In the event you submit an election for an open voluntary corporate action, IBKR will reflect your election as pending until the deadline of the offer. At the time of our submission of the elections to the depository or clearing agent, IBKR will run a check against current holdings in the account. If you have previously sold the shares on which you have elected, IBKR will reduce your election.
Clients may remove or modify their elections throughout the period in which an election window is open. Simply access the Corporate Action Manager through Client Portal and update your choice.