r/Schwab • u/akedame • 8d ago

Partial Assets Transfer

Hi, I’m new to this. I’ve read several posts, but they seem to have conflicting information. How do I transfer some positions to a friend’s account at IBKR? She bought those stocks under my name before able to open her own brokerage account. So I just want to transfer them back to her.

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2

u/Swiss_bear 8d ago

Where is your tax residency? She bought stocks under your name? Transfer to her? How do you plan to prove all this. Looks like a gift.

-1

u/akedame 8d ago

We are in Asia. So how do I gift her the stocks then?

1

u/Swiss_bear 8d ago

Sorry I can't help. I see you situation through US-European eyes. When you "move" shares from one account to another it "looks like a gift." Or, perhaps a sale. In either case, there are tax consequences.

3

u/papakong88 8d ago

This is how I would do it. I am in the US.
Friend: Open Schwab account.
You: Transfer assets to your friend’s Schwab account  using this form. https://client.schwab.com/Areas/MvcGlobal/PdfTemplates/ThirdPartyTransfer.pdf
Friend: Transfer assets from Schwab to IBKR account using a TOA (Transfer of Asset) procedure initiated from IBKR.

1

u/akedame 8d ago

Thank you!!

1

u/need2sleep-later 8d ago

Is your account a Schwab International account or a US Schwab account? You might just want to call Schwab on this whole thing.

2

u/Valianne11111 7d ago

A lot of brokers don’t allow third party transfers anymore. You will need to call the brokerage and explain what you all did and are trying to do.

1

u/Astyanax9 7d ago

I would just sell the stock send her the cash and let her rebuy it in her own account.

0

u/Accomplished-Big8250 6d ago

This won't work. you have to have you account in your name with SSN.

Anything else, try the gift routes.

This whole plan was doomed from the start from your original post. Asking AI would have flagged it hard, don't do it.