Transferred 24k MYR to 6945.42 SGD at 4.02 pm using Sunway Money. SGD.MYR rate (from investing.com) is about 3.4425, so some 38 basis-point spread.

Money received same day today at 5:11 pm.

Did anyone notice something odd about IBKR's profit calculation today?

My SGX counters are making lots of money...



But IBKR shows the same figure with a negative sign in front of them plus highlighted in red...

The one that's suppose to lose money (OCBC) is in the green instead.

If VT gives dividend, that should be declared only if you bring back the money (keyword: "received in Malaysia").

As for your reinvestment case, I think you should still declare them in part K of your BE-form as the reinvestment is not done at the fund level (you reinvest yourself). If no declaration is needed for the reinvestment case, that might be a big tax loophole...

dwRK can help correct if I am wrong. This part I am not so sure.
Yea, you are right. No distributions from the funds mean everything is in the form of capital gain of ETF prices, which are non-taxable and need not be declared anyway.

Nope, for my case, my experience is exclusively limited to VWRA, which is poorly integrated into IBKR - there's no dividend report, no reinvestment record what-so-ever on IBKR. Supposedly I do not need to pay tax on dividend income where the headline tax is no less than 15% (https://www.hasil.gov.my/media/p0lntthw/20221229-guidelines-tax-treatment-in-relation-to-income-received-from-abroad-amendment.pdf) but I am not sure if I need to declare it still.

VWRA dividend is handled at the fund level, so technically speaking, I don't have a dividend to tax and it's all capital gains? (For example, in UK, supposedly UK doesn't tax it at all because the shareholder of the fund explicitly does not receive them, which is inline with the lack of documents available on IBKR and Vanguard Mexico). But quite a few discussion disagrees but they didn't clarify if their "dividend reinvestment" is done at broker level or fund level. So I am not too sure about this myself.

As for the dividend details itself, since IBKR doesn't have them, the best thing I can realistically do is to sift through the Vanguard annual reports to find and calculate it myself unfortunately, if I really had to declare it somehow.

That is what I have in mind also. I am looking at VWRA documents, can't find any theoretical "distribution" amounts... The annual report does not mention anything about that except showing financial statements and holdings details.

Need help from IT pros.

I can't login to IBKR Trader workstation (TWS) using NTU campus internet. Firewall doesn't show/display any blocking messages. Has NTU block any ports needed by IBKR?



No such issue using my home's internet.

Already tried with latest, stable, and beta. All 3 versions won't connect...

An interesting chart, depicting the changing face of Europe's largest enterprise. How time has changed...



Source (no paywall): https://www.reuters.com/markets/europe/drug...any-2023-09-01/

Hi,

Can I check anyone has tried this method Bank Wire to fund their money from Malaysia to IBKR? I got a deal from HSBC Malaysia to convert ringgit to USD that's around 0.58 to 0.7% difference from google/XE rate. If I use Fintech eventual rate also around 0.5% and above. The TT charge is rm80 and the amount is more than 100k usd. But I have hear of stories bank wire cannot be done? Anyone have tried and can go through?

Maybe you mixed up the story? If I am not wrong, most of the concerns early on was that their USD bank wire is via a third-party (Wise) and not under their name. IBKR historically strongly discourage or even block such attempts as it has too much risk of being related to money laundering.

For standard bank wire, there's nothing to worry about if you are wiring from an account that is under your name (no joint-ownership) AFAIK. Just remember to set the notification and tag on the relevant IBKR info as instructed.

I checked with the bank and another bank. Both said not advisable because of the BNM regulation. Once you put investment then a lot of internal investigation. If you eg send to your own name account overseas then not much check. Yes my fear is the audit (troublesome) and also they will reject and return. I think I will just follow their advice, hsbc my to hsbc singapore then to IBKR even though all same name and I have no loan. Purpose is just to check those who have done it before and if troublesome. I remember someone saying only Maybank will work? I also don't know if it is IBKR who is rejecting.
My amount is quite big, I just sold off a property. rm30k a day takes too long.

...surely even bank can't beat spot rate + flat fee at such high amounts?)

As far as I know, the WHT deductions appear on my IBKR activity statement:



And previous info from our friend Gwynbleidd confirms this. You can read the posts from here onwards: https://forum.lowyat.net/index.php?showtopi...ost&p=107454178

Woah this I don't know. Upon further reading looks like no withholding is necessary in the first place.

https://www.ssga.com/library-content/produc...us-en-ssiit.pdf

Not sure if they apply the withholding due to ease of administration. You think can complaint?

Nothing to do with IBKR because the ruling is from IRS itself 🤦‍♀️ in order to prove that the holders are holding and refunded accordingly

I referred to Bogleheads Wiki on ETF Taxes, I didn't verify it though.



Furthermore, Irish domiciled ETF doesn't just pay 15% flat WHT, it pays 15% WHT for US stocks only. So meaning if your ETF holds non-US stock, you pay only WHT to other countries that apply.


Source: https://www.bogleheads.org/wiki/Nonresident..._domiciled_ETFs

Stated here clearly 🤦‍♀️ which is why ITIN is needed in order to prove as NRA identity to reclaim part of WHT

https://www.irs.gov/individuals/internation...specific-income

So it is not the broker fault 🤦‍♀️ but they following the law and providing clearly on it in order to prevent seizure from IRS

I think this is for US Bond ETF, doesn't happen to Irish Domiciled US Bond ETF right?

https://www.ssga.com/library-content/produc...eation-2023.pdf

According to above link's table, BIL is 99.67% tax exempted in Jul dividend distribution. If your deduction by IBKR during Jul match the expected %. Looking at its trend, it should progress to 100% tax exemption soon. That is the good news. If I understand what the document says correctly.....I am not so sure.

They would know 🤦‍♀️ because you need to submit W8 form as to prove your NRA tax status

https://www.irs.gov/individuals/internation...nra-withholding