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I keep getting told I may be subject to extra fees?


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Recently I saw I was getting:

 

Quote
Complete a form now to avoid unnecessary charges on US equities
Dear X

As you haven't completed a W-8BEN or W-9 form, your current positions on US shares are still subject to withholding tax of up to 30% on any dividend adjustments, along with potential admin charges of US$50 for CFD positions. You’ll also be prevented from opening any new share trading positions on US stocks.

This is because of new US regulations that came in on 1 January 2017, which treat 'dividend-equivalent payments' on US equity derivatives – such as CFDs – as US-source dividend income.

As far as I'm aware none of the companies I bought shares in are US, what do I do?

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Hi @Itsbecauseofthem

You can complete the W8BEN form online from My IG>Settings>Dealing US stocks. Although it would not apply to you if you are not dealing US stocks, it would be worth completing the form for if you ever decided to go that route. It is really quick to complete. 

All the best, 

Anda

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