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Form 1042 2017

in ours so let's get started this morning I fully expect that you'll have a lot of questions that I want to encourage them I'll try to get to all of them if I don't please feel free to email me my email is right here on the front cover of these slides with your questions and I will try to come back to you or have someone on my staff come back to you most likely you'll get me so we'll go forward from there this is an area that um we as US people and I'm based in the US and Connecticut spend a lot of time on for you overseas and it's not an easy area in our tax code I'm going to start with that premise it's one that especially since 9/11 and has become very important to the government here and some other events that have happened since then have focused their efforts on this area so it's an area that not only for Americans but for non-americans is a huge huge area in within our tax code so let's move onwards and get started off the front page first of all we have the standard disclaimer this is for those of you who are familiar with contest there's always a disclaimer about who can win this is our disclaimer this webinar is meant to be informational it's not for any specific purpose in filing your personal taxes for that purpose that you will really need to consult your tax advisor but we're trying to at least get you to the point you can ask good questions okay so let's talk a minute and I want to spend some time on FAFSA and um this is the hot topic in this area in the US and around the world and for those of you who are overseas you've probably heard about this heard about the fact that um a lot of us brokers don't want to take foreign people a lot of foreign brokers don't want to take us people that happen to live overseas and there's huge huge compliance issues with this area for us for banks and for any financial institution that could possibly have a u.s. citizen as an account holder and unfortunately although the laws targeted at u.s. citizens it flopped over and basically impacted everybody in the world so everybody talks about this is facta so and obviously that's an acronym and it stands for foreign account Tax Compliance Act so I just laid it out right there and so now you know what it means but I'm sure if you went up to somebody and said foreign account Tax Compliance Act they'd look at you blankly but if you said factor they probably know what you were talking about so it's one of those things that nobody calls it by its right name so that's just a quick thought about that so let's talk about the basics here and when I say the basics we are literally skimming the surface of this law the regulations alone for this law are almost 400 pages long in addition there's commentary there's bulletins there's other things that add to this law that the IRS and other people have mainly the IRS have put out some have come from Treasury that add up to probably another 400 pages so to say that we could even possibly talk about this rationally in an hour and it's only one part of our topic today um would be stupid I mean it would just not even be comfortable on my part so let's just touch the surface of what happened here why we have this law and a little history because it's important to understand where this came from and why it impacts everybody unless you think it just impacts you because you're an ID account holder it will impact you because you hold accounts at banks in your home country because what's happened is and you'll see this a little bit later in a slide everybody's kind of piled on to what is a US law so first of all it was attempt by our Congress to capture tax revenue from what I probably think is a small number of US citizens who have invested assets abroad to avoid US taxation they've put money in the Swiss banks and in the other havens secret to see havens for money banking havens and didn't want to pay income tax on it here in the US and this was what Congress was going after to collect the tax that was due to them but what it did was take it on global significance because once everybody saw what Congress was doing in other countries they said Oh we'd like to catch our tax cheat to that have underreported income and not paying taxes in their resident country so they came up with these information and reports sharing agreements and they're those are called model agreements and there's basically two types there's model one and model to model one is most but not all of the EU for example Switzerland is model 2 and some other countries and model 2 is Switzerland and most of the rest of the world but there's some exceptions and basically it says whatever we get reported to us will report to you so it's a big big sharing information and basically it's try to trap everybody who's trying to avoid any taxes on anything so that's what the thing but I like to talk about fact and this is an example and I'm going to be honest I stole this example but I thought it was a great example of how fact it came to be and what it builds on and what happened here so I'm going to openly admit that I stole this and it's like a house and um where fact is the roof of the house the house foundation and the structure is really created by something that's been an our tax law for many many many years and by many years more than I've been alive and that's a lot so let's talk about the foundation first because obviously can't build a house until you pour the foundation and that's chapter 61 of the Internal Revenue Code IRC is an Internal Revenue Code and basically it says um that they that foreign people or so to taxation and um it just it it's been in the law for a long time and it will stay in the law for a long time it basically says that we're going to report foreign source income to the IRS for u.s. people and this is the core of our tax returns of the US or to form 1099 and that's the core of the foundation so every US person gives all of their income reported to the IRS that's always been true but a lot of people escaped it by putting their money overseas where they had no reporting requirement the second thing is the structure of the house and it's section 441 1441 and that says if a non-us person gets us source income we're going to withhold on it and so that some US tax gets paid on that income now you're all familiar with that if you get a US source dividend for example a dividend from IBM or Ford or something like that and I'm just using some big classic companies as an example we would hold a portion of that dividend as US tax it's either thirty percent if you live in a treaty country that's most commonly fifteen percent of that payment but it could be a different amount because different treaties do vary this has been in place again for a very long time it became a high-level focus early in the 2000s for the IRS to collect this primarily because of UBS not collecting it for their customers so that's what brought the focus around of section 1441 section 1441 is where your reports that you actually get from IB come from this is the core of where those come from section 1441 0 now has a added chapter and most of the withholding is in Chapter three it had it back to added a chapter four chapter four and that's the roof and there's our roof over it and the roof says that starting July 1 and they laid the start date a little bit on this every US account needs to be reported either to the home country or to the IRS and it's a very broad law it's that so once everybody saw that law though everybody signed on so if you happen to live in the UK and UK as a model one country we're going to report to the UK our UK customers that's what that Agreement says so now we're information sharing around the world so you can see for brokers and banks it's added a whole level of complication that we've never had before so that's just kind of a little brief and bi brief it's really brief summary of what factor does let's move on to our main topic and we talked about the foundation but chapter 61 really only concerns their US citizens and green card holders and residents now somehow got my house out of order here let's talk about who's a non-us person and I'm talking about this in the negative on purpose because it's much easier to define who isn't paying us tax and who is so a non-us person is not a u.s. citizen now if you happen to be a u.s. dual citizen you are a US citizen first even if you've never lived in the US and you're a citizen of your second country or your second citizenship second so for tax purposes if you're a dual citizen your first a US citizen even if you've never lived here so that's why it's a little bit easier to define this in the negative you're not a green card holder now what do I mean by a green card holder for those of you are not familiar with this term a green card holder is someone who has a permanent us residency card and could apply for citizenship and then the third class is not a legal residence of the US you could be resident in the US and not have a green card if you're here on a long term work visa or some other reason all right move on who ends a u.s. person a US citizen regardless of the residence I talked about dual citizens four in the last slide but let's talk about US citizens my favorite saying about this that makes it goober clear in my opinion is if I move to the moon because I'm a US citizen I would still be subject to US tax it wouldn't matter where I moved in the world I would still need to file a u.s. tax return for any income that I would have so that's the easiest way to explain this moon dwellers if they're US citizens will have to file a u.s. tax return green card holders works exactly the same as citizens they Trump any other citizenship you may have you still need to file in the area at with the US now that doesn't mean you don't need to file with your home country but it also means that you have to file with the US and then finally US legal residents there's a few exceptions to this one and if you happen to come here to work for another government and an embassy if you're an employee of the UN or the World Bank and students teachers and researchers with what they call an f1 visa which has a five year time limit so if you come over here to go to school and get an f1 visa you are not still considered a US person even though you may be resident in the US okay so let's talk about the structure let's go back to our middle of our house section 1441 this is the little structure and talk about what's covered and then what's reportable what's w-2 withholding tax one to treaties apply and then the forms we issue so let's start and I think if I've got these slides right I'm going to be good um so no existence out of order but why you at tax reporting it's subject to withholding tax and we want to tell you what your we've withheld for you when we get give it to you so what you have source in it's any payment received from revenue generated in the US so that would be interest or dividends payments payments in lieu of dividends or interest rents if you happen to own property here in the US if you receive rent it's considered us source income stock won't fees are considered us source income because they're paid by our US subsidiary and business operating income for example if you were an investor in a small business here or partnership or something where the income flowed directly to the owners that would be considered us source income so why is there us withholding tax and this is an important decision withholding tax is not an income tax income taxes is based on your total income whereas withholding tax is weight based on a pain and the past excusing the basic premise is the people earning u.s. income should pay tax on US income in the US now the u.s. is not alone in this there's other countries that do this the Netherlands Canada if I have an interest in a Netherlands company or a Canadian company those countries withhold taxes from my payments so it shouldn't be looked at as the u.s. being evil empire that it sometimes seems like and can be it's more this is our way of collecting a tax on income earned here this is true it like I said in other countries it's true in the Netherlands Canada some things in Germany things like that so there's some things like so we're not the only ones the question always comes is do I need to file a tax return in the US because I've gotten these forms and I've had this withholding and if you just have investment income say from your IB account you don't have to file a new F it's all done and using those forms you may be able to take a credit in your home country for the tax you paid to the US that varies by country by country and obviously we're not going to go through that today because everybody lives in different places um but if you have rental income or business operating income so if you have real property here in the USA a vacation home in Florida at Disneyworld or something you will have a filing obligation in the US because you have operating a real income from the business type operation then you do have a filing obligation but if you just have investment income interest dividends payments and lieu stock loan fees just investment accounts in the u.s. you do not have to file a tax return a a lot of terms will get asked what um where happens to the tax and when we sold it we remit it on to the US government to the Internal Revenue Service weekly um so we've got a question we've talked about some of the things that dividends interest some things that have withholding on it and one of the questions is if they're withholding tax on options when we sell options and receive a premium and no there is not there are no withholding taxes on capital transactions so if you buy and sell stock there's no withholding likewise if you buy and sell options there's no withholding however if you are part of our stock loan program or something they lend out your stock you get a dividend or a payment in lieu there would be withholding okay um so what types are of income or substance holding tax we've talked a little bit about the investment income there's a couple of other things and we're going to talk a little bit more detail about these things business operating income rental income and partnership income so this is basically income from business type investments here in the US our subject withholding tax they're subject to withholding tax at a flat rate of thirty nine point six month in the portfolio or investment income that we're talking about um so this is what we're talking about here so what we're not going to spend any time on this because this is it we don't really generate that income for you if you happen to have it though this is the case where you would need to file in the US so let's talk about the investments dividends payments in lieu Realty stock loan payments short-term capital gain distributions for mutual funds or distributions of interest from mutual funds these things are all subject to withholding tax on the dividends payments in lieu realties stock loan payments and interest dividend are long been subject to withholding the state statutory rate is thirty percent if you happen to live in a treaty country which is most of the EU Canada China Japan then you have a lower tax rate most of those are fifteen percent there are some China for example is ten so it varies country to country most or fifteen percent withholding but the statutory rate is 30 percent now let's talk about the last two at more length short-term capital gain distributions for mutual funds and distribution of interest dividends for mutual funds this is something in our tax code if they could make it more confusing they would have to stand on their heads and twhirl for many many years short-term capital gain distributions and distributions from of interest were not subject to withholding tax this came in in 2000 it was a specific exemption that was designed to expire in ten years it expired in 2010 they renewed it for two years so it expired again at the end of 2012 they renewed it for a year for 13 then they renewed it retroactively Li for 14 on December 20th of 2014 so we had to refund all the money and but it was only it was retroactive for only 2014 so withholding on these types of payments are batted back in place starting one 115 so if you own these types of investments you may see that you've got withholding then it comes all back to you then you've got withhold and it comes all back to you well it's not because we're being fickle it's because our Congress is fickle and they can't make up their minds so let's talk about what's not company to withholding character and I touched on this a minute ago where capital gains and things investment interest is reportable so you get a form for it that says how much you have source interest you receive but not subject to withholding it doesn't have withholding on it long-term capital gain distributions for mutual funds unlike the shorter ones they're specifically excluded gains and losses on securities trading this includes options it includes indexes and includes futures any of those are not subject to withholding all right okay so I talked a little bit why did I get a refund in last year's tax in my account I talked about the short-term capital gains and the law changing that was one of the reasons we issued quite a few refunds in your account towards the end of the year but the other thing that happens is often companies recategorize payments after the fact so a payment may come to us in June or July as a dividend and we was hold on it but later in the year when the company has finished its book it may say this portion of this dividend maybe half of it was dividend and this portion the other half might have been return of capital will return of capital is arm not subject to withholding and um so this is one of the reasons why we might refund money all right so we're getting a lot of questions about estate tax um and um I'm not really going to that's really not the focus of our webinar today if I have time at the end um I will talk a little bit about the u.s. estate tax and how it impacts anyone who holds us security um but I don't want to take away from what we have to cover right at the moment so I'm not ignoring you I just not quite ready to talk about it we'll talk about it at the end if we have time today so let's talk about the withholding rate I've mentioned these before the statutory rate is thirty percent and then we have treaty percent the treaty rates fifteen percent however it could be ten it could be twenty five there's different for different countries okay someone has two very pertinent questions how about distributions from ETF rather than mutual funds ETFs are a funny animal there are different kinds of entities some of them are actually trusts and some of them are not some of them are like publicly traded partnerships it depends a lot on the ETF but if it's classified as a dividend then yes it's subject to withholding or if it's a short term capital gain right at the moment yes it's subject to withholding arm so and the question is original gain for companies domiciled in the British Virgin Islands in the Cayman Islands count as operating income they're not US companies even they've changed their domiciles so they wouldn't be us source income but you asked specifically about capital gain and the answer is no because capital gain wouldn't be subject to withholding it is that way if an ETF only holds form Sox which is the next question up here and I'm going to take a minute and try to get some of these cleared up and generates only foreign dividends there won't be us source withholding on them but they're very well could be other countries withholding on so for example if an ETF holds royal dutch/shell as an example it's an oil ETF which would be a common holding for them if royal dutch/shell pays a dividend there's Netherlands withholding on it and that would be the withholding you would see in that ETF those dividends are not paid to IB and we don't withhold the Netherlands tax they're paid to its net of tax so we get them a net of tax so um so let's move on I think come on there it is so let's spend a minute talking about the treaty rates how do you qualify to get a treaty rate um you have to live in the country that has a tax treaty with the u.s. that's something a little bit out of your control and then the other thing is you have to complete the form w8 ven or the applicable w8 that applies for you under facto these forms have all changed when the account is opened and then these forms expire every three years so when you get a message in your account management that says your w8 then is expiring you need to refill it out or else you will cease to be eligible for your treaty rate you will go to 30 percent withholding at the end of the year during which you got that email so just be aware that when we ask for that we're asking for it for a reason and it can hurt you if you want so let's talk about form 1040 2's that you got and unfortunately it doesn't show up great on the screen I think if you're on a full screen mode we can you can see it a little bit better we're going to talk about each of these boxes a little bit and we'll be going back and forth to this slide or if you fortunately print it out your 1040 two S's for your um this webinar then you can talk about it but let's talk about the box number one first it's the income code and there are several income codes and here's a little list most commonly you will see the ones in red from IB interest paid by you it's public and divorce general which would be um if you owned you a sconce this would not be so to withholding it would be subject to reporting but not withholding 29s deposit interest so if you had credit balance interest paid into your account that would be one of them substitute payments of interest that's payments in lieu of interest oh six obviously is one of the biggest ones it's dividends paid by US corporations thirty four again is common it's substitute payments for dividends if you're part of our stock won't program there's some other substitute payments that occur and fifty-four other income so let's go back we're going to talk now about box two which is the gross income that's only us source income so if you're looking at the income for say dividends in your account overall and you own stocks from around the world and only own two or three US stocks only the US stocks would be reported here only the US stocks so don't get confused by that it's not going to really tie to your statement if you own stocks from around the world um so here we are so we so let's move to this these two new boxes and I'm going to talk about these two boxes together once that's chapter three and one says chapter four and I'm going to see if I can get the little point pointer and point to those if I can grab it there it is and so here's chapter 3 and here's chapter four so and they each have an exemption code and they each have a tax rate all right so chapter three is our traditional withholding where you could 30% or eligible for treaty rate so chapter 4 is the new factor withholding although the form step it for 2014 the law was delayed so there really is no chapter for withholding for 2014 for in all these cases even though these boxes particularly for a and for B will be filled out for you the top box will not be checked because that's not the type of withholding you've had all right I think I have a slide that talks about the exemption codes let's talk about that let's talk about the exemption codes basically this is a way of telling the IRS that these cut this type of income was not was reportable such as investment interest but exempt from withholding and then I've given you some of the common codes it says oh to exempt under the Internal Revenue Code um that would be something like short-term capital gains from mutual funds it's exempt under the code as it stands right now it's exempt under a tax treaty different countries have different treaties and some income for example stock won't income is exempt under some tax treaties our portfolio interest which would be your credit balance interest or your interest on u.s. bonds those are exempt under the tax code okay um let's go on and I'm going to read let's talk about boxes seven eight nine and ten and I'm going to go back to the form because the form is useful to look at here if I can get it to go back come on there it is give me a second here there's our form so we're going to talk about seven eight ten and eleven okay so seven is the federal tax that ID has withheld from your account that would be either your fifteen or your thirty percent or whatever your treaty rate would be that's the US tax but we've paid in on your behalf eight is tax withheld by other agents now what does that mean well if you're an IV canada customer your tax is going to be in that box because IB Canada as a separate entity from IB IB does the withholding for them but it's actually their liability so IB acts as an agent for IB Canada we also at times have us securities that are in clearing houses that withhold on the payments before they get to us notably this happens also in Canada but a few other places around the world too and we may have dividend payments that come to us net of the u.s. tax that tax would show in this box 10 is the total amount withheld that you could credit on your return if you're able to and box 11 is informational so for example if you owned one of those mutual funds and we refunded money to you that mount would be reported here okay so let's now I think we're going to talk for a minute obviously 13 a 13 B 13 C all relate to who the withholding agent is that would be in Interactive Brokers case always Interactive Brokers case even for Canada if your Canadian customers also it the Canadian information would appear over here in these boxes over here 15 16 17 your name and address are down here in 14 in the 14 series of boxes let's go back and move onwards to our slides I think we're 29 no for 30 okay we talked about 7 8 9 10 and 11 9 is for amounts that is assumed by the withholding agent would be taxed that we might have paid on your behalf we don't have that for IB but there's reasons that you might have that reported from other entities we've talked about for a for B being factor related not interesting today we've talked about Canada because Canada is a separate entity from IB itself if you're Canadian you know this you get your statements and your information from Interactive Brokers Canada um box is 15 and 16 as you might remember they were over on the left-hand side of the form a right hand side of the form I'm sorry and kind of mixed up today it's early yet um that's where that information is and then what do you do if the wrong amount has been withheld um there's limits to what refunding we can do once the form is issue as IB the IRS has put limits on this because although we could refund the money to you we're unable to get it back from the United States government so if that becomes the problem for us because obviously we have literally thousands of customers were right if we refunded a lot of money to a lot of different people and then we're unable to get it back from the US government we'd be in trouble it wouldn't be a good way to run the business however you can get it back to yourself so I don't want to say this is something you should be doing if everything worked out right you don't need to do this but if you've got something wrong for example you failed to fill out your w8 bed and we would tell that 30% rather than the treaty rate this is the most common example of this and you you really would like to get that 15% back that we withheld you can file with the US government for a refund of that you literally have to file a tax return a 1040 non-resident or NR return but the US government will refund that money to you so where did the disclosures and I'm going to take a few minutes here for some questions that have come up and maybe spend a moment or two on US estate taxes and I suspect there might be some more questions out there if we go back to our form 1040 to s and I'm going to bring it up here on the screen so that we can talk directly to it if we have to so because I know that's where most of the questions that come - there we go um so um question is a about the 1042 s that you've received it really is about being informative and it you only get one if there's withholding from the account um for example and it does depend on the type of income you have for most account holders at Interactive Brokers this form is just an informative form if you happen to live in a treaty country where you can claim credits for taxes paid to other countries for example as a US citizen I can claim credit against my US tax for taxes I've paid to other countries I know you can do the same in Canada and some other countries you may use this form to claim that credit that's common usage for this form however the rest of the time it's really just an informative form if you got income we withheld it at the correct weight right either 30 percent or your treaty rate there's nothing more to do with this form it's just there because we need to submit it we don't want to submit something that we're not showing you and we're required to give it to you also but that's why this is there so there's a lot of reasons why we have income codes up here in box one we talked about income codes that were reportable but not withhold a ball and interest is the most common one in certain countries stock loan fees would be reportable but not with holdable but other countries it is subject to tax so it depends on your residency country for that so but for the most part this is informative now let me talk and I'm not going to pretend that I am an expert on the estate tax in the u.s. it's not my area of expertise um so I firmly advise you if you're interested in US estate tax to consult with you or personal tax advisor in your home country u.s. estate tax does apply to any US holding of a non-us person so if you hold stock in a US company it can be publicly traded stock you would be subject to estate tax here in the US if your values were over a certain amount and frankly off the top of my head I do not know that amount um this would be true no matter where you held the u.s. security so for example if you are residents in France you hold your securities in France you would still upon death be subject to US taxes estate taxes if you own a US security the reach of the US estate tax rules are very broad and very um I guess I touch everyone no matter if they have any interest in any kind of us thing um someone's asked about the UK cash balances to be honest with you I don't know and there's possibly two different answers to that question coming towards the u.s. estate tax we are currently transitioning some of our UK balances to being held in the UK so it kind of depends on which type of account you have and where you are in that process so if that's a little bit different difficult question for me to ask but I would suspect that they do not count or they will not count Li because they're moving those to those to the UK now um the biggest thing that I need to share with all of you probably is that in the near future and maybe not on your 3-year cycle you will be again asked to complete your w8 ban your tax documentation that supports your account this is part of the factor rulings basically it requires us to read occupant every account that we have in our system that is non-us it happens over a period of about the next three years and the individuals are basically last of the group the businesses come first they had changed these forms significantly for individuals the form hasn't really changed much but if you happen to have a business or a partnership account they've gone from basically a two-page form to an 11-page form I don't know how anybody in arts can think that that's not more complicated to say that they've made it a complicated process for businesses would be an understatement on my part it's an extremely extremely confusing form in my opinion anyway so I want everybody to have a heads up on that to know that's coming when you're asked to account management to recompete your w8 then or appropriate w8 form please do so as soon as possible it will help you it will help us so I want to encourage you with that um can I answer any other questions and I move my chat up to read BC um so someone's asked about an 80/20 company with most revenue from overseas and I be withheld at 30% do I have to file from my own research we try to capture all the 80/20 and only was hold on the 20% if it's something that we missed um it's possible we didn't know because sometimes that happens it also could be reported to us as a u.s. source dividend even though the company made the 80/20 that always are the dividends 80/20 but I would recommend that you do file for your own thing um um if there's any other questions we're back to the EF ETF I see someone to ask for Nia ETF that holds you to US stocks the ETF would withhold on those US stock dividends before we ever got paid them and remit that to the IRS and that we talked a bit about taxes withheld by other agents that might be one of the things that gets reported in there so if there's no more questions I think mary has a poll if I'm not missing it um I I see there's a few more chat questions and when we're done with the poll in a couple of seconds here I will try to go back to those so I encourage you to particularly look at number two for additional topics we'd love to have your input about topics because we actually just don't know what you're all interested in so it helps us developing the webinars to have your suggestions and have your input because although we may think something's interesting it may not be interesting to you and likewise something we think is just plain vanilla might be very interesting to you so your input in box 2 here is extremely important I mean you've wrapped up the poll and we're going to go back to chat so I'm going to look at these um okay so someone's ads if they are non-resident alien and we are the withholding tix arm it asks about filing all the different copies of this form I'm you should never have to really file any of these forms except maybe in your home country to claim a credit or if you happen to have over withholding that you file with the IRS and then the I believe it's copy see that goes to the IRS um so um that's the first thing now the second thing is is that someone says that you received a form 1065 and I'm assuming you need a form 1065 k1 from Magellan and don't know why this popped up this would pop up if you owned an ETF that was a trust or an ETF that was a partnership there Capitol things are or their dividends aren't really dividends a return of capital and those items on that k1 actually make up the income that would have to be declared so there should be withholding on that form although I can't see what you got there should be so hopefully there is and it's um where you would do that and and there's probably instructions for non-us holders with that and I would suggest you start with that because each one of these works a little bit differently and I don't want to give you a blanket answer that could possibly be wrong um someone that they would like to know where to find this form um where do I need to spend it I'm going to guess that you mean the 1040 NR which is available on irs.gov there's also a publication that's very useful and um that's um I think publication 590 but if you go non-us resident taxes it will come up on the IRS website and the question has come up where do you find your 1040 2s all of our 1040 two S's are posted online under reports under tax forms and then by year that's where you find so in the account management under reports under tax forms by year armed and then it asked that the income from loaning securities reported to the IRS is it reported to the Revenue Services in the home country depends which home country you're in the US revenue information shares with some home countries directly Canada is the biggest one we have a big information sharing agreement with Canada that's done by the US government not by ID so that's the biggest place that the answer is yes in other cases the answer depends on where you live a little bit and under fact some of it will be reported most of that does in fact none of it kicks in until reporting for 2015 so none of it would be your 2014 income it would be 2015 income so it's it's something that's coming in some countries depends on the agreement we have with them and everyone's a little bit different a model one country may not ask for the same things as model one country a from Waddle comes one country B so um the answer is is maybe sort of kind of depends where you live now um okay someone's asked about selling an ETF again that would be a capital transaction not subject to withholding okay so that's it any more questions before we wrap this up Mary I think we're good I think we've got all the questions and so Nance the one thank you for a great event today and what I will be doing is just compiling this webinar and I will send out a recording link to everyone let's see here I think one more just came in Nancy oh and I've lost my chat how did I do this okay hang on just one second I can read it to you if you like okay perfect is it possible to include all the years since I opened my account because I never made this form before the answer is that online you should be I don't know how old your account is the answer is online I but we have posted the last three years she so you will be able to see 14 13 and 12 if you contact customer service of the general customer service number which unfortunately I do not know off the top of my head the men may be Mary is going to take it and tell you what it is you should be able to get back on to the very beginning of your account if it's older than those three years online you know what I'll do is I'll actually share my screen for a second and I'll bring up the Interactive Brokers website it'll just pop up in a second okay good and then if you go to help in context you can see right here it says contact us so just it everyone knows where they can find that if they do you want to call in get customer service so if you need something older than three years then you can call them but otherwise three years are posted in account management under reports and under tax forms so you should be able to pull up the last three years without a problem so there's one more what is a free and easy way to e-file 1040 and are come for DNR is not eligible for a filing so the answer is you can't that's that's the honest answer you can't I think what the end of questions Nancy perfect okay I just want to thank you very much and I also want to thank everybody who attended today's event okay thank you all Thank You Nancy have a great day guys haha