3 simple questions can help you choose a tax certification form. Read the questions and select the form. For more detailed help, see Tax Information & Reporting.
|• U.S. Citizen||• U.S. Business or Organization|
|• U.S. Green Card Holder||• U.S. Domestic Trust|
|• U.S. Legal Resident|
If the answer is YES, complete Form W-9
If the answer is NO, go to # 2.
|• H-1B Visa Holder||• TN Visa Holder
|• O-1 Visa Holder|
If the answer is YES, find your status by the "substantial presence test." See More U.S. Legal Resident Info
If the answer is NO, go to # 3.
*Question does Not apply to U.S. Citizens/Entities or Green Card Holders
|• Permanent Home Outside of U.S||• Entity Formed Outside of U.S.|
|•Business or Organization formed outside of U.S.|
If the answer is YES, complete Form W-8 (U.S. Citizens, Green Card Holders, and Entities still complete the W-9.)
NOT SURE because you work, live, or study in the U.S. then, see More U.S. Legal Resident Info
Disclaimer: IB does not provide tax advice. 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 international, federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor. We recommend that you consult a qualified tax adviser or refer to the U.S. Internal Revenue Service.
Filling out a tax certification form is required to open an IB account. The forms confirm your tax status in relation to the United States. Information provided by you may lower or exempt the U.S. tax withholding on your account.
This article will help you to:
►Choose the correct certification form ►Find your tax treaty benefits
►Fill out and submit your form online ►Answer tax certification questions
Which Form Do You Pick?
Tax Treaty Benefits
Management of account activity differs for each account type. IB is a U.S. broker and must follow U.S. guidelines. 3 simple questions help you choose the right form
Some countries have a tax treaty with the U.S. Find out if you benefit from a lower tax-withholding rate. Tax Treaty Benefit Info
Filling Out The Form
Tax Certification – FAQ’s
|The certification form is direct. Supply basic account information on the true owner of the assets or entity. Select W-9 Instructions or W-8 Instructions for help.||Seek professional advice for tax questions. These common questions and answers may help you make an informed decision. Tax Certification - Frequently Asked Questions|
Disclaimer: IB does not provide tax advice. 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 international, federal, state, local or other tax statutes or regulations, and do not resolve any tax issues in your favor. We recommend that you consult a qualified tax advisor or refer to the U.S. Internal Revenue Service.
This information is for general educational purposes only. Individuals should consult with their financial adviser or legal counsel to determine how rollover regulations affect their unique situations.
Generally, an investor changing jobs or leaving the workforce may utilize either a Direct Rollover election to continue their retirement savings outside of their employer-sponsored retirement plan. Assets distributed directly to your IRA from the retirement plan may qualify as a Direct Rollover.
What is a Direct Rollover?
The Direct Rollover is a tax-free distribution to you of cash or other assets from one retirement plan that you contribute to another retirement plan, including an IRA. The contribution to the IRA is called a rollover contribution. The Direct Rollover method transfers the assets directly from the retirement plan (and not to the IRA owner) into the investor's IRA, avoiding the 20% mandatory IRS withholding. This option to transfer retirement assets has no age limitations.
Eligible retirement plans include:
Who do you contact first?
Contact your retirement plan administrator or the human resources office for eligibility and requirements. The plan administrator is required to provide a reasonable direct method of asset transfer. Completion of an IRA Rollover Form provided by the administrator may be required, in some cases. In other cases, the plan accepts an IRA Rollover Form supplied by your IRA's broker. Therefore, it is important to check with the plan administrator.
Initiating your Direct Rollover through IB
For those transfers that require a broker-supplied IRA Rollover Form, Interactive Brokers provides a convenient IRA Rollover Form. Interactive Brokers will forward the request to the plan administrator or broker for processing. Funds may be transferred by either wire transfer or check directly to Interactive Brokers.
Before accepting an IRA rollover transaction into an IRA, we require that you review your eligibility for the rollover and certify your understanding of the rollover rules and conditions. The IRA Rollover Form includes the Rollover Form and an IRA Rollover Certification Form.
The Fund Transfers page within the Account Management lets you notify IB of an IRA Rollover deposit of funds into your account. Select the Funding tab in the header link and choose Deposit Funds in the Transaction list. In the Method list, select Direct Rollover. Complete, sign, and return both forms to the Interactive Brokers address on the form.
Contact Customer Service with any additional questions.
In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this article 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.
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