When does the TBSZ expire or terminate?

Ending Cash is the total amount of cash in your account at the end of the statement period. Ending Settled Cash is the total amount of settled cash in your account at the end of the statement period.

When you execute a trade the settlement cycle takes normally 1 or 2 working days from trade date. This explains the difference in between Ending Cash and Ending Settled Cash…

You can withdraw assets at the end of the third year, which is the end of Holding Period 1. By declaring your intent between December 1^st and 30^th, you can make partial or full withdrawals on January 1^st.

You can modify your declaration multiple times during this time. A new declaration overrides the previous one. If the assets requested for withdrawal are not available on December 31, the requested withdrawal will not be executed, and the assets will remain in the TBSZ. For the returns of the amount withdrawn, you will be liable to pay 10% personal income tax. TBSZs opened after 2024 December 31 are subject to an additional 8% social contribution tax ("szochó")…

You are responsible for determining, declaring, and paying the tax to the NAV through self-assessment. If you withdraw assets from your TBSZ - fully or partially -before your TBSZ ceases, as well if your TBSZ ceases at the end of Holding Period 2, then you will be provided a TBSZ tax certificate issued via the Client Portal until 31 January of the following year…

You will need to pay 13%, 8% or 0% Social Contribution Tax ("szochó") on the return from partially or fully withdrawn assets. 13% - if the account is terminated during the contribution year or the first 3 years. 8% - at the end of the third year, ergo at the end of Holding Period 1, as well as when the TBSZ account breaks during the 4th or 5th year. 0% - if the TBSZ matures at the end of the 5th year, ergo at the end of Holding Period 2…