What timeframe of activity statements is made available online and how can archived statements be obtained?
Overview:
Daily activity statements for the past 6 years are available online through Client Portal. Monthly activity statements for the past 84 months and annual statements for the past 7 years are also available. Archived statements are available on a best efforts basis and are available in electronic format only (delivered via email). Charges vary by currency, and the fee schedule can be found on our website under the Pricing menu followed by Other Fees.
Note: IBKR does not typically provide daily statements in lieu of monthly or annual statements.
Payment may be made in the form of check, or in the case of active accounts a debit to the account cash balance. Requests for archived statements may be made via web ticket and checks are to be mailed to Interactive Brokers, Attn: Funds & Banking, 209 S La Salle St. Suite 1000, Chicago, IL 60604 USA
Background:
IMPORTANT NOTE
Cashier’s Checks, Official Checks, Teller’s Checks and Banker’s checks issued by banks are the recommended forms of payment. Personal checks and checks issued by a credit union or bill payment service are subject to a seven business day hold period, after which the requested statements will be issued.
My account was debited for a dividend payment (Payment in Lieu) for a short stock position which I don’t recognize. How did this occur?
Overview:
A short stock position may originate from an option position which you held in your account. For example, if you hold a long put position in your account, that position may be subject to automatic exercise by the clearinghouse if it is in-the-money by a defined threshold at expiration. This put exercise will generate a short stock position in your account (assuming you do not have an offsetting long position), and you are obligated to pay any dividends should you maintain a short stock position on the ex-dividend date.
Similarly, a short call position in your account is subject to assignment should a call purchaser elect to exercise their right to purchase the stock and your account be allocated through the random clearinghouse and broker assignment process. This call assignment will generate a short stock position in your account (assuming you do not have an offsetting long position), and you are obligated to pay any dividends should you maintain a short stock position on the ex-dividend date.
These payments will be reflected on your Activity Statement as a 'Payment In Lieu Of Dividend'.
What does Payment in Lieu refer to?
Overview:
A Payment in Lieu, or Pil, typically refers to a cash debit or credit made to an account in recognition of a stock dividend. A Pil in the form of a debit will be made when an account is holding a short position in a stock on its ex-dividend date. This debit occurs as the lender of the shares which facilitated the short sale remains entitled to all dividends paid throughout the duration of the loan period.
Conversely, a Pil in the form of a credit is made when a long stock position in an account has been loaned out on its ex-dividend date. Account holders should note that shares which are held long and which are the subject of a margin lien may be eligible to be loaned by the broker. In this situation the credit originates from payment by the borrower of the shares rather than from a dividend by the share issuer. U.S. taxpayers who are recipients of Pil credits should discuss the tax implications of Pils and non-qualified dividends with their tax adviser.
