I used to check how IEP was doing on T212, but I can’t find it anymore. Could it be delisted? I can’t find any information on it being removed from this platform.
That’s because it’s one of the securities affected by the IRS’ new Internal Revenue Code Section 1446(f). Here’s where you can learn more
So in short, IEP will not be returning to the platform anytime soon?
Thank you for the quick solution to my question!
I’m afraid not. Yet, if anything changes we’ll be sure to update you asap.
Because trading212 believe that they can make investment decisions for you you and believe that they can just breach a contract with you.
They have no right to sell shares without your consent and it is up to the Investor to decide whether they consider us 10% withholding tax acceptable or not acceptable.
I received no warning about this nor did I received the email
I find it extremely concerning when a platform is messing around with my Investment portfolio without my consent.
- They absolutely can close positions for you.
- There has been sufficient information, and the chatter about 1446f isn’t new.
- If you indeed did not receive any email, this is worthwhile the support’s attention.
- The issue isn’t from the 10% sale tax (although it is a big one, it would be enforced at IBKR’s level). I believe the issue relates to the new filings requirements from the IRS. The new reform would force them (and in turn, you), to file every year taxes with the IRS threw a new tax form. Due to the nature of the omnibus account, I believe this poses to be a legal and logistical issue.
- To be fair, while I was myself heavily invested in MLPs, most failed valuation test once the 10% sale tax was included.