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SPA3 for NASDAQ / Re: W-8BEN-E form for USA Trades
« Last post by Dave McCulloch on 11/12/2018, 10:19:27 AM »
For individual investors (non US citizens) needing to complete a W-8BEN form, here is an example of how to complete it from Macquarie.
As I understand it, ASIC requires all SMSFs and financial institutions that trade OTC derivatives  to have an LEI. To find out exactly what it is, ask Dr Google. I think this is part of an expanding security environment. Entities that trade in overseas ETFs (as distinct from just Aussie shares) trigger such a requirement. See also the URL below for ASIC views.
My stockbroker, who notified me of this requirement, is offering me an LEI for about $350 a year, payable annually. I have been in correspondence with Gary about this and he has offered me some information about less expensive alternatives.
Before proceeding to pay for the registration I would like to hear about whether other SMSF holders have had experience of this, what solutions they have selected and what recommendations they might offer.
SPA3 Investor / Re: Buy after Portfolio Lighten
« Last post by Graeme Reardon on 26/11/2018, 11:53:30 AM »
Thanks Dave,

That to me makes the most sense too, which was good as I went ahead on the open this morning from that perspective  :biggrin:
I'll add this also to my trading plan for future reference.

Appreciate the reply.

SPA3 Investor / Re: Buy after Portfolio Lighten
« Last post by Dave McCulloch on 26/11/2018, 11:08:31 AM »
Hi Graeme,

You pose an interesting question.

It sounds as though you're using SPA3 Investor and have made some decisions around the portfolio actions should a certain level of draw down be experienced. This is something that is included as an example in the SWS Equal weighted public portfolio plans.

That would mean reducing it in size as per your rules by 1/3 (66.67%). The example that is provided in the EW public portfolio plan suggests that the new position sizing and that of any new positions would be maintained at that new level until the portfolio regains its pre 7.5% draw down level.

I hope that makes sense Graeme?



SPA3 Investor / Buy after Portfolio Lighten
« Last post by Graeme Reardon on 25/11/2018, 10:44:50 PM »
Hi All,

Last week, due to hitting 7.5% drawdown, per my trading plan (based largely off the Public Portfolio ASX Equal Weighted Plan), I lightened each share / ETF by 33%.

However, I now have a buy signal for NAB tomorrow, and my question is, because I haven't yet reached a new peak, should a new position (such as tomorrows) be based on the 'full' position size, or 66.67% of the full position size until a new peak is met? I seem to not have this in my plan, so thought I'd check to see what the public plan would do in such an instance.

General Discussion / Chit Chat / Re: Saxo Bank incommunicado
« Last post by Gary Stone on 21/11/2018, 11:27:46 AM »

Try this email while you wait:

Perhaps entitle it URGENT - LOGIN PROBLEM

General Discussion / Chit Chat / Saxo Bank incommunicado
« Last post by Angelika Weber on 21/11/2018, 10:11:13 AM »
Thanks for holding, you are No 1.  Well I have now been No 1 on the line for the past 1 1/2 hours with Saxo and still waiting.

It all started when I was asked to changed my password on SaxoTraderGo.  Now I can't get in.  Tried the 'Forgot Password' link, entered all the correct details including my mobile phone to get a Code.  So far no luck in receiving a code to get a new password. 

Has anyone else had this problem?  Does anyone out there know another Saxo phone no for support?
SPA3 for NASDAQ / Re: W-8BEN-E form for USA Trades
« Last post by Campbell Sinclair on 21/11/2018, 09:17:14 AM »
Hi Rhonda,

We are not experts in this area, but as part of experiences we have seen from our customers over time and some employees using the form we have some information to share. Please look over it all and make up your own decisions, looking for tax advice if you feel it necessary.

The GIIN is part of FACTA of which Australians / SMSFs are exempt as per the ATO:

Here is info about the GIIN itself if you are curious:

Regarding the IRS – as Australia has a lawful agreement with the USA, the 30% withholding FirstTrade are talking about does not apply to SMSFs. It is likely to be generic text, as for people from most countires outside the US it would apply. The link above from the ATO talks about how the NRA withholding of 30% changes due to our agreement with the USA.

There is some further discussion here that you may wish to review around FACTA which may be useful:

The solution here should be to correctly identify on  the W-8BEN-E form your correct entity type (‘Chapter 4 Status – FACTA status’) but then also provide the correct info from there on in that establishes your link as Australian.

Here is a guide from Macquarie that I usually point customers to on how to fill out the form, but if you need further help it would be best to talk with a tax adviser who is experienced with Aus – US relationships.
SPA3 for NASDAQ / W-8BEN-E form for USA Trades
« Last post by Rhonda on 20/11/2018, 04:14:59 PM »
We trade the NASDAQ markets through Firstrade for our SMSF. 

Firstrade has written to us advising: 
"we have been notified by our clearing firm Apex that the IRS requires us to have GIINs on file for accounts who select the chapter 4 status of Non-reporting IGA FFI and Reporting Model 1 FFI on the W-8BEN-Entity form. Please note that your account will be subject to the maximum NRA withholding of 30% if we don't have a GIIN on file before November 30, 2018. If you currently don't have a GIIN, please reach out to the IRS and apply for one. Once you obtained the GIIN, please resubmit the W-8BEN-E form with complete information and GIIN on line 9a."

Have we selected the wrong item to Question 5 Chapter 4 Status (that is we have ticked Nonreporting IGA FFI)?

Has anyone filled out this W-8BEN-E form for their Super Fund? and if so have you approached the IRS to get a GIIN?

Any help would be greatly appreciated,


« Last post by Campbell Sinclair on 08/11/2018, 04:45:15 PM »
Hi Everyone,

I have updated the Saxo Capital Markets MVR file.

For those that wish to check these details in future, here is the web page:, or,

Also see this post for instructions on making your own if you wish to update the provided file.,2685.msg13062.html#msg13062

New MVR file is attached.

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