Deposit Withdrawal at Custodian (DWAC) is an electronic method of transferring newly issued or certificated shares from a transfer agent serving as a custodian, allowing the conversion of physical certificates into book-entry shares, and is commonly used for company-issued shares resulting from stock options or employee share plans. DWAC requires action from the delivering Transfer Agent and the receiving broker to complete the transfer. Please note that a processing fee may apply.
Use the button above or follow the below procedure to set up action from IBKR via DWAC:
- Log in to Client Portal
- Click Transfer & Pay followed by Transfer Positions
- Select Incoming
- Select the Region ("United States") of the delivering firm
- Select DWAC (Deposit/ Withdrawal at Custodian) from the Method menu and provide your Transfer Agent and transaction information.
What are the next steps?
The transfer agent must receive your Letter of Instruction before they will approve the DWAC request initiated by IBKR. In the absence of the letter, the DWAC request will be rejected.
The Letter of Instruction will generally require that you specify:
- Your IBKR account number and the exact name on your account.
- The recipient broker: Interactive Brokers LLC
- The recipient broker DTC Participant Account Number: 0534
Please check your transfer agent website for guidelines.
Timing
- DWAC requests are settled or rejected on the same day the request is made, but the request submitted after 3:45pm EST are processed the next business day. Find more information on DWAC transfers on our website.
- IBKR will provide status on your transfer under Transaction Status & History.
Fees
- USD 100 per completed DWAC transfer. No fee for a rejected DWAC.
Please Note
- IBKR may not accept certain transfers of US micro-cap stocks.
- Employee Share Plan/ESPP/ESOP Holders: Please check with your share plan administrator before selecting this method, as your plan may utilize a Free of Payment (FOP) transfer instead.