This week, I had to update my residential address on IBKR (from Portuguese address to Thai one), as I moved there end of 2024.
After a new due diligence from my IBKR account they just sent me this :
« Ordinarily, a 30% US withholding tax applies to US dividends, interest and other investment income paid to a non-US taxpayer. The withholding rate may be reduced if you are resident in a country that has a tax treaty with the United States. On the most recent tax form you submitted to us, you claimed the benefits of the US - Portugal income tax treaty. However, during a routine review of your account, we noticed you maintain an address in Thailand.
US tax rules prevent us from granting you a reduced rate of withholding under the US - Portugal income tax treaty unless you provide us with:
(i) a current proof of identity document from Portugal (such as a passport or driver’s license) and
(ii) a current proof of address document from Portugal (such as a bank statement) or
(iii) a reasonable explanation why you qualify for the tax treaty benefits »
Unfortunately I cannot provide any Thai TIN (as I moved recently and for now it’s not required as I dont have income from TH or bring into TH). I am not sure how this can be affect my IBKR investments regarding tax / WHT.
Actually :
- 95%+ of my lines on IBKR are WITH ETFs, all of them are listed in UK, so it should be still tax transparent ?
- I have 2 small lines, stock picking with US stocks, 15% WHT on dividends
- I have some remunerated cash (EUR / USD / GBP), but until now interest was paid from IBKR Ireland, so I had 15% WHT on the interest received (DTA Portugal- Ireland).
Someone here with TH address can tell me which WHT IBKR apply to your account?
After a new due diligence from my IBKR account they just sent me this :
« Ordinarily, a 30% US withholding tax applies to US dividends, interest and other investment income paid to a non-US taxpayer. The withholding rate may be reduced if you are resident in a country that has a tax treaty with the United States. On the most recent tax form you submitted to us, you claimed the benefits of the US - Portugal income tax treaty. However, during a routine review of your account, we noticed you maintain an address in Thailand.
US tax rules prevent us from granting you a reduced rate of withholding under the US - Portugal income tax treaty unless you provide us with:
(i) a current proof of identity document from Portugal (such as a passport or driver’s license) and
(ii) a current proof of address document from Portugal (such as a bank statement) or
(iii) a reasonable explanation why you qualify for the tax treaty benefits »
Unfortunately I cannot provide any Thai TIN (as I moved recently and for now it’s not required as I dont have income from TH or bring into TH). I am not sure how this can be affect my IBKR investments regarding tax / WHT.
Actually :
- 95%+ of my lines on IBKR are WITH ETFs, all of them are listed in UK, so it should be still tax transparent ?
- I have 2 small lines, stock picking with US stocks, 15% WHT on dividends
- I have some remunerated cash (EUR / USD / GBP), but until now interest was paid from IBKR Ireland, so I had 15% WHT on the interest received (DTA Portugal- Ireland).
Someone here with TH address can tell me which WHT IBKR apply to your account?
