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).
Common Reporting Standard (CRS)
The Common Reporting Standard (CRS), referred to as the Standard for Automatic Exchange of Financial Account Information (AEOI), calls on countries to obtain information from their financial institutions and exchange that information with other countries automatically on an annual basis. The CRS sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.
Interactive Brokers will comply with the OECD's Common Reporting Standard – Automatic Exchange of Information (CRS-AEOI).
- What is reported:
- Name
- Address
- Tax ID Number
- Tax Country
- Date of Birth
- Place of Birth
- Year-end account balance
- Gross Proceeds (all sales)
- Interest income
- Dividend income
- To whom is the information reported:
- For accounts held by the Interactive Brokers U.K. entity, the above information will be reported to HM Revenue & Customs of the United Kingdom. (During the first reporting period in May 2017, only Jurisdiction 1 countries will be reported.) The list can be found on the OECD website by clicking here http://www.oecd.org/tax/transparency/AEOI-commitments.pdf
- For accounts held by Interactive Brokers Hong Kong entity, the above information will be reported to Inland Revenue Department of Hong Kong.
- For accounts held by Interactive Brokers Japan entity, the above information will be reported to National Tax Agency of Japan
- For accounts held by Interactive Brokers India entity, the above information will be reported to Income Tax Department of India
- For accounts held by Interactive Brokers Canada entity, the above information will be reported to the Canada Revenue Agency
- For accounts held by Interactive Brokers LLC, there is no reporting since the United Sates has not signed the CRS.
- When will reporting take place and for what timeframe:
- For IB UK accounts, the information will be reported for the first time in May 2017 for the calendar year 2016
- For IB India, the information will be reported for the first time in May 2017 for the calendar year 2016
- For IB HK, the information will be reported for the first time in May 2018 for the calendar year 2017
- For IB Japan, the information will be reported for the first time in May 2018 for the calendar year 2017
- For IB Canada, the information will be reported for the first time in May 2018 for the calendar year 2017
- Non-Disclosed Introducing Brokers are responsible for their own reporting
FATCA Procedures - Grantor Trust Tax Information Submission
概観:
Interactive Brokers is required to collect certain documentation from clients to comply with U.S. Foreign Account Tax Compliance Act (“FATCA”) and other international exchange of information agreements.
This guide contains instructions for a Trust to complete the online tax information and to electronically submit a W-9 or W-8BEN.
U.S. Tax Classification
Your U.S. income tax classification determines the tax form(s) required to document the account.
You must login to Account Management with the trust's primary username to access the Tax Form Collection page.
1. Tax Form Collection
The Tax Form Collection page lets account holders review and update important tax-related information and lets account holders electronically fill out an IRS Form W-9 (U.S. taxpayers) and IRS Form W-8 (non-U.S. taxpayers).
Accessing the Tax Form Collection Page
a. Click Manage Account > Account Information > Tax Information > Tax Forms.
b. Click the Update Tax Forms button to access the Collection page.
The Tax Form Collection page opens, displaying a form with tax-related information that should already be completed. (Advisors and brokers can check the status of client updates to this page on the Dashboard Pending Items tab.
c. Review the Trust’s information and update as required.
Confirm the primary tax residency of the trust beside the Tax Residency question, "In what country is the trust a resident for tax purposes?" Select the appropriate country in the drop down menu.
Select in the Tax Residency drop down menu the applicable country.
d. Click Continue.
2. Classification for US Tax Purposes
Confirming the Trust’s classification for U.S. purposes
a. Review the Trust’s status by confirming the question, “How are you classified for US tax purposes?” The answer is pre-filled based upon your information completed during the account application process.
b. Click the Continue button to confirm the trust classification and complete the Form W-8 or W-9 for the entity.
c. Click the Continue button to identify each Grantor.
3. Identify Grantors
a. Click Manage Account > Account Information > Tax Information > Tax Forms.
b. Click the Create button beside each grantor to send each user the applicable tax questionnaire and to submit the tax certification form (W-8 or W-9).
Also, update the "Percentage of Ownership" to add up to 100%, if necessary.
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c. Enter the required fields for the username and password for specified grantor and click the Continue button to complete the email delivery of the link.
We will then send the owner a link to complete the necessary tax form. This link will only be used for the collection of tax forms. You must provide the username and password to the Grantor as link will not contain them.
Each Grantor must login with the username/password created and complete the pending tasks by going to Manage Account > Account Information > Tax Information > Tax Forms > Update Tax Forms.
d. Click the Continue button upon creating and sending usernames to each Grantor.
Disclaimer
This guide does not constitute tax or legal advice and Interactive Brokers cannot advise you on how to complete an IRS Forms W-8 or W-9. Instructions are for information purposes only and do not address all possible scenarios. Please consult your tax professional if you are unsure how to complete.
