Free of Payment (FOP)
Delivery of long US stock positions, US Warrant positions, and Corporate and Municipal Bond positions from another US bank or broker that is a member of the Depository Trust Company (DTC). Requests for FOPs are made to the third-party broker. However, you must notify IB of a third-party FOP on the Position Transfers page in Account Management so that your transfer may be properly placed in your account.
An FOP deposit is only a notification of incoming securities while an FOP withdrawal actually transfers securities out.
When you request an FOP transaction, you have the option of creating a new Position Transfer Instruction or using an existing Position Transfer Instruction.
You can also upload positions in a .CSV file for a partial FOP transfer.
Please note FOP is not available for IRA accounts.
Time to Arrive
Transfers are generally completed within 3-5 business days, but this depends on your third-party broker. FOP notices are valid for five business days before expiring. Once the notice has expired IB will not accept the shares.
Only available for long US Stock positions, US Warrant positions, and Corporate Municipal Bond positions.