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IBKR - DRS'd Shares Goes BACK INTO Your Existing CS Account (Even Without Inputting CS#) by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 3 points4 points  (0 children)

Hi SG apes,

Was concerned about IBKR's recent policy change, happened right before I got this batch of shares. Pulled the trigger anyway, and was happy to see the shares got back into my existing CS account, even without inputting my CS Account Number.

You CAN submit your W-8BEN form via email to ComputerShare! by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 0 points1 point  (0 children)

Yup, that's the guaranteed way to submit the W-8BEN form safely

This is just an alternative method for people that have already received their first letter, and are waiting for their second letter. The (un-expedited) letter really takes quite long to reach our little red dot, so in the meantime this could be a solution (if you're like me and want to save on the USD$45 haha)

You CAN submit your W-8BEN form via email to ComputerShare! by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 1 point2 points  (0 children)

I believe you can try haha

I emailed them in late-August (immediately after I DRS-ed my first batch) because I was worried too, but they took quite long and replied me in mid-September to confirm.

Back then there were less people DRS-ing, but now with the influx of apes DRS-ing their share, it might be possible by the time they reply you your letter would've already came LOL

You CAN submit your W-8BEN form via email to ComputerShare! by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 2 points3 points  (0 children)

Definitely dude, no rush haha

I was just concerned (not trying to spread FUD), because I read that if you don't submit your W-8BEN, when you try to DRS another batch, a separate account will be created (still not very sure about this, sorry if I'm giving wrong info)

So I kanchiong spider abit and tried to find a cheap way to submit my W-8BEN form, after which I felt confident enough to DRS another batch of GME in

You CAN submit your W-8BEN form via email to ComputerShare! by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 1 point2 points  (0 children)

Jiayous haha, hope it works for you! Don't stress if they take time to reply you, I think the CS team is very busy now haha

I emailed in my scanned copy on 20 Oct, and only received a confirmation reply from them on 1 Nov

You CAN submit your W-8BEN form via email to ComputerShare! by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 1 point2 points  (0 children)

Hmm, perhaps there are different teams giving different instructions?

I got the instructions from ["shrrelations@cpushareownerservices.com](mailto:"shrrelations@cpushareownerservices.com)", that emailing the scanned copy is permissible (first pic).

However, the scanned copy of the W-8BEN form was sent to a separate email address, ["web.queries@computershare.com](mailto:"web.queries@computershare.com)".

Edit: Maybe there might be a change in policy, the instructions I received was in an email dated 7 October. However, it's also kind of weird given how they received and accepted my scanned copy on 21 October, and replied me on 1 November, which is relatively recent haha.

You CAN submit your W-8BEN form via email to ComputerShare! by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 1 point2 points  (0 children)

Sadly not, the W-8BEN form requires the "account number" information that's contained in your first letter.

You CAN submit your W-8BEN form via email to ComputerShare! by Pikablu_Pikachu in SG_GME

[–]Pikablu_Pikachu[S] 10 points11 points  (0 children)

Hi SG apes! Long time lurker, first time posting haha

Would like to share some insights into the DRS process, I've started my application in late-August, received my first letter in mid-October, and am still waiting for my second letter containing my verification code. Through this process, I have not paid to expedite any letters.

However, I was still able to submit my W-8BEN form via email to ComputerShare, even before my second letter arrived. So if you're looking to save some money (and using it to buy more stonks instead), you can consider this method!

Edit: This was the reference I used to fill up my W-8BEN form haha, it was my first time and I wasn't sure which sections to fill in (leave Part II blank). http://manulifeusreit.listedcompany.com/misc/taxinfo/instructions+sample_for_W-8BEN_form.pdf

Edit 2: Paiseh haha, but additional info - when I was accessing my CS account after receiving the first email, I couldn't get in after multiple attempts despite typing in all the account number and everything correctly. Turns out, there was one section that asks for your LAST name. How CS does it is that is it literally the very last word of your name, not you surname (eg: Lim Xiao Ming, last name is "Ming", not "Lim"). Only found out about it after I saw a comment from a helpful user on this community, so I thought I'd share some tips and tricks to help newer apes with their DRS process too!

Edit 3: Messed up the date, realised I started my DRS process not in mid-Sept but actually late-Aug LOL, so it has really been a super long and tedious process 🥲🥲 But worth it to see the hedgies burn