
US80007V1061 |
SDRMU |
SANDRIDGE MISSISSIPPIAN TRUS |
|
US80007A1025 |
- |
SANDRIDGE PERMIAN TRUST |
|
MHY737602026 |
SRG U |
SEANERGY MARITIME CORP-UNITS |
|
MHY737601036 |
- |
SEANERGY MARTIME HOLDINGS CORP |
|
US81662W1080 |
- |
SEMGROUP ENERGY PARTNERS LP |
|
US8226341019 |
SHLX |
SHELL MIDSTREAM PARTNERS LP |
|
US1724641097 |
SIRE |
SISECAM RESOURCES LP |
|
US26923H1014 |
RISE |
SIT RISING RATE ETF |
|
US84130C1009 |
SXEEQ |
SOUTHCROSS ENERGY PARTNERS L |
|
US84756N1090 |
SEP |
SPECTRA ENERGY PARTNERS LP |
|
US8493431089 |
SRLP |
SPRAGUE RESOURCES LP |
|
US85512C2044 |
SGH |
STAR GAS PTNRS,LP SR SB UTS |
|
US85814R3057 |
SPLP PRT |
STEEL PARTNERS HLDS LP |
|
US85814R1077 |
SPLP |
STEEL PARTNERS HOLDINGS LP |
|
US86183Q1004 |
- |
STONEMOR PARTNERS LP |
|
US86324B1035 |
BNPC |
STREAM S&P DYN GLOBAL COMM |
|
US8644821048 |
SPH |
SUBURBAN PROPANE PARTNERS LP |
|
US8661421029 |
- |
SUMMIT MIDSTREAM PARTNERS LP |
|
US8661424098 |
SMLP |
SUMMIT MIDSTREAM PARTNERS LP |
|
US86722Y1010 |
SXCP |
SUNCOKE ENERGY PARTNERS LP |
|
US86764L1089 |
- |
SUNOCO LOGISTICS PARTNERS L.P |
|
US86765K1097 |
SUN |
SUNOCO LP |
|
US8692391035 |
- |
SUSSER PETROLEUM PARTNERS LP |
|
US8746971055 |
TEP |
TALLGRASS ENERGY PARTNERS LP |
|
US87611X2045 |
NGLS PRA |
TARGA RESOURCES PARTNERS |
|
US87611X1054 |
NGLS |
TARGA RESOURCES PARTNERS LP |
|
US87233Q1085 |
TCP |
TC PIPELINES LP |
|
US8723841024 |
TPP |
TEPPCO PARTNERS LP |
|
US8810052014 |
TNH |
TERRA NITROGEN COMPANY LP |
|
US88160T1079 |
- |
TESORO LOGISTICS LP |
|
US88166A3005 |
CRUD |
TEUCRIUM CRUDE OIL FUND |
|
US88166A2015 |
NAGS |
TEUCRIUM NATURAL GAS FUND |
|
US89376V1008 |
TLP |
TRANSMONTAIGNE PARTNERS LP |
|
SGXC39411175 |
ODBU |
UNITED HAMPSHIRE US REIT |
|
US91733T3077 |
USOU |
UNITED STATES 3X OIL FUND |
|
US91733T4067 |
- |
UNITED STATES 3X SHORT OIL F |
|
US91733T5056 |
USOD |
UNITED STATES 3X SHORT OIL F |
|
US9117182033 |
USAG |
UNITED STATES AGRICULTURE IN |
|
US9117831084 |
UHN |
UNITED STATES DIESEL-HEATING |
|
US91204P1075 |
- |
UNITED STATES HEATING OIL LP |
|
US9117183023 |
USMI |
UNITED STATES METALS INDEX F |
|
US91232N1081 |
- |
UNITED STATES OIL FUND LP |
|
US9126132052 |
DNO |
UNITED STATES SHORT OIL FUND |
|
US9134301046 |
UCLP |
UNIVERSAL COMPRESSION PARTNE |
|
US9123181029 |
- |
US NATURAL GAS FUND LP |
|
US9123182019 |
- |
US NATURAL GAS FUND LP |
|
US9123181102 |
- |
US NATURAL GAS FUND LP |
|
US9034171036 |
USSPQ |
US SHIPPING PARTNERS LP |
|
US90290N1090 |
USAC |
USA COMPRESSION PARTNERS LP |
|
US9033181036 |
USDP |
USD PARTNERS LP |
|
US91914J1025 |
VLP |
VALERO ENERGY PARTNERS LP |
|
US91914G1085 |
VEH |
VALERO GP HOLDINGS LLC |
|
US91913W1045 |
VLI |
VALERO LP |
|
US92205F2056 |
VNRAQ |
VANGUARD NATURAL RESOU |
|
US92205F4037 |
VNRCQ |
VANGUARD NATURAL RESOU |
|
US92205F1066 |
VNRSQ |
VANGUARD NATURAL RESOURCES |
|
US92205F3047 |
VNGBQ |
VANGUARD NATURAL RESOURCES LLC RED |
|
KYG9325C1050 |
VTDRF |
VANTAGE DRILLING INTERNATION |
|
US93964X1063 |
WPG |
WASHINGTON PG INC UNRESTRICTED SHARES |
|
US95825R1032 |
- |
WESTERN GAS EQUITY PARTNERS |
|
US9582541044 |
- |
WESTERN GAS PARTNERS LP |
|
US9586691035 |
WES |
WESTERN MIDSTREAM PARTNERS L |
|
US95931Q2057 |
WNRL |
WESTERN REFINING LOGISTICS L |
|
US9604171036 |
WLKP |
WESTLAKE CHEMICAL PARTNERS L |
|
US96108P1030 |
WMLPQ |
WESTMORELAND RESOURCE PARTNE |
|
US96949L1052 |
WPZ |
WILLIAMS PARTNERS LP |
|
US96950F1049 |
WPZ.USD |
WILLIAMS PARTNERS LP |
|
US96950K1034 |
WMZ |
WILLIAMS PIPELINE PARTNERS L |
|
US976ESC3018 |
FUR.ESC |
WINTHROP REALTY TRUST - ESCROW |
|
US97718T1051 |
TONS |
WISDOMTREE COAL FUND |
|
US97718W1080 |
GCC.USD |
WISDOMTREE CONTINUOUS COMMOD |
|
US98159G1076 |
WPT |
WORLD POINT TERMINALS LP |
|
US92930Y1073 |
- |
WP CAREY & CO LLC |
Information on Irish Interest Withholding
概観:
The Irish Tax Authority requires IBKR to collect withholding tax on interest earned in Ireland. This withholding is at a rate of 20% and must be deducted from interest payments to your account.
Please note withholding tax applies to all clients who are resident in Ireland, whether individuals (including partnerships) or companies.
Withholding tax does not apply to clients who are companies in countries that are members of the European Union (excluding Ireland) or companies in countries that have a Double Tax Agreement (DTA) with Ireland.
For other clients in the EU (excluding Ireland) or if you are a non-resident of Ireland but tax resident in a country with a Double Tax Agreement (DTA) with Ireland, you may complete Form 8-3-6, that will reduce or eliminate your withholding tax. In addition to providing your information, you will need to have the form completed by the tax authority in the country where you are a tax resident.
You will require the following information in order to complete Form 8-3-6.
1. Client name (please ensure this matches the name on your IBKR account).
2. Client address.
3. Tax reference number in country of residence.
4. The country in which the client is resident for tax.
5. The rate of withholding tax between the country of tax residence and Ireland (see below).
6. Signature.
7. Date.
On completion of the form, you should submit it to the local tax authority in the country of your residence. The local tax authority must sign and stamp the form. As per below, Form 8-3-6 has been translated into French, German, Spanish, Italian and Dutch.
Once you receive the completed form from your local tax authority, please email a PDF or JPEG copy of the fully signed form to tax-withholding@interactivebrokers.com.
Please note, the withholding tax rate depends on the DTA between Ireland and your country of tax residence which can be found on the Irish Revenue website https://www.revenue.ie/en/tax-professionals/tax-agreements/rates/index.aspx
For your convenience, we have prepared the forms to include items 3 to 5 above for all countries in the European Economic Area (“EEA”). Clients will need to complete the other items in 1 to 7 above.
For clients outside the EEA please use this form when the withholding tax rate is 0% and this form in all other cases.
1. EEA countries with 0% Withholding Tax.
2. EEA countries with rates above 0% Withholding Tax.
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3. Other countries with a DTA with Ireland (* denotes where there is 0% withholding tax in all situations).
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Georgia |
Moldova |
Singapore |
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Armenia |
Ghana |
Montenegro |
South Africa* |
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Australia |
Hong Kong |
Morocco |
South Korea* |
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Bahrain* |
India |
New Zealand |
Switzerland* |
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Belarus |
Israel |
North Macedonia* |
Thailand |
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Bosnia & Herzegovina* |
Japan |
Norway |
Turkey |
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Botswana |
Kazakhstan |
Pakistan |
Ukraine |
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Canada |
Kenya |
Panama |
United Arab Emirates* |
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Chile |
Kosovo |
Qatar* |
United Kingdom* |
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China |
Kuwait* |
Russian Federation* |
United States of America* |
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Egypt |
Malaysia |
Saudi Arabia* |
Uzbekistan |
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Ethiopia |
Mexico |
Serbia |
Vietnam |
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Zambia* |
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納税者ステータスの実証 - 米国に住所を持つ非米国人
米国内国歳入庁は通常、米国と特定の関連性を持つ個人を米国納税者とみなし、この場合にはIRS Form W-9のご記入と、弊社への米国の社会保障番号のご提出が必要になります。
米国との関連性とみなされる一般的な基準には、米国における居住地住所および郵便物送付先住所があることが挙げられます。 これらの住所を持つ個人は米国納税者とみなされ、米国との関連性として認められている条件のいずれかに当てはまらない限り、Form W-9の提出が求められます。 条件には下記が含まれます:
(A) 米国財務省の既定301.7701(b)-1(c) に記載される米国の納税上居住者としての「実質滞在テスト」（substantial presence test）を満たしておらず、 米国における住所が
o 第二の居住地（休暇のための家など）である。
o 自身（または複数）の所有するビジネスのためのものである。
o より信頼でき、かつ確実な郵便物配送のために[条約国を記入] にある私/私達の住所に郵便物の転送をしてくれる受取人の住所である。
o その他（詳細が必要です）
「実質滞在テスト」 を利用する個人は、今年と前年の各期間に米国に滞在した日数を、今年の残りの期間に米国に滞在する予定の日数も含めて記入する必要があります。
(B) 米国財務省の既定§ 301.7701(b)-2に記載される密接な関連性の例外に該当し、 米国における住所が
o 第二の居住地（休暇のための家など）である。
o 自身（または複数）の所有するビジネスのためのものである。
o より信頼でき、かつ確実な郵便物配送のために[条約国を記入] にある私/私達の住所に郵便物の転送をしてくれる受取人の住所である。
o その他（詳細が必要です）
このサブ項目 (B)が適用となるとする個人は、自分が密接な関連性を持つ国を指定し、またその関連性がどのように確立されたかを明確にする必要があります。より密接な関連性テストおよびこれの適用に関する詳細は、IRS Tax Form 8840をご参照いただくか、専門の税理士にご確認ください。
(C) 米国の機関における学生、教師、または研修生として米国に居住する場合。米国の移民・関税執行局の発行するビザ、F、J、MまたはQのコピーの提出が必要になります。
(D) 外交官として米国に居住する場合。米国の移民・関税執行局の発行するビザ、AまたはG（A-3またはG-3以外）のコピーの提出が必要になります。
(E) 米国に滞在しており、上記(C)または(D)に記載される人物の配偶者、または21歳未満の未婚の子供である場合。ビザのコピーの提出が必要になります。
注意事項: 上記の例は、米国との関連性として認められる唯一の状況ではありません。どの例にも当てはまらないものの非納税者であると思われる場合には、非米国ステータスを裏付ける説明の提出が必要になります。
How to solve: "Another user is running Tax Optimizer"
Background:
How do I launch the Tax Optimizer?
To launch Tax Optimizer, login to Client Portal and select Reports followed by Tax Documents. Once you have selected a Day, click on Launch Tax Optimizer. For additional details, please consult the Client Portal Users' Guide
Requirements:
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Tax Optimizer requires the presence of a Java Runtime Environment (JRE) installed on your machine. Should you not have a JRE installed, please go to the web page java.com and install the latest one by clicking the button "Free Java Download". Please follow the instructions on the Java download page to complete the installation.
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Your operating system should be configured to open the .jnlp files within the Java Runtime Environment. This configuration should be automatically set during the JRE installation. If, for some reason, the file association is broken, we recommend to reinstall the JRE to instate it again.
How to overcome the error message "Another user is running Tax Optimizer"?
1. Log in to the IBKR Client Portal
2. Click the "Profile icon" in the upper right corner of the IBKR Client Portal and click on Log Out
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3. Continue selecting one of the two options according to your operating system:
a. Press CTRL + ESC on your keyboard
b. Start directly typing the word "Java" and then click on Configure Java from the search results
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c. In the Java Control Panel, click on Settings...
d. Click on the Delete Files...
e. This will open Delete Files and Applications window. Check all options listed, then click on OK
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f. Once you have cleared your Java cache, log back into the Client Portal and try launching Tax Optimizer again. You should now be able to open the application. If you are still not able to launch the Tax Optimizer and you receive the same error as before (Another user is running Tax Optimizer), please perform the additional steps below:
g. Press the key combination Win(Windows Key) + E and navigate to the directory: C:\Users\<your windows user>\ibto
h. Select all files in the ibto folder, right-click on the selection and choose Send to > Compressed (zipped) folder. The zipped file will be created in the same ibto directory
i. Compose a New Ticket in the Message Center, informing us of this issue. Please attach the Zip file you created at the previous step (h.) to your ticket
a. Click on Apple icon on the top left and select System Preferences
b. Click on the Java icon located at the bottom to open the Java Control Panel
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c. In Java Control Panel, navigate to Web Settings > Temporary Files Settings, then click on Delete Files
d. This will open the Delete Files and Applications window. Check all options listed, then click on OK
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e. Once you have cleared your Java cache, log back into the Client Portal and try launching Tax Optimizer again. You should now be able to open the application. If you are still not able to launch the Tax Optimizer and you receive the same error as before (Another user is running Tax Optimizer), please perform the additional steps below:
f. Press the key combination CMD + SHIFT + H, then go to folder ibto
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g. Select all files in the ibto folder, right-click and select Compress 6 Items. The zipped folder will be created in the same directory
h. Compose a New Ticket in the Message Center, informing us of this issue. Please attach the Zip file you created at the previous step (g.) to your ticket
References:
税金: 非米国人および非米国企業: Form 1042-S
Form 1042-Sは、課税年度中に非米国人であるお客様の口座に支払われた、米国源泉の金利、配当金、これの代わりとなる所得および諸費用を含め、米国源泉税対象となる所得に関する報告です。 異なる種類の所得報告のために、複数の1042-Sフォームをお受取りいただく可能性があります。
この情報はIRSにも報告されます。所得はそれぞれボックス1のコードを記入の上、個別のフォームで報告されます。共通コードは以下のようになります:
Circular 230に関する通知: これらのステートメントは情報提供目的のみであり、税務助言や連邦税、州税、その他の地域の税制罰則や規制罰則体側のために提供されたものではありません。
Connecticut Sales and Use Tax
The state of Connecticut imposes a sales and use tax which is applicable to online access to information including all data and access fees.
The tax rate as of 2017 is 1% and is applicable to clients with the state of legal residency of Connecticut or a Connecticut permanent/resident address.
The sales and use tax will be applied to all research and market data subscriptions as well as special connections such as VPN, IB Gateway, Extranet and Dedicated Leased Lines.
The sales and use tax will be passed through to client accounts at the time of the subscription billing. The tax is only applicable if a monthly fee is charged, therefore should an account receive a waiver the sales and use tax will similarly be waived.
Chicago Personal Property Tax
Chicago has a personal property tax which applies to a non-possessory computer lease by a Chicago resident. The Chicago tax authorities have ruled that tax is to be applied in cases where a customer pays for electronic research/use of an interactive site. The passive receipt or streaming of information is not subject to the tax.
Clients whose permanent residential address or principal business address is Chicago will have this tax passed through to their accounts.
The tax rate, as of October 2017, is 9%. The tax will be charged on the research and news feeds a client is subscribed to. Should a research and news feed be eligible to a waiver based upon commissions generated, the tax will not be applied.
As of October 2017, research and news subscriptions which would be subject to the tax would include
Base IBIS Research Platform and the IBIS Research Essentials Subscription Bundle
Cusip
Dow Jones News Service
Dow Jones Real Time News
US Press Release Feed
Reuters Global Newswire
Reuters StreetEvents Calendars
Reuters Fundamentals
Reuters Basic Newfeed
Morningstar Equity, ETF and Credit Reports
Wall Street Horizons
Zacks Equity Research Reports
The above list is provided on a best efforts basis and is subject to change. Clients will be responsible for any pass through tax regardless of any discrepancy from the list provided above.
配当同等支払に対する源泉徴収税 - FAQ
背景
2017年1月1日より、米国株のデリバティブポジションを保有する非米国人に支払われる米国配当同等支払に対し、IRSの新しい規制による米国源泉徴収税の義務化が開始されます。これまでこういった支払に対する源泉徴収税の義務はありませんでした。この規制により弊社の様な仲介業者にも源泉徴収義務が発生し、IRSに代わって米国税の徴収が求められるようになりました。 納税義務の判断、またこれにより影響を受ける商品に関する概要は以下をお読みください。
概要
この規制の目的は何ですか？
この規制は米国の内国歳入法セクション871(m)に由来し、米国株の配当およびこういった株の所有を意味する（多くの場合）配当同等支払に関連して非米国人に義務とされる米国課税措置の調整を目的としています。
例としてはIBMを原資産とするトータル・リターン・スワップが挙げられます。 IBM株のポジションを保有する非米国人への配当同等支払に対して適用される米国源泉徴収税は30%（租税条約により減税）になりますが、セクション871(m)が導入される以前にスワップでIBMポジションを保有していた非米国人には、配当同等支払に対する源泉徴収税の適用はありませんでした。 支払に対するエクスポージャーが配当に対するものと同様であっても状況に変わりはありませんでしたが、 セクション871(m)の導入により、「配当同等支払」も米国源泉徴収税の対象とみなされるようになりました。
配当同等支払とは何ですか？
配当等同支払とは、米国株に対する配当支払を参照するすべての総額を指し、これより株を保有する人物に支払われる、またはこの人物より支払われる正味金額が計算されます。株を保有する人物が保有しない人物に支払を行う、または支払がゼロの場合でも同様に扱われます。 このためこういった支払には配当の代わりとなる実際の支払だけでなく、1つ以上の取引条件を算出する際に暗黙的に考慮される金利、想定元本または購入金額を含める予想の配当支払も含まれます。
米国株のコール・オプションを例に取ると、配当権利落ち日前にオプションが権利行使されない場合、コール保有者は配当を受取る対象になりません。こういった状況に関わらず、オプション購入のために保有者が支払うプレミアムには、オプション期間を通して予想される配当の現時点での価値が暗黙的に考慮されます。[1]これはオプション買い手から売り手への支払を減少させる要因となるため、規則の対象となりえる配当同等支払とみなされます。
どういった人が配当同等支払に対する源泉徴収税の対象になりますか？
この税は非米国人の口座に保有されるポジションで適格とみなされるものに適用されます。米国納税者はこの対象にはなりません。 非米国人の口座は通常、米国歳入庁W-8フォームの提出によって証明され、個人、ジョイント、組織およびトラストタイプの口座を含めることができます。
どういったデリバティブ銘柄が配当同等支払に対する源泉徴収税の対象となる可能性がありますか？
デリバティブ銘柄がこの規則の対象となるかどうかを判定するには、2部からなるテストが導入されます。 デリバティブ銘柄は先ず米国株式における配当を参照する必要があります。例には下記が含まれます:
- 株式オプション
- 規制下にある個別株先物
- 指数先物で規制下にある指数先物および指数オプション
- 仕組みおよび上場投資証券
- CFDコントラクト
- 転換社債
- 有価証券の貸借取引
- カスタムバスケットのデリバティブ、および
- ワラント
原資産が米国株式の場合です。銘柄の取引される取引所およびカウンターパーティーが規則の適用に影響することはありません。デリバティブは上場、店頭取引、米国内またはそれ以外で取引されるかどうかに関わらず、規則の対象となります。
また、デリバティブ銘柄は発行時の原資産米国株の経済状況を十分に再現している必要があります。 これは規則がデルタ（単純なコントラクトの場合）および実質的同等性テスト（複雑なコントラクトの場合）を見て決定します。
デルタはデリバティブが参照する米国株公正市場価格の変動に対する、このデリバティブ銘柄の公正市場価格の変動の割合を計算する相関測定です。 通常はこの規制を目的として、デルタはデリバティブ銘柄の存在期間中に一回のみ、その「発行時」に決定されます。 原資産有価証券の公正市場価格の変動時や、 流通市場でデリバティブ銘柄の再売却によって再計算されることはありません。
大方のコントラクトに適用される規則は以下のようになります:
· 2017年以前 – 2017年1月1日以前に発行されたデリバティブ銘柄（2016年12月31日の時点でお客様が弊社で保有されていたものすべて）は、今回の源泉徴収規則の対象になりません。
· 2017年 - 2017年に発行されたデリバティブ銘柄で発行時のデルタが1.0のものは、今回の源泉徴収規則の対象になる可能性があります。
· 2017年以降 – 2017年12月31日以降に発行されたデリバティブ銘柄で発行時のデルタが0.8のものは、今回の源泉徴収規則の対象になる可能性があります。
デリバティブが「複雑」と分類される場合には、デルタテストではなく、実質的同等性テストが適用されます。
デリバティブ銘柄はいつ発行されるのですか？
デリバティブ銘柄の発行時の確認は大変に重要です。これにより銘柄が規則の対象となるか（2017年以前に発行のものは対象にはなりません）ということと、デルタ算出の時期が決定されます。 銘柄は一般的にその存在が始まった時点、開始日または元の発効日を「発行時」とします。流通市場に再売却される際に発行されることはありません。
この結果、上場オプション、先物、その他の取引所取引商品および店頭取引商品に対しては、異なる発行規則が存在します。 例えばある米国の取引所で取引される上場オプションは、取引可能として取引所に始めて上場される際には発行されません。そのかわり、この上場オプションは顧客に入札された際に発行されます（デルタが決定されます）。これとは逆に、上場投資証券や転用社債、またはワラントなどの譲渡可能なデリバティブは、最初の売却時に発行されます。 この時に決定されるデルタは、次の購入者に売却される際に持ち越されます。
例外はありますか？
規則には源泉徴収に関する例外も幾つかあります。例には以下が含まれます:
• 「適格指数」を参照とするデリバティブ銘柄 - 通常はS&P 500やNASDAQ 100、またはRussell 2000などの、公的に入手可能なパッシブおよびブロード指数。
• 米国株の構成が少ないまたはない指数を参照とするデリバティブ銘柄 – Hang Seng Indexなど。
• 非米国人が原資産有価証券を直接保有した場合に、配当等同支払（またはその一部）が米国源泉徴収税の対象とならない場合。 これはキャピタルゲイン分配またはキャピタルのリターンとしてリキャラクタリゼーションされる、米国投資信託、REITS、および上場投資信託のデリバティブ銘柄に一番頻繁に発生します。
規則が適用される場合とされない場合の例を教えてください。
• 2017年1月2日に、IBMの個別株先物を購入します。先物のデルタは1.0です。 先物は規則の対象となります。
• 2016年12月28日に、OCC参加取引所に上場されるIBMのイン・ザ・マネーオプションを購入します。先物のデルタは1.0です。 オプションは2017年以前に発行されているため、規則の対象になりません。
• 2017年1月15日に、ナロー・べース指数の指数先物を購入します。この指数が「適格指数」ではないと想定します。先物は規則の対象となります。
• 2017年1月2日に、デルタが1.0で米国株をトラックする上場投資証券を購入します。証券は2016年7月1日に発行されています。 オプションは2017年以前に発行されているため、規則の対象になりません。
配当同等源泉徴収税はどのように算出されますか？
デリバティブ銘柄が新規のセクション871(m)の対象となる場合の銘柄に関する配当同等支払は、原資産となる米国株1株あたりの配当金、掛ける銘柄の参照とする原資産株の数量、掛けるデルタに相当します。（例：ある株の100株を保有するオプション・コントラクトで配当金が$1.00、デルタが.80の場合、配当同等支払が$80.00となり、これが税金の対象となります。
複雑なデリバティブ・コントラクトの場合、配当同等支払は原資産1株あたりの配当、掛けるコントラクト発行時に計算された原資産に同等するコントラクトのヘッジに相当するものとなります。
デルタ決定に際し、コントラクトはどのように組み合わされますか？
2018年よりのデルタの.80値を超えないロングコールなどのデリバティブ銘柄を購入されるお客様で、その2日以内に同原資産で同数量のプットを売却される方は、これらポジションを組み合わせた上で、制限を越えていないかどうかの判断がされます。
2017年中はデルタ値1.0銘柄作成を目的として組み合わされる可能性のある商品は、店頭取引商品のみです。
影響を受けるポジションに関し、クライアントにはどういった情報を提供するべきですか？
源泉徴収税の影響を最小限に抑えるため、TWS警告メッセージの配信を予定しています。このメッセージは非米国人のお客様が税金対象となる注文を作成する際に送信されます。 これにより注文をキャンセルして源泉徴収税を避けるか、注文を発注して配当金発生の際に税金をお支払いただくかの選択ができるようになります。該当する期日（通常は配当の基準日）にデリバティブを保有していない場合、源泉徴収税を避けることができる可能性があります。
重要な注意点: 弊社では税金、法律または財務に関するアドバイスは行っておりません。セクション871(m)による取引活動への影響の可能性は、専門のアドバイザーにご確認ください。
[1] コールオプションの保有者が配当を受取ることはありませんが、オプション保有者が支払うプレミアムには予想配当が考慮されています。（権利落ち日における株価は配当額分減少することが予想されるため、現金配当はコールプレミアムの減少を暗示します）
How to update the US Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) on your account
Background:
If you have been informed or believe that your account profile contains an incorrect US SSN/ITIN, you may simply log into your Account Management to update this information. Depending on your taxpayer status, you can update your US SSN/ITIN by modifying one of the following documents:
1) IRS Form W9 (if you are a US tax resident and/or US citizen holding a US SSN/ITIN)
2) IRS Form W-8BEN (if you are a Non-US tax resident holding a US SSN/ITIN)
Please note, if your SSN/ITIN has already been verified with the IRS you will be unable to update the information. If however the IRS has not yet verified the ID, you will have the ability to update through Account Management.
How to Modify Your W9/W8
1) To submit this information change request, first login to Account Management
2) Click on the Settings section followed by Account Settings
3) Find the Profile(s) section. Locate the User you wish to update and click on the Info button (the "i" icon) to the left of the User's name
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4) Scroll down to the bottom where you will see the words Tax Forms. Next to it will be a link with the current tax form we have for the account. Click on this tax form to open it
5) Review the form. If your US SSN/ITIN is incorrect, click on the UPDATE button at the bottom of the page
6) Make the requisite changes and click the CONTINUE button to submit your request.
7) If supporting documentation is required to approve your information change request, you will receive a message. Otherwise, your information change request should be approved within 24-48 hours.
Withholding Tax on Dividend Equivalent Payments - FAQs
Background
Beginning January 1, 2017, new IRS regulations will impose U.S. withholding taxes on US dividend equivalent payments to non-US persons holding derivative positions on US equities. Previously, US withholding tax was not imposed on these payments. The regulations require intermediaries, such as us, to act as withholding agents and collect US tax on behalf of the IRS. An overview of the tax, how it’s determined and the products impacted is provided below.
Overview
What is the purpose of the regulation?
The regulation derives from Section 871(m) of the Internal Revenue Code and is intended to harmonize the US tax treatment imposed on non-U.S. persons with respect to dividends on U.S. stock and dividend equivalent payments paid on derivative contracts that replicate (to a high degree) ownership of such stock.
An example of this would be a total return swap having IBM as its underlying. A non-U.S. person holding an IBM stock position would be subject to a 30% US withholding tax (reduced by treaty) on dividend payments. On the other hand prior to the implementation of Section 871(m), a non-U.S. person holding long exposure to IBM on the swap could receive payments equivalent to the dividends without imposition of U.S. withholding tax. This was the case even though the payments replicated similar economic exposure. Section 871(m) now considers those ‘dividend equivalent payments’ subject to US withholding tax.
What is a dividend equivalent payment?
A dividend equivalent payment is any gross amount that references the payment of a dividend on a U.S. equity and that is used to compute any net amount transferred to or from the long party, even if the long party make a net payment to the short party or the net payment is zero. Accordingly, such payments would include not only an actual payment in lieu of a dividend but also an estimated dividend payment that is implicitly taken into account in computing one or more of the terms of the transaction, including interest rate, notional amount or purchase price.
In the case of a listed call option on a U.S. stock, for example, the holder of the call is not entitled to receive a dividend unless the option is exercised prior to the dividend ex-date. Nonetheless, the premium paid by the holder to purchase the option implicitly takes into account the present value of the expected dividends over the option term.[1] Since this factor serves to lower the payment from the option buyer to the seller, it is viewed as a dividend equivalent payment potentially subject to the rules.
Who is subject to the dividend equivalent withholding tax?
The tax applies to qualifying positions held in an account of a non-U.S. taxpayer. It does not apply to U.S. taxpayers. Accounts of non-U.S. taxpayers generally are evidenced by the submission of an IRS Form W-8 and can include the following account types: individual, joint, organization and trust.
What derivative instruments potentially are subject to the dividend equivalent withholding tax?
The regulations adopt a two-part test to determine if a derivative instrument is subject to the rules. First, the derivative instruments must reference the dividend on a U.S. equity security. Examples include:
- equity options
- regulated single stock futures
- regulated index futures and options on index futures
- structured and exchange traded notes
- CFD contracts
- convertible bonds
- securities lending transactions
- derivatives on custom baskets and
- warrants
If the underlying position is a U.S. equity. The exchange upon which the instrument is traded and the identity of the counterparty do not affect the application of the rules. That is, a derivative can be subject to the rules, whether it is exchange listed or over the counter or trades in the United States or overseas.
Second, the derivative instrument must substantially replicate the economics of the underlying U.S. equity at the time of issuance. The rules look to delta (for simple contracts) and a substantially equivalency test (for complex contracts) to make this determination.
Delta is a correlation measurement that computes the ratio of the change in the fair market value of the derivative instrument to a change in the fair market value of the U.S. equity referenced by the derivative. In general, for purposes of this regulation, delta is only determined once over the life of the derivative instrument – at the time it is ‘issued’. It is not recomputed as the fair market value of the underlying security changes or when the derivative instrument is re-sold in the secondary market.
For most contracts, the rules are as follows:
· Pre-2017 – a derivative instrument issued prior to January 1, 2017 (i.e., anything held by a customer with us on December 31, 2016) is not subject to the new withholding tax rules.
· 2017 - a derivative instrument issued in 2017 is potentially subject to the new withholding tax regime if the delta at the time of issuance is 1.0.
· After 2017 – a derivative instrument issued after December 31, 2017 is potentially subject to the new withholding tax rules if the delta at the time of issuance is 0.8 or greater.
If the derivative is classified as “complex,” the delta test does not apply and instead the substantial equivalency test applies.
So When Is a Derivative Instrument Issued?
Identified when a derivative instrument is issued is very important. It determines if the instrument is subject to the rules (pre-2017 issued instruments are not) and when the delta computation is made. In general, an instrument is ‘issued’ when it comes into existence, its inception date or date of original issuance. Instruments are not issued when re-sold in the secondary market.
As a result, there are differences in the issuance rules for listed options, futures, other exchange traded products and over-the-counter products. For example, a listed option traded on a US exchange, generally, is not issued when first listed by an exchange as available for trading. Instead, the listed option is issued (delta determined) when the option is entered into by the customer. On the other hand, for transferable derivatives, such as exchange traded notes, convertible bonds and warrants, they would be issued only when first sold. The delta determined at that time would carryover when sold to a subsequent purchaser.
Are There Any Exceptions?
The rules do provide limited exceptions to withholding. These include:
• a derivative instrument that references a “qualified index” - generally, a passive broad publicly available index on U.S. equities such as the S&P 500, NASDAQ 100 or Russell 2000.
• a derivative instrument that references an index with little or no U.S. equity composition – such as the Hang Seng Index.
• if the dividend equivalent payment (or portion thereof) would not be subject to U.S. withholding tax if the non-US person owned the underlying security directly. This most often will occur for derivative instruments on U.S. mutual funds, REITs and exchange traded funds that pay ‘dividends’ which are re-characterized as capital gain distributions or returns of capital.
Can you provide some examples of when the rules will or will not apply?
• Customer purchases single stock futures on IBM on January 2, 2017. The delta of the future is 1.0. The future is subject to the rule.
• Customer purchases a deep in the money OCC listed option on IBM on December 28, 2016. The delta of the future is 1.0. The option is not subject to the rule as it was issued prior to 2017.
• Customer purchases index future on a narrow based index on January 15, 2017. Assume the index is not a ‘qualified index.’ The future is subject to the rule.
• Customer purchases an exchange trade note that tracks U.S. equities on January 2, 2017 with a delta of 1.0. The note was issued on July 1, 2016. The option is not subject to the rule as it was issued prior to 2017
How is the dividend equivalent withholding computed?
If the derivative instrument is subject to the new Section 871(m), a dividend equivalent payment with respect to such instrument equals the per share dividend on the underlying U.S. equity, multiplied by the number of underlying shares referenced by the instrument, multiplied by the delta (e.g., an option contract delivering 100 shares of a stock paying $1.00 dividend and having a delta of .80 would be subject to a tax based upon $80.00 dividend equivalent payment).
In the case of a complex derivative contract, the dividend equivalent will be equal to the per share dividend on the underlying, multiplied by the contract’s hedge equivalent to the underlying as calculated when the contract was issued.
How are contracts combined for purposes of determining delta?
Starting in 2018, customers who purchase derivative instrument such as a long call having a delta below the .80 threshold and selling a put on the same underlying and same share quantity within 2 days of one another will have those positions combined for the purpose of determining whether the threshold has been exceeded (e.g., the purchase of a long call with a delta of 0.60 coupled with the sale of a put with a delta of .40 would result in a long delta of 1.0).
In 2017, only over-the-counter instruments are potentially subject to combination to create a delta 1.0 instrument.
What information do we provide to inform clients about impacted positions?
To minimize exposure to the withholding tax, we intend to provide a TWS warning message will be provided when non-U.S. persons create an order that could generate the tax. This will give customers the option of canceling the order to avoid potential withholding or submitting the order and possibly paying the tax when a dividend occurs. Customers may avoid the potential withholding tax by not owning the derivative on the applicable withholding date (i.e., generally the dividend Record Date).
IMPORTANT NOTE: We do not provide tax, legal or financial advice. Each customer must speak with the customer’s own advisors to determine the impact that the Section 871(m) rules may have on the customer’s trading activity.
[1] While the holder of the call option does not receive a dividend, the premium paid by the holder for the option implicitly takes expected dividends into account (i.e., because the stock price is expected to drop by the amount of the dividend on the ex-dividend date, cash dividends imply lower call premiums).
