Does the Form W-8 require renewal?

Introduction

This Users Guide is intended to assist introducing brokers with answering questions your clients may have when completing our online Tax Form. Individual and joint accounts having tax information requiring update will be presented with the form immediately upon login to Client Portal. For joint accounts, each account holder needs to provide his or her personal information and complete an appropriate tax form. Organization and trust accounts will complete the form through an updated online account application made available through your Client Portal Dashboard. Applicable sections of the form will be pre-populated with information on record and the form should therefore only take a few minutes to complete. Completion of the form in a timely manner is critical to ensuring that both U.S. and non-U.S. taxpayers are not subject to any exceptional U.S. tax withholding and non-U.S. taxpayers receive the most favorable rate on dividend withholding as defined by U.S. treaties. As a result, the form cannot be by-passed upon client login and no other Client Portal functions will be accessible until completed…

Your tax form has either expired or the information was not correct and as a result there was back up withholding tax.  Once you update or correct your tax form and if it is done in the same calendar year then IBKR can refund the tax directly to your account…

In the case of a closing stock sale for U.S. taxpayers, the reporting date for Form 1099-B purposes is the trade date. Accordingly, a closing securities trade executed on the last date of the year will be reported on that year’s tax reporting despite the fact that it will settle in the following year…

The IRS requires that contributions to a SEP IRA be reported on the IRS Form 5498 for the calendar year they are actually deposited to the account, regardless of the year for which they are made.

Note…