IB UK or IB USA

K

kalinka

If you are a customer of IB UK are you from a strict juridical
view customer of IB UK or IB LLC?
Why I'm asking is that the European Union's Council
directive 2003/48/EC entered in force as of 1st July 2005.
This directive is about taxation of savings income in the
form of interest payments. At least in Sweden they will
include options and futures in the definition of interest.
If your account is in the name of IB UK, they should
inform the taxauthorities in your country of residence
if this is a EU-Country.
However if your account is considered as IB LLC, IB has
no obligation to inform any taxauthority.
Looking at various documents it seems to me that
IB UK accounts are held by IB LLC.
Someone Knows or Could IB give an answer?
 
Quote from kalinka:

If you are a customer of IB UK are you from a strict juridical
view customer of IB UK or IB LLC?
Why I'm asking is that the European Union's Council
directive 2003/48/EC entered in force as of 1st July 2005.
This directive is about taxation of savings income in the
form of interest payments. At least in Sweden they will
include options and futures in the definition of interest.
If your account is in the name of IB UK, they should
inform the taxauthorities in your country of residence
if this is a EU-Country.
However if your account is considered as IB LLC, IB has
no obligation to inform any taxauthority.
Looking at various documents it seems to me that
IB UK accounts are held by IB LLC.
Someone Knows or Could IB give an answer?
More...

depends on tax treaty between u.s. and the particular country
 
what do you mean by "includes futures and options in the definition of interest"?
interest on margin deposit ? capital gains can't be treated as interest. '
 
If you have an account with IBUK then you are a customer of IBUK.
If you have an account with IBLLC then you are a customer of IBLLC.
Sorry I can't comment about taxes and judicial views, etc.
 
Steve,
Someone on IB should know the answer.
Must be an important matter also for IB.
If the account is with IBUK, IB must for
each client inside EU once a year send written
information to the taxauthorities in the clients
homecountry. IB must minimum state how much
interest that the client has received.
However if you look at the various forms you
sign when opening an account with IBUK
it seems very complicated to sort out if you
are a client of IBUK or IBLLC.
 
Quote from kalinka:

Steve,
Someone on IB should know the answer.
Must be an important matter also for IB.
If the account is with IBUK, IB must for
each client inside EU once a year send written
information to the taxauthorities in the clients
homecountry. IB must minimum state how much
interest that the client has received.
However if you look at the various forms you
sign when opening an account with IBUK
it seems very complicated to sort out if you
are a client of IBUK or IBLLC.
More...

Ok. Let me check. It may take me a day or two to find out.
 
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