What's the difference between POD and TOD accounts?

Transfer on Death is a form of account registration which allows individuals to pass the assets in their account with us directly to another person or entity upon their death without having to go through probate. This registration option is solely available to US-based Individual accounts, Joint accounts that are Tenants with Rights of Survivorship or Tenants by Entirety, and Individual IRA Account Users with a single account or multiple linked accounts…

IBKR offers four types of joint accounts, each which accommodates two account holders. Upon death of any or both joint holder(s), the surviving holder or relevant party handling your estate is required to provide IBKR with notice of the death and documents, as required…

IBKR does not accept applications from existing estate accounts but will only create an estate account in the event of the death of an existing account holder. When an estate account is created for an existing account holder, assets will only be distributed in the name of the estate and not to individual heirs. Notification of the death of an IBKR account holder should be sent to…

IBKR does not directly tax accounts at the time of the owner's death. The executor of the individual's estate would be responsible for the calculation and payment of any applicable taxes.

You should consult your tax advisor for any additional questions…