One should be the source of funds you've deposited in your account, other should be the source of all your wealth that can be converted to funds (but not necessarily deposited to IB). That's my understanding anyway.
IB: "...terminate our relationship with you..."
- Thread starter FutureScalper
- Start date
One should be the source of funds you've deposited in your account, other should be the source of all your wealth that can be converted to funds (but not necessarily deposited to IB). That's my understanding anyway.
So you think that they want to know source of all the money that I have ? For example if there are money on banking account that is not related to IBKR then they still want to know how have I gained it (inheritance/salary etc) ? Or if I have a house then I should explain where did I get money for that too ?
But there aren't a government or a tax inspection , it's not their business. Am I wrong ?
My impression, having IB as your sole or predominant trading account would be similar to owning a Rolls Royce made in Wuhan.
@themickey
I never forget a "keyboard warrior", who called me a "cunt". You WILL see me face to face, when the time is right. Oh, the sight of your face, will be PRICELESS...
You are my next goal, sweetheart...
PS. You can't have an IB Account: You are POOR...
@themickey
I never forget a "keyboard warrior", who called me a "cunt". You WILL see me face to face, when the time is right. Oh, the sight of your face, will be PRICELESS...
You are my next goal, sweetheart...
PS. You can't have an IB Account: You are POOR...
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This is demanded by the US government, not by IB themselves. I believe if IB had a choice, they wouldn't be asking any of this.
Yes, I lost my old IB account but I was able to get a new one by incorporating in a more reputable and transparent jurisdiction than the one I was using before
I am in the same boat. I am Italian and i had an account with residency in Italy. Then in 2018 i closed that account and reopened a new account following the rules with residency in another country in Asia. The problems started recently and were before related to funds wired to some accounts They didn’t like. Then it started a months ago with sow documents proof of identity and proof of residency. I sent them an official document from the Italian IRS stating my assets i have there but then they ask trading profit doc. And wife income. Scrutiny is really high and i actually feel treated because i always pay my taxes and they are not IRS. Ironically when yestarday i pointed out that my current account was funded through the old ib account they didn’t know. If there are regulatory requirements then fine but it’s unacceptable and not professional just send a sow document request without any explanation of what they really need. My guess is that they don’t know. Cc: @def
Same here. My account was funded with dividends (from trading) using an LLC. All funds can be traced to IB's own system but the SOW is still showing "being processed". Should be fairly easy to verify the source.