International Account FAQ
Account Opening Questions
• Who can open an international account?
Currently only citizens mainland China or Taiwan who are physically residing in these
regions are eligible to open a Scottrade international account. If you are in the U.S. on a
temporary basis or a tourist, you might be eligible to open international account depending
on the length of your stay and your visa type, please contact Asia-Pacific Service Center to
determine your eligibilities.
• I am a U.S. resident; can I open a joint account with my relatives in mainland China
or Taiwan?
No, only citizens of China or Taiwan who are physically residing in these regions are eligible
to open an international account.
• How do I apply for an international account?
1. Complete forms and prepare documents:
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Non-U.S. Person Brokerage Account Application (signed and dated within 90 days)
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Proof of identity documents: two Preferred Documents, one of which must be a copy
of a valid passport or photo ID
i) If the address on the Preferred Documents differs from the one on the Brokerage
Account Application, you must submit an alternative document that includes your current
address.
ii) If you submit only one Preferred Document, you must submit two additional
Alternative Documents. The address on at least one of the two alternative documents
should match the address on the Brokerage Account Application.
2. Submit documents and complete account opening process
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Please fax or email scanned documents to Asia-Pacific Service Center.
After your documents are complete and reviewed, we will open your account and
inform you of your account number.
You must submit electronic W-8BEN form after your first log into account. Your
account open process won’t be completed until your W-8BEN form successfully
being processed.
3. Funding your account
Newly opened account must be funded within 1 month. Minimum required deposit:
$500 for Cash Account and $2000 for Margin Account. Click here for funding
instructions.
• What is the minimum deposit required to open an international account?
The minimum initial deposit for a cash account is $500 or fully paid securities; the
minimum initial deposit for a margin account is $2,000 or fully paid securities.
• What types of international accounts are offered by Scottrade?
Scottrade currently offers individual accounts and joint accounts for non-U.S.residents,
including cash or margin services. Other types of account such as Corporate Account
are not available at this time.
• How do I transfer accounts from other U.S. brokerage firms to Scottrade?
You can transfer cash and securities from other U.S. brokerage firms to your Scottrade
account by submitting the “Account Transfer Form” along with a copy of your most recent
monthly statement. Scottrade will initiate the transfer and assets will be deposited into your
account once the transfer is completed. You do not need to contact the other brokerage
firm during the process. Time needed to complete the account transfer may vary by
different contra firms, it can often take from 1 weeks to up to 4 weeks. (Please note that
Mutual
Funds cannot be transferred into Scottrade international accounts).
Scottrade can reimburse account transfer fees up to $100 charged by another broker if
the transferred assets have a value of $10,000 or more. You can claim this offer by
submitting the “Account Transfer Reimbursement Request” form and a statement
providing proof of imposed transfer fees. Any fees reimbursed will be credited into your
account within 30 days after receiving your reimbursement request. Currently this
promotion doesn’t have expiration date. Scottrade reserves the right to terminate this offer
at any time without prior notice at its sole discretion.
Electronic W-8BEN Questions
• What is Electronic W-8BEN Form?
This form is used by non-U.S. persons to claim foreign status for U. S. tax withholding
purposes. The IRS requires the form to be submitted for each individual opening a new
account. It must also be renewed every three years, or if a change in circumstances makes
any information on W-8BEN form you have submitted outdated. For more information,
please visit the IRS website www.irs.gov. For detailed information, please see IRS
Instructions for Form W-8BEN .
In order to save time on mailing paper W-8BEN form, electronic W-8BEN form is where
you can complete and submit the form online. You will be requested to fill out electronic W8BEN after you first time login your account.
If you decide to fill out W-8BEN form on paper, please mail the completed and original
signed form to Scottrade Asia-Pacific Services to complete your account opening process.
• If I am a new Scottrade client, how should I fill in electronic W-8BEN form?
You will be requested to fill in electronic W-8BEN form when you first time login your
account. Please follow its instruction to complete and submit the form. Click here to see the
step by step instruction.
• Can I place any trade if I skip the electronic W-8BEN process or leave it incomplete?
If you skip this process and your W-8BEN status is not submitted, expired or rejected, you
will not be able to trade online.
• If I am a joint account holder, do I and another account holder have to submit W8BEN form?
Yes, each account holder needs to log in to his or her account and submit a separate W8BEN form. If any account holder does not have a valid W-8BEN status, the account will be
restricted from trading online or fund withdrawal.
• If I am already a Scottrade client, how should I update my W-8BEN?
You will see alter message when you login your account if your W-8BEN is almost expire or
already expired. Please follow its instruction to complete and submit the form.
• Can I choose to mail in paper form, instead of submitting electronic W-8BEN online?
Yes, you can mail the completed and signed W-8BEN form to Scottrade Asia-Pacific Services.
Upon receiving your valid form, we will update your record within 24 hours, or contact you if
there is any issue. After your W-8 status is updated in our record, you will be able to trade
online.
• Will I need to submit additional documents?
You may need to provide additional documents if you provide a U.S. mailing address, or your
account address (home or mailing address) is changed. For more information, please visit
chinese.scottrade.com, or contact Scottrade Asia-Pacific Services.
Funding & Withdrawal Questions
• How soon do I have to deposit funds after opening an account?
Funds must be deposited within one month after the account is opened, or your account will
be closed. If you are unable to fund your account within one month, please contact
Scottrade before the deadline to extend your funding period and keep your account open.
Once your account is closed, you will have to apply for a new account if you still wish to be
with Scottrade.
• How can I deposit funds into my Scottrade account?
 Wire transfers from bank – please provide the following information to your bank
when wiring funds to your Scottrade account. You may choose the following bank
as the receiving bank.
US Bank N.A.
Address: 721 the Locust St., St. Louis, MO 63101, USA.
The ABA #: 081 000 210 (domestic)
International Remittance Code (Swift Code): USBKUS44IMT (international)
Account Name: Scottrade Inc.
Account Number: 1001086162
Further Credit to: Provide your Scottrade account number and name.
Note:
Please provide the account holder’s name, Scottrade account number, sender’s full
name, address, and bank account number on the wire transfer form. Funds may be
returned if information is not completed.
 Check deposits – Scottrade accepts personal checks and cashier’s checks issued
by banks in the U.S. Money orders are only accepted for initial deposits. Please
make check payable to Scottrade and include your account number in the memo
area. Money Order is only accepted as initial deposit. Please mail the check to
Scottrade Asia Pacific Service Center at following addresses:
Mailing Address (Including Express Mail):
Recipient: Scottrade, Inc.
Asia-Pacific Service Center
Address: P.O.Box 31759
City: Saint Louis
State: Missouri
Zip Code: 63131
Country: U.S.A.
Courier services (FedEx, UPS, DHL, EMS) Overnight Mailing
Address: Recipient: Scottrade, Inc.
Asia-Pacific Service Center
Address: 700 Maryville Centre Drive
City: Saint Louis
State: Missouri
Zip Code: 63141
Country: U.S.A.
 Money Direct® (ACH) deposits – if you have a bank account in the US, Money
Direct is an easy and fast way to electronically transfer funds from your checking or
savings bank account to your Scottrade account. To setup Money Direct, please log
into your Scottrade account and click on “Deposits” on the left menu bar under the
“My Account” tab.
You will need:
A: Your bank account number in the U.S.
B: Your 9-digit bank account routing number(ABA number shown on the bottom of
the check)
 Transfer an account to Scottrade
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Can I deposit third-party checks into my Scottrade account?
Yes, but only if the third party has a Scottrade account and the “Authorization to Deposit”
form is completed by the third party.
• When will my funds be available after deposit?
 For domestic wire transfers, funds will typically be available in 24 hours; for
international wire transfers, funds will typically be available in 48 hours. (It may take
more time under special circumstances).
 Check deposits are usually available immediately after they are posted in the
account. If a deposit is more than 3x available equity* or new and unfunded
accounts, there will be a 2-day holding period. Please note that checks must be
cleared through a U.S. bank, with an ABA routing number.
 Money Direct deposited funds can be used to trade $3 or above marginable stocks
on the same day; however, funds are not available until the 3rd business day for
purchasing non-marginable stocks $3 or under and options.
 Funds from cashier’s checks are available for trading as soon as they are posted in
your account regardless of the amount.
* Available equity is the total value of cash and/or securities in the account, excluding options positions and
deposits with trading restrictions in effect.
Availability of funds might be different depending on amount, time of deposit and verification
methods. Please contact Asia-Pacific Service Center if you have any questions.
• How do I withdraw funds?
 Check Request: Please submit a completed “Non-U.S. Person Brokerage Account
Fund Request Form” “Check Request” selected to Scottrade Asia Pacific Service
Center. Upon verification, Scottrade will process your request and mail out the
check to the address on file within 24 hours.
 Wire Request: Please submit a completed “Non-U.S. Person Brokerage Account
Fund Request Form” with “Wire Request” selected to Scottrade Asia Pacific Service
Center. You need to provide your receiving bank information such as bank name,
bank address, bank phone number, bank ABA number or Swift code and your
account name and number at this bank. Upon verification, Scottrade will wire out
requested amount within 24 hours.、
• When withdrawing funds, can I request to make checks payable to third parties or
wire funds to a third party bank account?
No, checks are only payable to the account holder and mailed to the address on file. Funds
can only be wired to the bank account with the same ownership of Scottrade account.
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I have over 5, 000 equity in my international account, can I request check writing?
Sorry, currently checkwriting is not available for international accounts.
• I am an authorized agent. Can I request funds on behalf of the account holder?
An authorized agent can only request checks on behalf of the account holder Please submit
a completed “Non-U.S. Person Brokerage Account Fund Request Form” with “Check
Request” selected to Scottrade Asia Pacific Service Center. Checks are only payable to
the account holder and sent to the address on file.
For wire request, the account holder must submit completed “Non-U.S. Person Brokerage
Account Fund Request Form” with “Wire Request” selected to Scottrade Asia Pacific
Service Center. Authorized agent cannot request wire transfer on behalf of the account
holder.
Account and Trading Questions
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How can I update my address, phone number, or email in my account?
You can update your account information online or submit a “Non-US Person Account
Change of Address Form” by e-mail or fax to Scottrade Asia Pacific Department. If you are
updating your information online, please log into your account and click on “My Information
& Preferences” on the left menu bar under the “My Account” tab.
• Can I request for my friend or family member to help me trade and have access to
my account?
Yes, you will need to submit the "Trading Authorization for Non-U.S. Residents" form to
Scottrade. If the authorized agent lives in the United States, he or she must provide a
social security number on the form. If the authorized agent lives in the United States but
does not have a social security number, he or she must attach a copy of a valid personal ID
document (driver's license or passport) and proof of address (recent bank statement or
utilities bill dated within the year). If the authorized agent does not live in the United States,
in addition to providing a photocopy of a valid personal ID document and proof of address,
the “Trading Authorization for Non-U.S. Residents"” form must also be notarized.
Are there any differences in commissions and fees between domestic and
international clients?
No, both domestic and international accounts are charged the same commissions and fees.
We provide high level of services to all of our clients. For more information, please visit
Commissions and Fees.
• Am I required to pay U.S. taxes on my Scottrade international account? What is
1042-S form?
Under the U.S. Internal Revenue Service Instructions, most foreign investors who have
completed the W-8BEN form and are identified as non-resident aliens can claim an
exemption from tax withholding of capital gains; however, the tax withholding from cash
dividends varies depending on the tax treaty between your resident county and the U. S.,
currently 10% for China, 30% for Taiwan. In Addition, we provide 1042-S form annually
which contains certain investment income and tax withholding information. Please consult
your tax advisor if you have any tax related questions.
• Does Scottrade accept restricted stocks? Can Scottrade help me remove stock
restrictions?
Scottrade does not accept restricted stocks, nor help clients remove restrictions. Stocks
deposited into Scottrade accounts must be unrestricted and free to trade in the U.S. market.
If you are not sure whether or not your stocks are restricted, please e-mail or fax both the
front and back side of your stock certificate to Scottrade Asia Pacific Department for review.
Other Questions
• I used to live in the U.S, but have moved to another country. Can I convert my
Scottrade domestic account to an international account?
 If you are a U.S. citizen or permanent resident, and are on a short-term visit or working
in another country, you might be able to keep your domestic account as long as you
have a valid U.S. address. Please contact your local branch office for details.
 If you are not a U.S. citizen or permanent resident, and have moved to China or Taiwan
permanently, you will need to close your domestic account and open an international
account if you are also citizens of these regions. You can request to transfer all assets
from your domestic account to your new international account by submitting an
“ Authorization to transfer Cash/ Securities”.
• I used to live in China or Taiwan and opened a Scottrade international account. I
moved to the U.S and became a permanent resident. Can I still keep my international
account?
No, you must open a U.S. domestic account at your local Scottrade branch and complete
the ”Authorization to Transfer Cash/Securities” form to transfer all assets from your
international account to the domestic account. Once the transfer is completed, your
international account will be closed.