Tax: UK Persons and Entities: How do I access my tax forms?
Your tax forms, including Form 1042-S, Annual Activity Statement and Dividend Statement, are available electronically. To access, log into Account Management and click Report > Tax Forms. If you have the old Account Management layout, select Tax Forms from the Report Management section. Please review the information on your forms.
Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
Tax: UK Persons and Entities: UK Residents IB Accounts
Residents of the UK, EU countries and other select countries (i.e., Switzerland) may only open an account with Interactive Brokers (UK) Limited, irrespective of where you are domiciled. For your reference, Interactive Brokers (UK) Limited acts as an arranger for Interactive Brokers LLC. Interactive Brokers LLC holds clients funds and assets.
Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
UK Persons and Entities: How to Retain a Copy of Your Form W-8
As you complete Form W-8, you have the option to print a copy for your records.
Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
Tax: UK Persons and Entities: Capital Gains and the W-8 Form
When you complete your W-8 form, you can denote that you are a UK resident. There is a treaty between the UK and US which allows you to choose to pay your taxes in the UK by entering this information on your W-8 form (terms and conditions apply, e.g., IB still will collect taxes on dividends and stamp duty will be collected for all London Stock Exchange share purchases in real-time).
In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this FAQ was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer.
Tax: Canadian Persons and Entities: Interest Expense
Interest expense is not reported on any tax form. This information is available on your Annual Activity Statement.
In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this FAQ was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer.
Tax: Canadian Persons and Entities: Receiving Tax Forms
Tax forms will not be sent by mail. Tax forms are only available electronically. To access, log into Account Management and click Reports > Tax Forms. If you have the old Account Management layout, select Tax Forms from the Report Management menu. Please review the information on your forms.
In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this FAQ was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer.
Tax Reporting: Canadian Tax Forms
As a Canadian resident, you may receive:
- A form T5008 statement of your securities transactions.
- If you received distributions from trust units, you will receive Form(s) T3.
- If you received dividends or interest, you will receive Form T5.
- Québec residents may also receive RL-3, R-16, and RL-18.
- Non-residents of Canada who receive dividends and/or interest from Canadian securities may receive a Form NR4.
You will also need your annual statement (available mid-February) to calculate your capital gains/losses.
In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this FAQ was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer.
Non-US Persons and Entities: What statements does IBKR offer at the end of the year?
For all clients IBKR provides an Annual Statement and a Dividend Report. Your Annual Statement shows trade detail for your account gain and loss on a First In, First Out (FIFO) matching basis or the specific method of tax accounting selected for your account. Your Dividend Report shows account detail for all dividends, and payments in lieu of dividends, as well as withholding on these amounts.
For further explanations of these statements on the IBKR website click the Products > Tax Information and Reporting link and refer to the Non-US Persons and Entities tab. Your statements are accessible from our website by logging in to Client Portal and accessing the Reports > Tax menu option.
Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
Non-US Persons and Entities: If a new tax treaty is approved, when will IBKR apply revised treaty rates to my securities transactions?
IBKR will update and apply new tax treaty rates as they are effective. However, be aware that there is often a delay between the announcement of new tax treaties and the effective date for withholding changes by brokers. Until the effective date, IBKR must continue to withhold at the existing statutory rate (or old treaty rate).
Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
Tax: Non-US Persons and Entities: Refunds of Tax Withheld
In general, amounts withheld for US taxes are non-refundable. However, under certain circumstances, such as an incorrect rate being applied to withhold tax, a refund can be obtained. If you are an individual, file either Form 1040NR, "US Nonresident Alien Income Tax Return" or 1040NR-EZ "U.S. Income Tax Return for Certain Non-Resident Aliens with No Dependents" to obtain a refund. There are similar US forms for trusts and corporations. IRS Publication 515 "Withholding of Tax on Non-Resident Aliens and Foreign Entities" and IRS Publication 519, "US Tax Guide for Aliens", available free at www.IRS.gov/formspubs provide more information on this subject.
Circular 230 Notice: These statements are provided for information purposes only, are not intended to constitute tax advice which may be relied upon to avoid penalties under any federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor.
