CTFC form 40 (large trader) reporting

T

tradegoodstocks

I got email from the CFTC and from Interactive Brokers regarding form 40. I'm a pretty "small" guy and my position sizes are by magnitudes smaller than the limits indicated on https://www.ecfr.gov/cgi-bin/retrie...10cfde50731&mc=true&r=SECTION&n=se17.1.15_103

I have a few equity index and treasury futures in my IRA and in my self-administered 401(k) and another retirement trust, that I roll over every quarter.

Why am I getting the form 40 reporting emails? Possibly a mistake by IB?

Also, I get 3 emails simultaneously every time, but all 3 have the same 9-digit registration code. If I were required to file the form, is it for all 3 entities separately, or one form for me as the actual trader on behalf of the trusts? None of the emails mention an account number of entity name that they refer to, only me personally.
 
First check to see if they are phishing emails. Second if they are really legit emails from IB, contact them and ask them why you are sent these. Could be a mistake on their part that they mixed you up with someone else.
 
They are not fishing emails. I don't think they mixed me up with someone else, as I'm sure the emails are system generated. I'm curious if someone else has ever received requests to file form 40, and if yes, about what was your account size or trading volume in the futures.
 
As brokers we have clients who get these forms. Depending on the specific market and the position size, it can be as small as 50 contracts on thin markets like lumber or as large as 1000 + for high liquidity markets like 10 years and mini SP.
Reach out to your broker if you are able to, if not, feel free to PM me and I can try to assist based on specifics.
 
as longtime CBOT member I filled out my first form 40 almost 20 years ago though I was trading exchange limits. the government just wants to know that the trader is not a) using other investment vehicles such as managed money in combination with a personal futures account to skirt position limits and b) under the influence of any foreign governments. the new online form is a complete PITA but I would definitely not blow it off as one does not want to be on the wrong side of the CFTC. pick up the phone and call them as they are pretty agreeable. if you are a smaller trader the only thing I can think of is did you take contracts into delivery?
 
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