Transfer/Withdrawal... | |
Service | Details |
Account Transfer Out- ACAT | $95.00 per full or partial account transferred to another financial institution via the ACAT system. |
DRS Transfer Out | $75.00 per stock, for transfer of account registration to transfer agent. |
DTC Transfer Out | $30.00 per position transferred to another financial institution. |
Overnight Check | $40.00 per mailing, via overnight courier, for $USD check withdrawals. $100 outside USA. (Add extra $10 for signature confirmation or Saturday delivery). |
Security Transfer Failure | $20.00 per failed request, for security transfer requests which are initiated but unable to be completed. |
Trust/Estate Dissolution | $100. Potential fee to distribute or withdraw securities or cash from a trust or estate account. Contact us for details. |
Wire Transfer | $30.00 per $USD transfer of funds to another financial institution in the USA via Federal Wire System ($75 outside the USA, via International SWIFT wire). |
Stop Payment of Check | $30.00 to place a "stop payment" on a check written off your brokerage account balance. |
Returned Checks/ACH | $40.00 for a check or ACH deposit returned/rejected for insufficient or uncollected funds, etc. |
Retirement/IRA... | |
Service | Details |
IRA Termination | $95.00 per IRA for the closing or full transfer of a retirement plan account. |
IRA Maintenance* | $55.00 per IRA per calendar year. Charged yearly, on or about Nov 29th.
*Refunded to existing customers whose IRA generated over $50 in commissions, or maintained an average cash balance over $15,000 during the past 12 months. Fee is applicable and non-refundable to IRAs terminations. |
Paper/Postage... | |
Service | Details |
Trade Confirmation* | $1.50 per trade for postal mailings within USA. $2.50 outside USA. *(Waived for electronic delivery). |
Monthly Statement* | $2.25 per postal mailing within USA. $4.25 outside USA. *(Waived for electronic delivery). |
Year End Tax Statements* | $3.00 per Form 1099 for domestic tax payers. $3 per Form 5498 for those who contributed to an IRA. $4.25 per Form 1042s for Foreign Person's U.S. Source Income Subject to Withholding. *(Waived for electronic delivery). |
Prospectus* | $2.50 plus applicable postage. *(Waived for electronic delivery). |
Duplicate copy of Statement | $5.00 per duplicate monthly statement from July 2019 and later. Prior to July 2019 is $10 per statement, and is on a best efforts basis. |
Stock Certificate Deposit | $10 per physical paper certificate deposit + pass-through costs from Transfer Agent (historically $30-$55). Contact us prior to submitting. |
Returned Mail Administration | $3 per piece of returned mail (i.e. monthly statment) with in USA, due to an invalid postal mailing address. $5 outside of USA. |
Foreign Stock/Option/Currency... | |
Service | Details |
Foreign Receive & Deliver | $75 to receive/deliver an OTC Foreign stock (5-letter symbol ending in F) from/to another broker. |
Reg.S GDR/ADR Foreign Custody | $.02-.05 per share, potential annual fee from transfer agent for record date Regulation S Global Depository Receipt (GDR/ADR) holders. |
Reg.S GDR/ADR Foreign Processing | Typically $.01-.03 per share charge, from transfer agent, for a dividend or distribution, with record date Reg. S Global Depository Receipt (GDR/ADR) holders. |
Non-DTC Foreign Custody | $4 per month, per foreign position. Transfer agent holding charge for foreign, non-DTC eligible stock. (5-letter symbol ending in F.) |
French/Italian GDR/ADR Tax | 0.3% of principal, for French Government tax of French company ADR or option contract purchases. 0.22% of principal, for Italian Government tax of Italian company ADR or option contract purchases. |
Currency Conversion | $15 per foreign currency conversion to $USD. |
Other... | |
Service | Details |
Regulation-T Extension | $25 to file extension for clients failing to pay for purchase by settlement date. |
Safe Keeping of Certificate | $2.00 per certificate, per month, to hold a non-negotiable paper stock certificate at clearing agent, until negotiable. |
Mandatory Reorganization | $15.00 per security issue. Reorganizations whereby an owner must participate, such as mergers, spin-offs, splits, etc. |
Voluntary Reorganization | $35.00 per security issue. Reorganizations whereby an owner elects to participate, such as tender offers, Dutch auctions, etc. Please note, while most issuers send notifications about pending reorganizations on a timely basis (whether electonically or postal mail), some may not. Trading Direct is not responsible for any missed, late, or non-notifications. |
Post Settle Trade Correction | $15.00 is added to commission amount, to modify an executed trade after settlement date (where possible). |
Transfer on Death change | $60 to open a TOD Account, convert an individual or joint account to 'Transfer on Death' status, add/remove beneficiaries, or otherwise modify a TOD registration. |
W-8BEN Validation | $60 to validate a newly submitted (udpated) W-8BEN. Fee applicable to those residing outside the USA. |
UBTI Tax Return Processing | $200 to file IRS form 990-T. Applicable only to retirement accounts with partnership securities generating at least $1000 of unrelated business taxable income. |
W-9 IRS Tax Payer ID Mismatch | $10. When an account holder's name and social security number which was provided on the new account application or W-9, does not match IRS records. |
1099 IRS B-Notice- Name SSN Failure | $100. An IRS B-Notice is an annual IRS notification to payers, when the recipients social security number which was provided, does not match IRS records. |
Free Riding Trade Removals | Any resultant loss from the removal of trades from an account due to a free riding violation, which was caused by improperly using unsettled funds. See Trading Rules for Cash Accounts for details. |
Sub-Penny Stock Positions over 1 million shares | $1, per 1 million shares, per month, to hold stocks valued under 1 cent per share. |
Non-marketable/Low Value Security Disposition | $10.95 per removal of security worth less than $10.95 in principal value. |
Short Sale Interest/Locate | Varies per short position. Also known as a Stock Loan Fee (STK LN FEE). See Interest Rates page for details. |
Cash Account Debit Interest | Interest may be charged on a debit balance in a cash account, post-settlement date. See Interest Rates page for details. |
Inactive Accounts | $60.00 per account, charged annually, to inactive accounts for the one-year period ending July 15th 2022. (Details below) |
Inactive Account Fee Details: An inactive account would meet the following criteria: • The account had no settled trades (subject to a commission charge) during the one-year period ending July 15th 2023. • The account had margin (debit) interest of less than $100 for the one-year period ending July 15th 2023. The following accounts are exempt from inactive account fees: • Accounts executing at least one trade subject to a commission charge, that settles during the one-year period ending July 15th 2023, exclusive of dividend reinvestment trades. • Accounts that generated at least $100 of margin (debit) interest for the one-year period ending July 15th 2023. • Individual retirement accounts (IRAs), and other qualified retirement plan accounts for which our clearing agent acts as custodian. • Accounts that maintained a net cash credit balance of at least $10,000 during the one-year period ending July 15th 2023. • New Accounts opened during the one-year period ending July 15th 2023. |
$60 annul fee charged at inception and upon annual anniversary*. (*Waived for accounts with an average credit balance exceeding $50,000 or an average debit balance exceeding $50,000).
For accounts owning stocks with insignificant value, a good faith deposit (GFD) of $60 is required, plus $20 for additional insignificant value positions. (i.e. own 3 stocks with insignificant value, GFD=$120). This is not a fee charged up front. Rather, it is money set aside in an account, which could be used to pay a future commission charge.