IBKR Tax Withhold 30%!

Taxes
1

Dear Colleagues

I need your help from swiss or in Switzerland living colleagues!

I started on IBKR and I am in shock when I saw that 30% tax is withhold from USD Cash interest as well as ETF Dividends.

Am I screwed already and can’t get it back by Swiss Tax declaration?

Shouldnt it only be 15% tax withhold instead of 30%?

What do I need to do?

Thanks for your help!

Stefan

2

File your W8-BEN, ask support if they can refund the extra withholding.

5 Likes
3

I checked it under Tax forms. Out Swiss residency as well as AHV Numbers are listed.

Is there another form to fill out? Apart from the one in the Profile?

4

I checked again and the W-8BEN was correctly submitted in 2024.

Has this ever happenend that it was not correctly applied? Didnt find any mistake on my end.

5

Maybe ask support, they’re here for that

2 Likes
6

Interest on cash should have 0 WHT, dividends should have 15%

Call them or send them an email. They will fix it. Everything will be fine

2 Likes
7

If you did fill out W-8BEN, contact support. My first dividend payout had 30% deducted as well, they reimbursed me the 15% within a few days after I contacted them.

1 Like
8

Awesome, I contacted support.

Is WHT on USD Cash Interest really 0?

9

Yes, as per Double Tax Agreement US-CH.

1 Like
10

Let me share the outcome. I needed to sign again the W8-BEN and I got my money back within a few days.

7 Likes