How do I submit a US inbound position transfer via DRS?

Question

Accepted Answer

REQUEST INBOUND POSITION TRANSFER VIA DRS

DRS (Direct Registration System) is used to transfer shares that are held electronically (book-entry) at a Transfer Agent.

Use the button above or follow the below procedure to transfer assets via DRS:

Log in to Client Portal
Click Transfer & Pay followed by Transfer Positions
Select Incoming

Select the Region ("United States") of the delivering firm
Select Transfer Shares Held at Transfer Agent
Click SELECT button and enter broker information
Click CONTINUE button

Checklist:

Names must match
SSN/TIN numbers must match
Account Ownership must match

If the details do not match, then check the Edit box next to the Account Title and Tax Identification Number (TIN) fields to make corrections. An acknowledgement message will appear for edits that requires the client's authorization. In the case of a name change (due to marriage, divorce, gender changes, shortening of names or different version of names at Transfer Agent and IB, etc.), the "Upload Verification Document" section will be made visible to the Client in order to upload supporting documentation. Please allow additional time for review of name changes.

What are the next steps?

Nothing is needed from your end.
Once DRS Transfer has been initiated, you may monitor the status of your transfer request through the Transfer & Pay then select Transaction History menu options in Client Portal.

Timing

While transfer agents typically respond to a request in 1 to 3 days, requests may take up to 30 days to complete.
IBKR will provide status on your transfer under Transaction Status & History.

Fees

DRS Settled/Rejected transactions will be assessed a fee as per our website. A minimum of USD 100 in available funds is required to cover potential rejection fees. If this minimum is not met, your transfer will be rejected. As requirements may vary depending on factors such as your account's entity or account type (cash vs. margin), we recommend funding with a small buffer above the stated minimum to help avoid rejections caused by FX conversion calculations.

Please Note

If your account does not have a valid W-9 on file with a US Tax ID number (Social Security number or TIN), we will use a default Tax Identification Number (999999999) when submitting the DRS request. If this is inconsistent with the information on your account with the agent, you may edit it in Client Portal to match that of your DRS Transfer Agent. If you are unsure if a Tax ID number should be used for your request, you should reach out to the Transfer Agent to confirm or please contact Client Services via Message Center for assistance in processing the DRS transfer manually before submitting the request online. Non matching Tax Identification numbers will lead to a rejection and the applicable fee will be charged.
If your transfer request includes securities held in multiple accounts at the agent, submit separate requests for each account.
IBKR may not accept certain transfers of US micro-cap stocks.

Additional Information