Weitergabe von Gebühren für American Depository Receipts (ADRs)

Kontoinhaber, die Positionen in American Depository Receipts (ADRs) halten, sollten beachten, dass für Wertpapiere dieser Art regelmäßige Gebühren fällig werden, die zur Entschädigung der Depotbank für die Verwahrung des ADR dienen. Die Verwahrungsleistungen der Depotbank umfassen üblicherweise eine Bestandsaufnahme der ausländischen Aktien, die dem ADR zugrunde liegen, und die Abwicklung aller erforderlichen Registrierungs-, Compliance- und Dokumentationsmaßnahmen.

In der Vergangenheit konnten die Depotbanken lediglich Verwahrungsgebühren erheben, indem diese von der ADR-Dividende abgezogen wurden. Da auf viele ADRs jedoch keine regelmäßigen Dividenden gezahlt werden, war es für die Depotbanken häufig nicht möglich, ihre Gebühren zu erheben. Im Jahr 2009 erhielt die Depository Trust Company (DTC) daher von der SEC die Genehmigung, die Verwahrungsgebühren für ADRs, auf die keine regelmäßige Dividende gezahlt wird, im Auftrag der Depotbanken zu erheben. Die DTC stellt diese Gebühren den teilnehmenden Brokern (wie z. B. IB) in Rechnung, die die ADRs für ihre Kunden halten. Diese Gebühren werden als „Pass-Through Fees“, d. h. als Weitergabegebühren, bezeichnet, da die Broker diese Gebühren wiederum ihren Kunden in Rechnung stellen.

Falls Sie eine Position für ein ADR halten, auf das eine Dividende gezahlt wird, werden diese Gebühren weiterhin wie bereits in der Vergangenheit von der Dividende abgezogen. Falls Sie eine Position für ein ADR halten, auf das keine Dividende gezahlt wird, so wird die Weitergabegebühr auf dem monatlichen Kontoauszug für den Stichtag aufgeführt, zu dem sie erhoben wird.  Ähnlich wie bei Bardividenden bemüht sich IB, bevorstehende ADR-Gebührenverrechnungen im Abschnitt „Aufgelaufene Beträge“ auf Ihrem Kontoauszug auszuweisen. Sobald Ihr Konto mit der Gebühr belastet wurde, wird diese im Abschnitt „Ein-und Auszahlungen“ auf Ihren Kontoauszügen angegeben. Dabei wird der Posten mit der Beschreibung „Anpassungen - Andere“ und dem Symbol des jeweils betroffenen ADR versehen.

Die Höhe dieser Gebühren beläuft sich im Allgemeinen auf 0.01 - 0.03 US-Dollar pro Aktie, wobei diese Beträge jedoch von einem ADR zum anderen variieren können und es ist zu empfehlen, dass Sie für spezifische Informationen den Prospekt des jeweiligen ADRs hinzuziehen. Mit Hilfe des EDGAR-Company-Search-Tools der SEC können Sie online nach dem gewünschten Prospekt suchen.

Дивиденды: о каких важных датах следует знать?

Overview: 

Существуют следующие ключевые даты, связанные с дивидендами по акциям:

1. Дата объявления - день, когда совет директоров компании утверждает дивиденды и назначает дату регистрации и их выплаты.

2. Дата регистрации - день, когда определяются акционеры, имеющие право на получение дивидендов. Для этого Вы должны владеть акциями на момент закрытия торговли в этот же день.

3. Экс-дивидендная дата - день, в который или после которого акции будут проданы без права получения дивидендов. Поскольку для большинства сделок с акциями в США установлен стандартный расчетный период  (т.е. три рабочих дня после сделки), то чтобы получить право на выплату дивидендов, акции необходимо приобрести за три дня до даты регистрации. Экс-дивидендная дата наступает за два дня до даты регистрации.

4. Дата выплаты - день, когда объявленные дивиденды выплачиваются всем лицам, владеющим акциями в дату регистрации.

Date fondamentali relative ai dividendi azionari

Overview: 

Di seguito vengono illustrate le date fondamentali relative ai dividendi azionari:

1. Data di dichiarazione dei dividendi: la data in cui il Consiglio di amministrazione della società approva il pagamento dei dividendi e stabilisce la Data di pagamento e la Data di registrazione.

2. Data di registrazione: la data in cui vengono individuati gli azionisti legittimati al pagamento del dividendo. Si ha diritto al pagamento del dividendo solo se si è in possesso delle azioni alla chiusura della Data di registrazione.

3. Data di stacco cedola: la data in cui, o a seguito della quale, le azioni vengono negoziate senza il diritto al dividendo. Siccome la maggior parte delle operazioni finanziarie negli Stati Uniti vengono regolate in modo regolare, ovvero, tre giorni lavorativi dopo la transazione, è necessario acquistare le azioni tre giorni lavorativi prima della Data di registrazione per poter essere legittimati al pagamento del dividendo. La Data di stacco cedola precede di due giorni quella di registrazione.

4. Data di pagamento: la data in cui i dividendi dichiarati vengono pagati a tutti gli azionisti in possesso di quote alla Data di registrazione.

Welche Stichtage sind in Bezug auf Dividenden von Bedeutung?

Overview: 

Die folgenden Stichtage sind im Zusammenhang mit Aktiendividenden von Bedeutung:

1. Ankündigungsdatum - Das Datum, an dem die Geschäftsführung eines Unternehmens die Ausschüttung einer Dividende beschließt und das Auszahlungsdatum sowie den Dividendenstichtag (Record Date) festlegt.

2. Dividendenstichtag - Dieses Datum entscheidet darüber, welche Aktieninhaber Anspruch auf den Erhalt der Dividende haben. Sie müssen bei Handelsschluss am Dividendenstichtag Inhaber der Aktie sein, um die Dividende ausgezahlt zu bekommen.

3. Ex-Tag - An oder nach diesem Tag wird die Aktie ohne Anspruch auf Erhalt der Dividende gehandelt. Für die meisten Aktientransaktionen in den USA gilt die übliche Abwicklungsfrist, d. h. drei Geschäftstage nach Abschluss der Transaktion. Daher muss ein Händler die Aktien drei Geschäftstage vor dem Dividendenstichtag kaufen, um Anspruch auf die Dividendenzahlung zu haben. Dementsprechend liegt der Ex-Tag (in den USA) zwei Tage vor dem Dividendenstichtag.

4. Auszahlungstag - Der Tag, an dem die angekündigte Dividende an alle Inhaber von Aktien gemäß Erfassung am Ende des Dividendenstichtags ausgeschüttet wird.

¿Cuales son las fechas claves en relación con los dividendos de acciones?

Overview: 

Las fechas claves en relación con los dividendos de acciones son las siguientes:

1. Fecha de declaración: fecha en la que la junta de directores de la empresa aprueba el pago de dividendos y designa la fecha de pago y la fecha de cierre de registro.

2. Fecha de cierre de registro: la fecha que determina los accionistas con derecho a recibir el pago del dividendo. Debe ser titular de acciones al final del día de la fecha del cierre de registro para recibir el dividendo.

3. Fecha exdividendo: la fecha en la que las acciones se negociarán sin el derecho a recibir el dividendo. Debido a que la mayoría de las operaciones en acciones en Estados Unidos se liquidan de forma regular, es decir tres días hábiles tras la operación, una persona física debe comprar las acciones tres días hábiles antes de la fecha de cierre de registro para cualificarse para el dividendo. La fecha exdividendo es, por lo tanto, dos días hábiles anterior a la fecha de cierre de registro.

4. Fecha de pago: fecha en la que el dividendo declarado se paga a todos los accionistas que tengan acciones en la fecha de cierre de registro.

Overview of Dodd-Frank

Background
The Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd-Frank, is a U.S. law enacted in July of 2010, the purpose of which is to prevent the recurrence of events which lead to the 2008 financial crisis. Its principal goals are to:

- Promote U.S. financial stability by improving accountability and transparency within the financial system;
- Protect taxpayers from future bailouts of institutions deemed “too big to fail”; and
- Protect consumers from financial services practices considered abusive.

For additional information, please review the following sections:
- Dodd-Frank reforms
- Dodd-Frank and your IB Account

 

 

 

 

 

Dodd-Frank Reforms
To accomplish its goals, Dodd-Frank proposed the following reforms:

- Enhanced oversight and supervision of financial institutions through the creation of Financial Stability Oversight Council
- Creation of a new agency responsible for implementing and enforcing compliance with consumer financial laws (Bureau of Consumer Financial Protection)
- Implementation of more stringent regulatory capital requirements
- Changes in the regulation of over the counter derivatives including restrictions upon access to Federal credit by swaps entities, establishment of regulatory oversight and mandatory trading and clearing requirements
- Enhanced regulation of credit rating agencies intended to eliminate exemptions from liability, enhance rating agency disclosure, establish prohibited activities and impose standards for independent Board governance
- Changes to corporate governance and executive compensation practices
- Incorporation of the Volcker Rule which imposes restrictions upon the speculative proprietary trading activities of banking entities
- Mandating studies intended to reform investor protection rules
- Changes to the securitization market including requirements that mortgage bankers retain a % of risky loans.

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Dodd-Frank and Your IB Account
Perhaps most visible to IB account holders of all the Dodd-Frank regulations are those relating to money transfers. Here, Section 1073 of the Act introduces consumer protections designed to increase transparency with respect to the costs, timing and the right to repudiate cross-border transactions.
For purpose of Section 1073, a cross-border transaction is defined as an electronic transfer of money from a consumer in the United States to a person or business in a foreign country. As IB LLC is a U.S. based broker, all its account holders regardless of whether they are domiciled in the U.S. or not, benefit from this protection and it covers withdrawals denominated in a currency other than the U.S. dollar as well as USD denominated withdrawals sent to a non-U.S. bank. Account holders submitting a withdrawal which is covered by this regulation will be provided with a disclosure after confirming the request within Account Management. This disclosure will include the following information:

- The name and address of the sender and recipient
- The amount to be deducted from the sender’s IB account
- The amount projected to be credited to the recipient’s bank account including an estimate of fees which the receiving bank's correspondent bank(s) may charge. Note that these correspondent bank fees are not set by nor is any part of them earned by IB.
- A disclaimer that additional fees and foreign taxes may apply.
- Notice of the sender’s right to cancel the transfer request for a full refund within 30 minutes of it being authorized.
- Regulatory contact information in the event of questions or complaints.

When estimating correspondent bank transfer fees, IB takes into consideration information collected from past customer transactions in addition to data made available by our agent banks. We encourage our customers to review and consider this information when making decisions regarding cross-border transactions.

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Stock Yield Enhancement Program FAQs

What is the purpose of the Stock Yield Enhancement Program?
The Stock Yield Enhancement program provides customers with the opportunity to earn additional income on securities positions which would otherwise be segregated (i.e., fully-paid and excess margin securities) by permitting IB to lend out those securities to third parties. Customers who participate in the program will receive a portion of the fee paid by the borrower as loan compensation for any day the loan exists and will receive cash collateral to secure the return of the stock loan at its termination.

 

What are fully-paid and excess margin securities?
Fully-paid securities are securities in a customer’s account that have been completely paid for. Excess margin securities are securities that have not been completely paid for, but whose market value exceeds 140% of the customer’s margin debit balance.

 

How is the income received by a customer on any given Stock Yield Enhancement Program loan transaction determined?
The income which a customer receives in exchange for shares lent depend upon loan rates established in the over-the-counter securities lending market. These rates can vary significantly not only by the particular security loaned but also by the loan date. In addition, IB assesses a Management Fee equal to 50% of the net loan fees paid in exchange for initiating, terminating and managing transactions. In determining the customer’s portion of these fees, the Market Fee Rate % is applied to the loan collateral and this daily Gross Lending Fee is split equally between IB and the customer.  For example, assume loan collateral of $10,000 and an annualized Market Fee Rate of 15%. In this example the daily Gross Lending Fee would be $4.16 (($10,000 *.15)/360), of which $2.08 would accrue to the customer and $2.08 to IB as its Management Fee. Lending fees are calculated and accrued daily similar to interest credits.

 

How is the amount of cash collateral for a given loan determined?
The cash collateral underlying the security loan and used for determining interest payments is determined using standard industry convention whereby the closing price of the stock is multiplied by 102% and then rounded up to the nearest whole dollar. For example, a loan of 100 shares of a stock which closes at $59.24 would be equal to $6,100 ($59.24 * 1.02 = $60.4248; round to $61, multiply by 100).

 

What are the eligibility requirements for participation in the IB Stock Yield Enhancement Program?
All IB LLC and IB UK margin accounts or IB LLC and IB UK cash accounts with equity over $10,000 at the time of application are eligible. IB Canada, IB Japan and IB India customers are not eligible. Japanese and Indian clients maintaining accounts with IB LLC are eligible.


In addition, Financial Advisor client accounts, fully disclosed IBroker clients, non-disclosed IBroker clients and Omnibus Brokers who meet the above requirements can participate. In the case of Financial Advisors and fully disclosed IBrokers, the clients themselves must sign the agreements. For non-disclosed IBroker and Omnibus Brokers, the broker signs the agreement.

 

Are IRA accounts eligible to participate in the Stock Yield Enhancement Program?
Yes.

 

How do I enroll in the IB Stock Yield Enhancement Program?
Clients who are eligible and who wish to enroll in the Stock Yield Enhancement Program may do so by selecting Manage Account followed by Trade Configuration and Permissions, and then checking the box at the top of the page (under Trading Programs) that says Stock Yield Enhancement.

 

What happens if equity in a participating cash account falls below the $50,000 qualifying threshold?
The cash account must meet this minimum equity requirement solely at the point of signing up for the program. If the equity falls below that level thereafter there is no impact upon existing loans or the ability to initiate new loans.

 

How does one terminate Stock Yield Enhancement Program participation?

Clients who wish to terminate participation in the Stock Yield Enhancement Program may do so by selecting Trading Access and then Trading Configuration from Account Management and then removing the check from the box on the Trading Permissions matrix titled "United States (Stock Yield Enhancement Program)".
Requests to terminate are typically processed at the end of the day.

 

What types of securities positions are eligible to be lent?
Eligible securities include U.S. common stocks (exchange listed, PINK and OTCBB), ETFs, preferred stocks and corporate bonds. Municipal bonds and non-U.S. securities are not eligible.

 

Is there any restriction on lending stocks which are trading in the secondary market following an IPO?
No, as long as IB is not part of the selling group.

 

How does IB determine the amount of shares which are eligible to be loaned?
The first step is to determine the value of securities, if any, which IB maintains a margin lien upon and can lend without client participation in the Stock Yield Enhancement Program. A broker who finances client purchases of securities via margin loan is allowed by regulation to loan or pledge as collateral that client’s securities in an amount up to 140% of the cash debit balance. For example, if a client maintaining a cash balance of $50,000 buys securities having a market value of $100,000, the debit or loan balance will be $50,000 and the broker holds a lien on 140% of that balance or $70,000 of securities. Any securities held by the client in excess of that amount are referred to as excess margin securities ($30,000 in this example) and are required to be segregated unless the client provides IB the authorization to lend through the Stock Yield Enhancement Program.

The debit balance is determined by first converting all non-USD denominated cash balances to USD and then backing out any short stock sale proceeds (converted to USD as necessary). If the result is negative then we free up 140% of that negative number. In addition, cash balances maintained in the commodities segment or for spot metals and CFDs are not considered.

EXAMPLE 1: Customer is long EUR 100,000 in a USD Base Currency account with a EUR.USD rate of 1.40. Customer purchases USD denominated stock valued at $112,000 (EUR 80,000 equivalent). All securities are deemed fully-paid as cash balance as converted to USD is a credit.

Component EUR USD Base (USD)
Cash 100,000 (112,000) $28,000
Long Stock   $112,000 $112,000
NLV     $140,000

EXAMPLE 2: Customer holds long USD of 80,000, long USD denominated stock of $100,000 and short USD denominated stock of $100,000. Long securities totaling $28,000 are deemed margin securities and the remainder of $72,000 excess margin securities. This is determined by subtracting the short stock proceeds from the cash balance ($80,000 - $100,000) and multiplying the resultant debit by 140% ($20,000 * 1.4 = $28,000)

Component Base (USD)
Cash $80,000
Long Stock $100,000
Short Stock ($100,000)
NLV $80,000

 

Will IB lend out all eligible shares?
There is no guarantee that all eligible shares in a given account will be loaned through the Stock Yield Enhancement Program as there may not be a market at an advantageous rate for certain securities, IB may not have access to a market with willing borrowers or IB may not want to loan your shares.

 

Are Stock Yield Enhancement Program loans made only in increments of 100?
No. Loans can be made in any whole share amount although externally we only lend in multiples of 100 shares. Thus the possibility exists that we would lend 75 shares from one client and 25 from another should there be external demand to borrow 100 shares.

 

How are loans allocated among clients when the supply of shares available to lend exceeds the borrow demand?
In the event that the demand for borrowing a given security is less than the supply of shares available to lend from participants in our Yield Enhancement Program, loans will be allocated on a pro rata basis (e.g. if aggregate supply is 20,000 and demand is 10,000, each client will be eligible to have 50% of his/her shares lent)

 

Are shares loaned only to other IB clients or to other third parties?
Shares may be loaned to any counterparty and is not limited solely to other IB clients.

 

Can the Stock Yield Enhancement Program participant determine which shares IB can lend?
No. The program is entirely managed by IB who, after determining those securities, if any, which IB is authorized to lend by virtue of a margin loan lien, has the discretion to determine whether any of the fully-paid or excess margin securities can be loaned out and to initiate the loans.

 

Are there any restrictions placed upon the sale of securities which have been lent through the Stock Yield Enhancement Program?
Loaned shares may be sold at any time, without restriction. The shares do not need to be returned in time to settle your sale of the share and proceeds from the sale are credited to the client’s account on the normal settlement date. In addition, the loan will be terminated on the open of the business day following the security sale date.

 

Can a client write covered calls against stock which has been loaned out through the Stock Yield Enhancement Program and receive the covered call margin treatment?
Yes. A loan of stock has no impact upon its margin requirement on an uncovered or hedged basis since the lender retains exposure to any gains or losses associated with the loaned position.

 

What happens to stock which is the subject of a loan and which is subsequently delivered against a call assignment or put exercise?
The loan will be terminated on T+1 of the action (trade, assignment, exercise) which closed or decreased the position.

 

What happens to stock which is the subject of a loan and which is subsequently halted from trading?
A halt has no direct impact upon the ability to lend the stock and as long as IB can continue to loan the stock, such loan will remain in place regardless of whether the stock is halted.

 

Can the cash collateral from a loan be swept to the commodities segment to cover margin and/or variation?
No. The cash collateral securing the loan never impacts margin or financing.

 

What happens if a program participant initiates a margin loan or increases an existing loan balance?
If a client maintains fully-paid securities which have been loaned through the Stock Yield Enhancement Program and subsequently initiates a margin loan, the loan will be terminated to the extent that the securities do not qualify as excess margin securities. Similarly, if a client maintaining excess margin securities which have been loaned through the program increases the existing margin loan, the loan may again be terminated to the extent that the securities no longer qualify as excess margin securities.

 

Under what circumstances will a given stock loan be terminated?
In the event of any of the following, a stock loan will be automatically terminated:

- If the client elects to terminate program participation
- Transfer of shares
- Borrowing of a certain amount against the shares
- Sale of shares
- Call assignment/put exercise
- Account closure

 

Do participants in the Stock Yield Enhancement Program receive dividends on shares loaned?
While the lender of the securities is entitled to receive the amount of all dividends and distributions made on loaned securities, they may receive cash payments in lieu of dividends, commonly referred to PIL. Depending upon one’s holding period for the shares loaned, the receipt of a PIL may have an adverse tax impact for certain U.S. taxpayers as such payments are taxed as ordinary income rather than at the reduced rate associated with qualified dividends. IB will attempt to mitigate the payment of PILs by recalling loaned shares prior to a dividend, however, IB cannot guarantee that the borrower will be able to return the shares within the necessary time frame to avoid receipt of PIL.

 

Do participants in the Stock Yield Enhancement Program retain voting rights for shares loaned?

No. The borrower of the securities has the right to vote or provide any consent with respect to the securities if the Record Date or deadline for voting, providing consent or taking other action falls within the loan term.

 

Do participants in the Stock Yield Enhancement Program receive rights, warrants and spin-off shares on shares loaned?

Yes. The lender of the securities will receive any rights, warrants, spin-off shares and distributions made on loaned securities.

 

How are loans reflected on the activity statement?

Loan collateral, shares outstanding, activity and income is reflected in the following 6 statement sections:


1. Cash Detail – details starting cash collateral balance, net change resulting from loan activity (positive if new loans initiated; negative if net returns) and ending cash collateral balance.
 

 

2. Net Stock Position Summary – for each stock details total Shares at IB, the number of Shares Borrowed, the number of Shares Lent and the Net Shares (=Shares at IB + Shares Borrowed - Shares Lent).

 

3. IB Managed Securities Lent – lists for each stock loaned through the Stock Yield Enhancement Program the Quantity of shares loaned, the Net Fee Rate (%) and the Collateral Amount.

 

4. IB Managed Securities Lent Activity – details the loan activity for each security including Loan Return Allocations (i.e., terminated loans); New Loan Allocations (i.e., initiated loans); the share Quantity; the Net Fee Rate (%) and the Collateral Amount.

 

5. IB Managed Securities Lent Activity Fee Details – details on an individual loan basis the Market Fee Rate (%); the Gross Lend Fee (represents the total fee charged to the borrower which is equal to {Collateral Amount * Market Fee Rate}/360); the IB Management Charge (equals 50% of the Gross Lend Fee); the Net Lend Fee Rate (represents the half of the Market Fee Rate which the client earns) and the Net Lend Fee (represents the client’s portion of the fee income. Equals the Gross Lend Fee - IB Management Charge).
Note: This section will only be displayed if the Net Lend Fee accrual exceeds USD 1 for the statement period.  

 

6. Interest Accruals – the loan fee income is accounted for here as an interest accrual and is treated as any other interest accrual (aggregated but only displayed as an accrual when exceeding $1 and posted to cash monthly). For year-end reporting purposes, this fee income will be reported as miscellaneous income on the Form 1099 issued to U.S. taxpayers.

 

Year End Statement & Report Comparison

Overview: 

The Interactive Brokers Year End Reports provide an activity review for US persons and US entities.  The various account statements provide the transaction details as the basis for each report.   Each of the standard reports spans the time period from January 1 through December 31.

Some reports, such as the Gain/Loss Summary Worksheet, may consolidate transactions and calculations.  For the sake of conserving volume, trade activity may be combined.  The account statements include all activity.  For your convenience and to assist with your reconcilation, customized statements permit activity displays suitable for your personal needs (see the tab "Customized Templates" for details).

All US tax reports include the total figures as required under the US tax laws.

Non-US Persons and Entities

Income paid from US sources to non-US  persons and entities may find this comparison helpful.  IB is required to withhold US taxes at a rate of 30% on payments of US source stock dividends and substitute payments in lieu. Both the withholding and the income is reported on the US tax Form 1042-S. 

For additional information about how IB handles non-US persons and entities, select this Tax Information and Reporting link  and choose the tab Non-US Persons and Entities.

Year End Reports (For Trading) Comparison shown below identifies the most common transaction types which appear on the year end reports.  Not all activity is included on each report.

Comparison of trades shown on the year end reports
Year End Reports Stock Bond Equity & Index Option Single Stock Futures Futures Forex
Form 1099 Sell Sell - - Gain/Loss -
Form 1042-S - - - - - -
Annual Statement Buy/Sell Gain/Loss Buy/Sell Gain/Loss Buy/Sell Gain/Loss

Buy/Sell Gain/Loss

Buy/Sell Gain/Loss

Buy/Sell Gain/Loss
Gain/Loss  Worksheet
Cost/Sell Gain/Loss Cost/Sell Gain/Loss Cost/Sell1 Gain/Loss1 Cost/Sell Gain/Loss - -
1256 Worksheet
- - Gain/Loss5 - Gain/Loss -

NOTES:  (1) Only cash settled; (2) Gain/Loss Worksheet was first published by IB with tax year 2007.  Worksheets for prior years are not available.  IB did provide gain and loss data on the Annual Statements; (3) The 1256 Worksheet was first published by IB with tax year 2008; (4)  Option transactions are not 1099 or 1042-S reportable transactions.  In accordance with the IRS guidelines, IB excludes the activity from the tax reports; (5)  Only broad-sed index options appear on the 1256 Worksheet

 

Year End Reports (For Income) Comparison shown below identifies the most common types of income which appear on the year end reports.  Not all income is reportable on a 1099 or Dividend Summary.

Comparison of income shown on the year end reports
Year End Reports Dividends Credit Interest Debit Interest Accruals Pay In Lieu Credit Pay In Lieu Debits Fees
Form 1099 Yes Yes No No Yes No No
Form 1042-S  Yes Yes No No Yes No No
Annual Statement Yes Yes Yes Yes Yes Yes Yes
Dividend Summary Yes No No No Yes Yes No
Gain/Loss Worksheet No No No No No No No
1256 Worksheet No No No No No No No

NOTES:   (1) US Tax Form 1042-S is provided to non-US persons/entities, along with the Dividend Summary.  The Tax Form reports interest, dividends, substitute payments in lieu, and US tax withholding from US securities; (2) For US persons/entities, the Dividend Summary may list dividends as potentially eligible for treatment as “Qualified” based on the holding period.  IB does not report this on the 1099-DIV or to the Internal Revenue Service; (3) Debit transactions are not 1099 or 1042-S reportable transactions.  In accordance with the IRS guidelines, IB excludes the activity from the tax reports; (4) Exchange, market data, and activity fees


 

 

Where to direct inquiries and requests regarding IBG Notes

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In the event an IB customer asks questions about, or wishes to discuss, IBG LLC Notes, you are required to inform the IB customer that:

 

1)                 the regulations do not permit IB Help Desk or IB Professional Services Desk employees to answer questions or address issues related to IBG LLC Notes; and,

 

2)                 any questions related to IBG LLC Notes should be sent in writing to ibnotes@interactivebrokers.com, and they will receive a response to their inquiry.

 

If you have a question regarding the above, please contact Brad Jacobowitz, ext 5863

Handling procedures for fractional fees

It should be noted that certain exchange fees as well as IB commission rates are established at levels beneath  that of the smallest increment by which a given currency is defined (e.g. $0.01 in the case of the USD).  In the event a customer incurs a fee having an extended value below this minimum increment, the fee will be calculated at its extended value and then rounded up or down to the nearest whole minimum increment of that currency.   

This rounding process may result in occurrences where the aggregate rounded commission charge as reflected in the cash balance section of the Activity Statement on a given day is $0.01 higher than the sum of the rounded charge reflected on a line item basis in the trades section. An example of this may occur for a sample series of option trades for a given day is provided below. 

EXAMPLE:

Action Calculated Fee (extended) Statement - Trades  Section (rounded at a line item level) Statement - Cash Balance Section (rounded at an aggregate level)
Customer buys one U.S. securities option, incurring a minimum commission charge of $1.00 plus an exchange Option Regulatory Fee of $0.014 $1.014 $1.01 N/A
Customer buys one U.S. securities option, incurring a minimum commission charge of $1.00 plus an exchange Option Regulatory Fee of $0.014 $1.014 $1.01 N/A
Totals $2.028 $2.02 $2.03

 

 

 

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