I have a holding of VTS and VEU (ASX listed, US Domiciled ETFs) on Superhero Invest (No-CHESS Custodian broker) and am looking to move them to a CHESS sponsored broker. To sell them without paying US tax I need to have filled out a W8-Ben tax form but Superhero customer support have informed me they don't do that since they are a custodian and will only do that for trading on the US market. Does this mean I will have to pay 30% tax to the US? Has anyone successfully submitted a W8-Ben form for custodian brokers for ASX listed US-domicled stocks?
Custodian Brokers (Superhero) and US Tax When Selling US Domiciled Stocks (VTS, VEU) on The ASX
DOGGYWOWWOW on 21/08/2023 - 11:13
Comments
They have a $150 portfolio transfer fee.
I hold VTS and VEU through interactive brokers(custodial brokers) and I have a w8ben form logged with them. If I didn’t, the withholding tax on VTS and VEU dividends would be 30% rather than 15%.
Not sure if I am missing something, but why do you need to sell in order to transfer shares from a custodial broker to a CHESS-sponsored broker?