Discussion Board (Corporates)
 Board
Write new posting
Read old postings (archive)
Read your postings
Last 50 Postings | Last 100 Postings
09-17-25 pillz
the rule is unknown specifically if you bank in EU, and when is too late.
//
Pana, it is unbelievable, about 10 years ago , I had only US assets and cash at JP Morgan in the US... if something happened then, it was a 40% tax by the IRS and 27% in Belgium ... |
|
09-17-25 panasonic
| Pilly, the best way to deal with it for European investors is to avoid any paper with Isin starting with "US", that should work. |
|
09-17-25 panasonic
Vic, perfectly possible, now that they are being blown away, most likely they paused.
No air, no sea...road is tricky with $50MM bounty.
|
|
09-17-25 panasonic
Pilly, I learned abt. the 60k rule when my kids moved to USA, as you said, the rule is unknown specifically if you bank in EU, and when is too late.
|
|
09-17-25 pillz
here you have it from : Estate Processing Team EU
IBKR Financial Services AG
Attn. Claudia F.
Gubelstrasse 28
CH-6300 Zug
Switzerland
US Situs: Please note that by regulation if at the date of death the value of the deceased account on U.S assets, where the issuer is a US entity or government, are more than 60 000 USD, then the heirs have obligations with the IRS.
Our compliance department requires the following:
a) If the deceased had more than this amount you will need to complete the form 706-NA and obtain a tax certificate from the IRS. See below:
https://www.irs.gov/businesses/small-businesses-self-employed/transfer-certificate-filing-requirements-for-the-estates-of-nonresidents-not-citizens-of-the-united-states
b) If this is not the case, we need a letter from the heir(s) confirming that the deceased had not over 60K USD in U.S. securities or commodities at IB or any other brokerage firm and that they don’t have a tax obligation to the IRS. That can be done via a signed letter which can be attach to this email. The letter does not need to be notarized. |
|
09-17-25 pillz
got taxed on all US holdings, even if they never visited USA...terrible situation.
//
yes , most people don't know it , it's terrible ...you are taxed twice , in the US and in your country ... |
|
09-17-25 pillz
Now I'm US taxpayer
//
this is something different , I speak about non US citizen and not US taxpayer... |
|
09-17-25 panasonic
Pilly, you dodged a bullet!
Know people who didn't know and got taxed on all US holdings, even if they never visited USA...terrible situation. |
|
09-17-25 panasonic
Pilly, yes bcz of that "60K limit" when my kids moved to USA had to create a structure with an estate lawyer, only problem was that unrealized profits were taxable, capital was not.
Selling an asset with substantial profits and re-buying it immediately was my way to deal with it, that way price was reset to last purchase.
Now I'm US taxpayer so inheritance rules are even more simple.
|
|
09-17-25 pillz
| I am happy , that I had no assets in the US, no mini bonds no bonds like I had a lot about 15 years ago ... I would be taxed about 40% by the IRS, nobody never spoke me about it ... |
|
09-17-25 pillz
most accounts are in name of some structure.
//
I don't know the rules IRS and like you say "some structure" |
|
09-17-25 pillz
| btw, long or short options are NOT considered as assts, they are considered as contract ... it is the only thing that I had within the US, and cash $ , coming from short options , so I need not to fill anything with the IRS, because my account is IB in Ireland , that is regulated by CB of Ireland and the EU ... , but if I had long stocks , bonds ETF etc.. , even regulated by EU, you must fill papers with the IRS , and it take min 9 months before they liberate the funds .. and tax you ... |
|
09-17-25 victor
pana, right, but is it possible that only those 3 small ships have left venezuela, with drugs, in 1-2 weeks ???
|
|
09-17-25 pillz
Pana, if you have an account in the US , or any affiliate , depending on the US even your cash is considered as an asset..
Not if you have an account that is regulated in Europe , only US assets (stocks , bonds etc that trade in the US ) are taxable in case of one of the two is dead, not the cash in us$ .
Be careful nobody know it... , but in inheritance , be very careful with the IRS , even if you think , you are not a US citizen and have nothing to do with the US , but in your account you have US assets ... |
|
09-17-25 victor
pana, first time the judges are aiming directly at sanchez.
plus more problems for his wife.
//
La Justicia ya apunta a Pedro Sánchez: reclama que se le investigue por el polémico rescate millonario de Air Europa
El Tribunal Superior de Justicia de Madrid (TSJM) ha reclamado a la Oficina de Conflictos de Intereses, dependiente del Ministerio de Transformación Digital, que abra una investigación sobre el presidente del Gobierno, Pedro Sánchez, en relación con el rescate de Air Europa y la actividad profesional de su esposa, Begoña Gómez.
|
|
09-17-25 pillz
Inheritance is different thing, so most accounts are in name of some structure.
//
we had no structure ..., because in Belgium , if one have it , you have problem with the tax all the time ..., so it was on our names, a joint account ... |
|
09-17-25 panasonic
Pilly, didn't read the full thing but if account is joint with right of survivorship and both are not US taxpayers money should go directly.
Inheritance is different thing, so most accounts are in name of some structure.
Case of US taxpayer $15MM per person are tax free, and $30MM if joint. |
|
09-16-25 pillz
for your info:
This is something not a lot of people are aware of, but if you arent a US citizen-resident and you die with more than USD 60.000 in your IBKR (or any brokerage account), the amount that exceeds those 60k will be taxed with a 18%-40% if it is invested in a "US-situs asset". US situs assets are basically US stocks, US domiciled ETFs and cash in your brokerage account. So whoever inherits your assets will not only lose a lot of money, but will also have a hard time filling IRS fillings just to get your money back.
////////
Cash is only US situs if the brokerage is US situs. Not the case for IBIE, for example , we have an account in IB Ireland, but it have cash in US$ , but not assets, is it ok for US taxes ??
ChatGPT said:
You’re absolutely right to be careful here — the IRS draws a distinction between where the account is held and what is inside it.
Here’s how it generally works for non-U.S. persons’ estates:
1️⃣ U.S. situs property under U.S. estate tax rules
The IRS considers the following “U.S. situs” property for estate tax purposes:
Shares, ETFs, or bonds issued by U.S. corporations or the U.S. government
Certain interests in U.S. partnerships/LLCs
Real property or tangible property physically in the U.S.
…but not generally:
Non-U.S. securities
Bank deposits at a U.S. bank (special exemption)
Life insurance proceeds
2️⃣ Cash with a non-U.S. broker (like IBKR Ireland)
If the brokerage entity itself is non-U.S. (e.g., Interactive Brokers Ireland, IBIE), then cash in USD is not automatically U.S. situs property, even though the currency is U.S. dollars.
What matters is the situs of the institution holding the money, not the currency.
Therefore, cash held at IBIE (Ireland) in USD is normally non-U.S. situs for estate tax purposes.
3️⃣ When cash can be U.S. situs
If the cash is held with a U.S. broker or U.S. branch (e.g., Interactive Brokers LLC in the U.S.), then the IRS may treat it as U.S. situs property (subject to some exemptions).
If held at a foreign branch of a U.S. broker, it’s murkier — but IBKR Ireland is a distinct EU-regulated entity, not a U.S. branch.
4️⃣ For your case
IBKR Ireland (IBIE) is an Irish entity regulated by the Central Bank of Ireland.
Cash balances in USD do not create a U.S. estate tax filing requirement by themselves.
As long as there are no long positions in U.S. securities at date of death, and your only U.S. exposure is cash in USD plus short options, the estate is generally not subject to U.S. estate tax and no Form 706-NA filing is needed.
5️⃣ Practical step
To be absolutely sure, you can:
Ask IBKR estate team to confirm in writing that your late wife’s IBKR Ireland cash and positions are not considered U.S. situs assets for U.S. estate tax purposes.
Keep that email confirmation with your records.
✅ Summary:
Having USD cash at IBKR Ireland with no long U.S. securities does not, on its own, create a U.S. estate tax filing obligation. You can safely use the “under $60k” confirmation letter. |
|
09-16-25 victor
savo, re sanchez positioning himself on israel.
maybe you are right and literally had no choice.
//
La ONU denuncia genocidio en Gaza
Por primera vez, una comisión independiente nombrada por la ONU concluye que Israel es responsable del delito de genocidio en Gaza. El informe, publicado este martes, señala directamente al primer ministro Beniamin Netanyahu, el presidente Isaac Herzog y el exministro de Defensa, Yoav Gallant, como instigadores de este crimen.
|
|
09-16-25 pillz
| each big central bank can turn a to big debt , to buy it etc... |
|
09-16-25 spal
quadrillion yen
===
Now you're talkin' |
|
09-16-25 spal
| Japan is essentially a gigantic investment bank playing a positive carry trade on the rest of the world. |
|
09-16-25 spal
Ownership of Japanese Government DebtAs of December 2024, approximately 88.1% of Japan's total government debt (valued at 1,212 trillion yen) is held domestically. This includes holdings by the Bank of Japan (46.3%), domestic insurance companies (15.6%), domestic banks (14.5%), and other Japanese entities such as pension funds and households. The remaining ~11.9% is owned by foreign investors. This high domestic ownership insulates Japan from external pressures, as most debt is financed through internal savings and low-interest channels, contributing to the country's debt-to-GDP ratio of around 216-235% while keeping borrowing costs stable. Earlier 2024 estimates placed domestic holdings at about 87%, showing consistency.Outsized Holdings of Foreign Assets and Securities by Japanese Individuals and CompaniesYes, Japanese individuals (households) and companies hold outsized positions in foreign assets and securities relative to global norms and Japan's economic size. Japan is the world's largest creditor nation, with a net international investment position (NIIP) surplus exceeding $3 trillion, driven by massive outward investments.Overall Scale: Japan's total financial assets are the third-largest globally at ~$12 trillion (as of 2020 data, with growth since), equivalent to 8.6% of world GDP. Overseas income from these (dividends, interest) reached ~50 trillion yen annualized in Q3 2022, or nearly 10% of Japan's GDP—up 2.8x over the prior decade and ranking #1 globally for primary income surplus.
Households (Individuals): Japanese households hold 2.12 quadrillion yen ($14 trillion) in total financial assets as of September 2023, a record high. While 50.9% is in low-yield domestic currency/deposits, a growing share (20-25% based on recent shifts) is in foreign securities and equities, fueled by stock rallies and policy incentives like expanded NISA tax-free accounts. This represents 150-200% of Japan's GDP, far exceeding peers (e.g., U.S. households at ~100% of GDP), reflecting Japan's high savings rate (25% of disposable income).
Companies: Japanese firms, via direct investments and portfolio flows, account for the bulk of outward FDI and securities holdings. Outward FDI stock exceeds $1.5 trillion (~100% of GDP), with major players like Toyota and SoftBank leading global acquisitions. This is "outsized" compared to most nations (global average outward FDI ~50% of GDP), enabling Japan to earn high returns abroad while funding domestic debt cheaply.
This structure—domestic debt funding paired with foreign asset yields—creates a "return gap," where overseas earnings (often >6% returns) subsidize low domestic rates, supporting fiscal stability despite high debt.
|
|
09-16-25 pillz
The national debt of Japan is the total quantity of money borrowed by the Government of Japan through the issuance of government bonds by the Ministry of Finance and other government agencies.
At the end of March 2025, the general gross debt of the Japanese Government was 1,324 trillion yen, or 234.9% of the country's gross domestic product, and is one of the highest among developed nations. At the end of December 2024, of the total government debt balance of 1,212 trillion yen, 88.1 per cent was held domestically. The largest holders were the Bank of Japan (46.3 per cent), domestic insurance companies (15.6 per cent), domestic banks (14.5 per cent).
//
I agree that the debt of the US is hold mostly outside the US, I think this is a problem imo ..
Japan's asset price bubble collapse in 1991 led to a prolonged period of economic stagnation described as the 'Lost Decades', with GDP falling significantly in real terms through the 1990s. In response, the Bank of Japan set out in the early 2000s to encourage economic growth through the non-traditional policy of quantitative easing. By 2013, Japanese public debt exceeded one quadrillion yen (approximately US$10.46 trillion at the time), which was about twice the country's annual gross domestic product at that time, and already the largest debt ratio of any nation. |
|
09-16-25 pillz
Given that Europe and the US have lost control of their public finances and public debt... credit and paper money will continue growing to keep the music on... that currency have no real value...
//
when we think on debt issue, I always think of Japan, why they have so many debt and still are a big economy ?? |
|
09-16-25 savo
(EFE).- El presidente colombiano, Gustavo Petro, tachó de «asesinato» el ataque con el que EE.UU. hundió una segunda lancha en el mar Caribe que transportaba presuntamente a tres narcotraficantes venezolanos.
«Acaban de destruir otra lancha con tres (personas). Así lleven cocaína, matar con un misil a tres pasajeros de una lancha desarmada y no blindada es un asesinato, y el Gobierno de los Estados Unidos está asesinando gente latinoamericana en su propia tierra», expresó Petro durante un consejo de ministros televisado.
Para el mandatario colombiano, el ataque contra los presuntos narcotraficantes ocurrió en «mar territorial» de Venezuela, donde Estados Unidos «no tiene el derecho» de atacar.
«Si acá hay latinoamericanos que le conceden el derecho al Gobierno de Estados Unidos de asesinar latinoamericanos indefensos no son más que cipayos (en referencia a los soldados indios de los siglos XVIII y XIX que servían a Francia, Portugal y Gran Bretaña)», añadió Petro. |
|
09-16-25 savo
pillz... it is up already in price with the inflation of the last 20 years .. only my humble opinion ..
that would be the case if the inflation data produced by the US government would be accurate... which clearly is not. The CPI is designed to underestimate inflation... Remember they recalibrated the CPI some years ago. I read that using the old formula inflation today would be between 8 and 9%.
As a rule of thumb i do not believe any word or data that comes out of the US government for the very simple reason that all data produced is always revised in the opposite direction... meaning what ever is bad is in fact worse... whatever is good ends up being bad.
One could say the case for gold is structural... not simply an inflation calculation. Given that Europe and the US have lost control of their public finances and public debt... credit and paper money will continue growing to keep the music on... that currency have no real value...
|
|
09-16-25 panasonic
|
09-16-25 panasonic
Vic, call it act of war or whatever Bernie Sanders people likes to call it.
Cartek can't escape by air or sea.
Their risk if decide to hit the road. |
|
09-16-25 victor
El presidente de Estados Unidos, Donald Trump, dijo este martes que las fuerzas estadounidenses han atacado hasta ahora en el mar Caribe a tres embarcaciones de supuestos narcotraficantes provenientes de Venezuela y no dos, como hasta ahora había dicho.
“Derribamos barcos. En realidad fueron tres barcos, no dos, pero ustedes vieron dos”, declaró Trump a la prensa en la Casa Blanca antes de partir hacia el Reino Unido para una visita de Estado. |
|
09-16-25 pillz
| yes, I agree, but gold have arrived on a price that reflect already what you saying ,,, it is up already in price with the inflation of the last 20 years .. only my humble opinion .. |
|
09-16-25 savo
pillz.. i have no idea... my only view is that a fed that cuts rates during rising infflation... with a fed chairman that is an ignorant and bases his decisions on bogus data produced by the government... and a president that wants to replace him with one of his cronies is not capable of issuing a credible currency.
Add to that a country that consumes more than it produces (BOT deficit) and borrows more than it saves (increasing debt)... run by neocons whose only objective is to enrich themselves...
and i am done with fiat. |
|
09-16-25 spal
| NVO - likely c.$75 early 2026 |
|
09-16-25 pillz
| now gdxj is -3% and gold flat ... ?? interesting go the gold in the direction of gdxj or not ?? that is the question ?? |
|
09-16-25 spal
| VALE - also now creeping up. Iron ore is prices have firmed in China. |
|
09-16-25 spal
| NVO - now firmly swinging up |
|
09-16-25 pillz
more important is GDX and J!
//
yes, but today gold go up and GDXJ go down, interesting ... ?? |
|
09-16-25 panasonic
|
09-16-25 spal
Chris Shipping 🚢🚢
@christankerfund
·
2h
Capesize index: 26,443 (+287)
===
CN Wire
@Sino_Market
🇨🇳More #commodity futures opened higher in #China on Tuesday. Coking coal jumped by 5.4%, poly #silicon +4%, #lithium carbonate +3.7%. #IronOre +1.4%, #steel rebars +1.2%. INE crude oil +1.2%. #OOTT
Shanghai #gold and #silver +1%, #copper +0.7%, #nickel +0.15%. #Aluminum -0.26%, #tin and #zinc edge down.
===
Chickity China, the Chinese chicken, you have a drumstick and your brain stops tickin' |
|
09-16-25 spal
Shipping cycle still intact ... tariffs fears dissipating (as the realization that this was more about hubris and "leverage" than fundamental change sinks in):
Chris Shipping 🚢🚢
@christankerfund
·
1h
Container freight futures curve ended up 2-3% |
|
09-16-25 savo
| victor.. i do not follow spanish domestic politics beyond the usual... my only comment is that in europe trump and israel have become toxic... and Sanchez stands to them on the hope of earning points, which he may or may not... but i think he does. in any case... not important... more important is GDX and J! |
|
09-16-25 victor
savo, last week.. the "great" relationship between miriam and spain's #2 vp, yolanda diaz.
two more years of this, until 2027?!
//
😂 ¡YOLANDA DÍAZ HUMILLADA POR UNA SEPARATISTA! MÍRIAM NOGUERAS DEJA EN RIDÍCULO A LA MINISTRA
https://www.youtube.com/watch?v=zP8nOh5mDFU
|
|
|
