A member of
Eurex Clearing
Retroactively as of 1 January 2017, Eurex Clearing will apply for the Qualified Derivatives Dealer (QDD) status at the U.S. Internal Revenue Service (IRS). This circular contains information on the clearing of potential 871 (m) Internal Revenue Code (IRC) transactions and requests Clearing Members to provide Eurex Clearing QDD/primary Qualified Intermediary (QI) status certification.
- Eurex Clearing will apply for the QDD status as of 1 January 2017 by submitting an application for the renewal of the QI agreement prior to 31 March 2017.
- Eurex Clearing requests all Clearing Members to act either as QDD or primary QI in potential 871 (m) IRC transactions. Hence, Clearing Members are requested to provide Eurex Clearing with a duly executed form W-8IMY or W-9 by 31 March 2017 but no later than the first date a payment subject to withholding will be paid (or deemed paid) in order to avoid any adverse withholding tax consequences.
Eurex Clearing is not required to provide its Clearing Members with any information identifying potential 871 (m) IRC transactions, applicable delta, dividend equivalent amount or the timing of withholding.