Anyone has experience transferring positions internally on IBKR?

My sibling is below 25 so I was thinking of transferring my current IB positions to her so as to only pay 3USD for maintenance fees. Once she turns 25, I will transfer the positions back to my name and by then I'll most likely have a net value greater than 100kUSD so I don't have to pay the maintence fees. Does anyone have any experience in doing this? From my research it seems that there are no fees involved in transferring positions.

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Justin Mok

21 Sep 2020

Bachelor of Business Management at Singapore Management University

Hi there!

I have yet to transfer internally, but I did transfer my positions into IBKR from my other brokerage accounts. I believe that is much more complex than internal transfers since there are two different legal entities to deal with. You're right, there wasn't any fees involved for the transfer.

I reckon you could do it via an order form on their web portal platform. Mine took about 2 weeks because it was very slow on my previous broker's end. But IBKR was quite speedy in terms of processing it.

I think the only downside is, if you rely on IBKR to track your unrealized gains/portfolio performance, once you transfer over under your sibling's name, it will be resetted. Meaning, if on your existing account shows a 10% unrealized gain, transferring it over to your sibling account will not show that 10% because it treats it as if you bought the stock at the price when it was recognised in the account upon transfer. This is trivial if you manually track your investment cash flows/unrealized profits elsewhere like on your own excel sheet or something.

Would recommend you to do it since you can save on that 7USD, and I don't think it takes a lot of effort to do it.

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