UpdateWithholdingStatement
https://[domain]/ws/eca/update
-
Update the WithholdingStatement for Existing Accounts
Who is this applicable for?
-
Non-Disclosed- QI
What is the WithholdingStatement update Needed for?
-
The US Treasury and IRS require IBKR to request new tax identification form from non-US Persons every 3 years.
-
Re-certification of this form ensures that account holder will be treated as non-US person for tax purposes.
-
Example: A sub-account with a withholding statement that is expiring on 12/31/20XX (example 2023) will be deemed non-compliant starting on 1/1/20XX (example 2024) and will be subject to 30% withholding on US interest and US dividends (including PIL) if the Withholding Statement is not renewed before expiration.
-
Processing Time
-
1-2 business days to be reviewed and processed by our Compliance team.
Validations
Error will be triggered if any of the following conditions are met:
-
Request is submitted for ND-NonQI, FA, or FD sub account.
-
Effective date is missing or is not the current date (ie. Future or Past Date).
Request Parameters
|
Name |
Type |
Description |
|---|---|---|
|
reference_account_id |
String |
IBKR account ID of the advisor/broker client account which W8Ben is updated for. |
|
effective_date |
YYYY-MM-DD |
Effective date of withholding statement. Current or future date. |
|
cert_w_8IMY |
true false |
Confirm that consistent with the IRS, Form W-8IMY you provided, you certify you are qualified intermediary and have not assumed primary withholding responsibilities under Chapter 3 and 4 and have not assumed primary 1099 reporting and backup withholding responsibility on this account. You have assumed Form 1042 reporting to your customer This account is part of withholding statement for your Form W-8IMY. We wil request a W9 from those customers who you indicate are tax residents. |
|
fatca_compliant_type |
FATCA_COMPLIANT NON_CONSENTING_US_ACCOUNT NON_COOPERATIVE_ACCOUNT |
Indicate if the Account Holder is FATCA compliant account |
|
treaty_country |
If the account holder qualifies for treaty benefits under US income tax treaty, please identify treaty.
|
|
|
US_income_tax |
true false |
Indicate if the owner of this account is a US Income Tax Resident. |
XSD
<xsd:element name="UpdateWithholdingStatement" type="UpdateWithholdingStatement"
minOccurs="0" maxOccurs="unbounded" />
<xsd:complexType name="UpdateWithholdingStatement">
<xsd:annotation>
<xsd:documentation>
ND-QI Clients to update WithholdingStatement.
</xsd:documentation>
</xsd:annotation>
<xsd:attribute name="reference_account_id" type="xsd:string"
use="required">
<xsd:annotation>
<xsd:documentation>
Account Id of Broker Client account for which
WithholdingStatement will be updated.
</xsd:documentation>
</xsd:annotation>
</xsd:attribute>
<xsd:attribute name="fatca_compliant_type" type="FatcaCompliantEnum"
use="required">
<xsd:annotation>
<xsd:documentation>
FATCA Compliant type
</xsd:documentation>
</xsd:annotation>
</xsd:attribute>
<xsd:attribute name="US_income_tax" type="xsd:boolean"
use="optional"/>
<xsd:attribute name="treaty_country" type="xsd:string"
use="optional">
<xsd:annotation>
<xsd:documentation>
US tax treaty country of the account holder.
Preferably use ISO codes for countries instead of names.
</xsd:documentation>
</xsd:annotation>
</xsd:attribute>
<xsd:attribute name="cert_w_8IMY" type="xsd:boolean"
use="required"/>
<xsd:attribute name="effective_date" type="xsd:date"
use="optional">
<xsd:annotation>
<xsd:documentation>
Effective date of withholding statement.
Required format - YYYY-MM-DD
</xsd:documentation>
</xsd:annotation>
</xsd:attribute>
</xsd:complexType>Sample
<?xml version="1.0" encoding="UTF-8" standalone="yes" ?>
<AcctMgmtRequests xmlns="http://www.interactivebrokers.com/schemas/IBCust_import">
<UpdateWithholdingStatement reference_account_id="U11111111" treaty_country="CHN" fatca_compliant_type="FATCA_COMPLIANT" effective_date="2021-07-22" cert_w_8IMY="true" US_income_tax="true" />
</AcctMgmtRequests>|
Name |
Type |
Description |
|---|---|---|
|
Execution_Date |
YYYY/MM/DD HH:MM:SS |
Date/Time which the file was processed by IBKR. |
|
Process_File |
FirmName_YYYY-MM-DD_######.xml |
File name of the request file. |
|
Client |
FirmName |
Name of the Counterparty |
|
Client_Master_Acct |
String |
Master account number |
| UpdateWithholdingStatement | String | Status of the request |
| reference_account_id | String | IBKR account ID of the advisor/broker client account which the request is being submitted for |
| request_status |
PROCESSED ERROR PENDING |
Status of the request |
| message | String | Status of the request. |
| request_id | Non-negative integer | Unique ID which IBKR assigns to the request. The ID can be used to query status request at a later time using //getAmRequestStatus endpoint |
| message | String | Includes details on the status of the request IF status=”PENDING" or "PROCESSED " |
| Pending_Tasks | <Tasks> | Includes pending tasks associated with the info change request IF status=”PENDING" |
| Errors | String | Includes error message if status=”ERROR” |
Sample
<?xml version='1.0' encoding='UTF-8'?>
<Process>
<Execution ECA_XML_Schema_Version="15-Nov-2018">
<Execution_Date>2020/02/20 00:44:38</Execution_Date>
<Process_File>TesterFA_2020-02-20_124438885_761126.xml</Process_File>
<Client>TesterFA</Client>
<Client_Master_Acct>F1234567</Client_Master_Acct>
</Execution>
<UpdateWithholdingStatement reference_account_id="U2088007" request_status="PROCESSED" message="Withholding Statement Processed" request_id="50813"/>
</Process>
<?xml version='1.0' encoding='UTF-8'?>
<Process>
<Execution ECA_XML_Schema_Version="15-Nov-2018">
<Execution_Date>2020/02/20 00:44:38</Execution_Date>
<Process_File>TesterFA_2020-02-20_124438885_761126.xml</Process_File>
<Client>TesterFA</Client>
<Client_Master_Acct>F1234567</Client_Master_Acct>
</Execution>
<UpdateWithholdingStatement reference_account_id="U2088007" request_status="ERROR" request_id="50813">
<Error>Error Message Here</Error>
</UpdateWithholdingStatement>
</Process>
