How can I check the status of funding transactions?

Overview: 

IBKR provides account holders with a tool that provides real-time updates and current status of all deposit and withdrawal transactions relating to both cash and positions which have taken place over the prior 45 calendar day period. This tool is made available through the secure Account Management application and may be accessed via the Transfer & Pay and then Transaction History menu options.

Display

By default, the Transaction History page shows all of your funding transactions for the past ten days. You can adjust that up to the past 90 days by adjusting the time slider. Click and drag the slider right or left to change the time. The page updates to display all of your funding transactions for the selected period.

By default, transactions are displayed by date in descending order. Change the sort order by clicking any column heading. To change the sort order from descending to ascending, click the column heading again. For example, if you want to view all deposits listed together, click the Type column heading.

Click the Configure (gear) icon to configure the transaction history to display additional information, including Account ID, Account Title and Method.

To view transaction details, click anywhere on a transaction row. Details for the transaction appear in a popup window. From the transaction detail popup window, you can perform any of the following operations:

  • Cancel any transaction that has a status of Pending by clicking Cancel. Click Yes to confirm the cancellation.
  • Print the transaction details by clicking Print.
  • Stop payment on a check withdrawal.
  • Close the popup window by clicking the X icon in the upper corner.
    • Note: DO NOT CLICK THE CANCEL BUTTON UNLESS YOU WANT TO CANCEL THE TRANSACTION.

Search and Filter

Search for a specific transaction by Account ID, Account Title, Transaction Type (deposit, withdrawal, etc.), Transaction Method (check, wire, etc.), or Status by typing the search criteria in the Search field, and then clicking the Search (magnifying glass) icon. Search words are not case-sensitive.

Filter the transaction history by Transaction Type, Method or Status.

Print and Export

To print the transaction history as currently displayed, click the Print icon located in the upper right corner of the screen.

To export your transaction history to an XLS file (Microsoft Excel-compatible), click the Export icon located in the upper right corner of the page. You are prompted to save or download the .XLS page to your computer (depending on your web browser). Once saved, you can open that file in Microsoft Excel.

 

I'm trying to transfer assets from my account at Fidelity via ACATS but can't find that broker on your dropdown list.

Overview: 

Fidelity Investments uses its National Financial Services affiliate for certain clearing, custody and brokerage services including ACATS transfers.  To initiate a full or partial ACATS transfer from a Fidelity account, select  National Financial Services (DTCC No 0226) from the drop-down broker list.

IRA: Understanding Rollovers

Interactive Brokers offers three IRA account types for US persons:  Traditional IRA, Roth IRA, and Simplified Employee Pension plan IRA (a.k.a. SEP-IRA). Rollover transaction options may be available into or out of each account type.

The term IRA Rollover refers to several different movements of funds between US retirement accounts. Select from the list below for a brief description of each rollover type available, as well as the their guidelines.

 

IRA to IRA Rollover

Direct Rollover

IRA to Employer Sponsored Retirement Plan Rollover

12-Month Rule

60-Day Period

 

Rollover Types

1. IRA to IRA Rollover

Funds withdrawn from an IRA and re-deposited into an IRA within 60 days may be eligible for treatment as a 60-day rollover contribution. If eligible, this movement of funds may qualify as an IRA withdrawal of funds without any penalty or taxes.   

Tax Reporting - IBKR will report the withdrawal of funds as an IRA distribution and the re-deposit of funds as an IRA rollover contribution to the IRS. The IRS receives Form 5498 (IRA Contributions) and Form 1099-R (IRA Distributions). US investors do not include the Form 5498 with their tax filing, but do include the 1099-R. Click IRA Tax Reporting for details.

2. Direct Rollover

Funds received or withdrawn from an employer-sponsored retirement plan and deposited directly into an IRA. The 20% tax withholding of funds by the plan sponsor is waived when funds are rolled directly into an IRA.

Tax Reporting - IBKR will report the deposit of funds from an employer-sponsored retirement plan as an IRA rollover contribution to the IRS. The IRS receives Form 5498 (IRA Contributions). US investors do not include the Form 5498 with their tax filing. Click IRA Tax Reporting for details.

3. IRA to Employer Sponsored Retirement Plan Rollover

Funds moved directly from an IRA into an employer's retirement plan are deemed rollover contributions. Not all retirement plans accept rollovers from IRAs. Investors should consult the plan sponsor to determine eligibility.

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Limitations & Guidelines 

12-Month Rule

Distributed funds from an IRA may be rolled into another IRA only once every 12-month period. The rule applies to funds withdrawn from each separate IRA. The 12-month period begins the date funds are received, not on the date funds are deposited into another IRA. (See IRS Publication 590 for limited exceptions to the rule.)

60-Day Period

Distributions from an IRA or Employer Sponsored Retirement plan may remain eligible for the tax-free rollover treatment only when contributed to another qualified plan within 60 days of receipt. Generally, funds re-deposited outside of 60 days are not tax-free.  The withdrawal of funds is taxable. The deposit into another IRA is treated as a regular contribution.  (See IRS Publication 590 for limited exceptions to the rule.)

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Click here to return to the Retirement Account Resource page.

Disclaimer: IBKR 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 US Internal Revenue Service.

How do I transfer my US securities positions from my current broker to IB?

Overview: 

Broker to broker transfers for US securities are conducted via a process known as the Automated Customer Account Transfer Service or ACATS.  This process generally takes between 4 to 8 business days to complete in order to accommodate the verification of the transferring account and positions. The request is always initiated via the receiving broker (IB in this case) and can be prompted by following the steps below.

1.      Log into Account Management and select the Transfer & Pay and then Transfer Positions menu options.

2.      From the Transaction Type drop-down list select 'Inbound Position'

3.      From the Method drop-down list select 'ACATS'.

4.      Enter the sending Broker Information in the fields provided, and click CONTINUE

5.      In the Transaction Information section, indicate whether or not you wish to transfer all assets and select Yes to the authorization option. 

a.       Note that a "transfer all assets" election does not require that you specify any assets as an attempt will be made to transfer your account in its entirety.  Account holders should note, however, that certain positions may not be on the list of securities eligible to trade at IB and others, while transferable, may be subject to a house margin requirement higher than that of the delivering broker.  In the event IB receives an asset list from the delivering broker which includes ineligible positions or the aggregate of the positions transferred are such that a margin deficit would exist were the transfer to occur, IB will attempt to contact you to remedy the situation within the allocated time frame after which an automatic reject of the full transfer would take effect.  Account holders may wish to minimize potential delays or problems associated with a ‘Full’ transfer request by verifying security eligibility and margin requirements via the Contract Search link located at the upper right hand corner of the IB homepage prior to initiating the transfer.

b.      If you elect to not "transfer all assets", the system will require that you specify the positions you wish to transfer. Click Add Asset to add the positions you wish to transfer. Fill out the Asset Search and Transaction Information sections and click Continue.

6.      On the page that appears, type your signature in the Signature field, and then click CONTINUE.
Click BACK to modify the transfer request.

Please note that brokers generally freeze the account during the transfer period to ensure an accurate snapshot of assets to transfer and may restrict the transfer of option positions during the week prior to expiration. You may wish to check with the delivering broker to verify their policy in this regard. In addition, please note if your IB account is currently maintaining positions on margin, any cash withdrawals or adverse market moves could increase the likelihood that your account falls out of margin compliance during the transfer period which may delay or prevent completion of the transfer. 

 

IMPORTANT NOTICE

Applicants may meet the initial account funding requirement through the transfer of securities positions and/or cash via the ACATS system.

The average price shown for one of my positions in the Trader Workstation is incorrect.

Overview: 

 

Average trade prices may be susceptible to reporting error on the Trader Workstation, particularly in situations where a corporate action or position transfer takes place.  While this information is intended for advisory purposes only and such errors have no impact upon the account equity or any ultimate tax obligation of the account holder, this information is adjustable by the account holder.  To adjust the average cost of a particular security, open the Account Window within the Trader Workstation and scroll down to the Portfolio section. Select the asset in question from the Portfolio section and right click on it to display the drop-down window and the Adjust Average Price menu option. Enter the desired average price into the dialog box and click OK to update the Trader Workstation view.

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