IBKR US witholding tax

[daibushi]

Hi Everyone,

First year using US ETFs on IBRK and, although there are a few articles about this online like the poor swiss one ( How To File Your Taxes With Swiss And Foreign Securities In 2024 - The Poor Swiss ) , I feel dumb dumbs and I'm not quite sure how to claim back the 15% US witholding tax? I'm a swiss citizen and resident.

Has anyone already done this? Any step by step advice would be awesome

Thank you!

 

[christhomas2]

@daibushi Easy peasy, just put the positions in form DA1, that is all. Details depend on Kanton, most will first charge tax and then pay you back according to several factors. Usually you get the money in October, but i guess this depends on the Kanton too.

BTW: the 15% is the maximum you get back, if your tax rate in Switzerland is lower you get back only that. Double tax treaty says you always pay the higher rate...

 

[aseyesee]

@christhomas2 Add the positions but don't forget to add the dividends and taxes paid for each one of them!

 

[daibushi]

@christhomas2 Thank you for your help!
So basically, I just declare it to the Swiss authorities and the return (if any) is automatically applied to my tax filing?

 

[christhomas2]

@daibushi Correct. If Kanton ZH you even will be asked if you want to put the position into DA1.

 

[smta276603]

@daibushi In my experience in Zurich, they will refund you the withholding almost immediately. The tax bill comes much later.

 

[evietheturtle]

@daibushi First make sure that you actually paid a withholding tax in the US. E.g. do you even own VT or other US ETFs that pay dividends?

 

[littleangelic]

@daibushi Why not invest into UCITS versions?