Can’t purchase
$ $1847 Holdings(EFSH.US$ I have been trying to purchase these on limit most of the day and instead I get the error “Buy to open positions in this stock/option is currently unavailable.” I stocks being purchased and the stovk going up and down, but I cant purchase on any device.
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Moomoo Lily : Hi, mooer! The question has been forwarded to the customer service. Please wait for the reply.
Moomoo Buddy : Dear client, it's PTP stock. Pursuant to Internal Revenue Code (IRC) Sections 1446(a) and 1446(f) of the US Internal Revenue Service (IRS), from January 1, 2023, holdings, trading, or transfers of Publicly Traded Partnership (PTP) securities by a non-US person shall be subject to the following withholding tax:
● Sales, trading, or transfers of PTP securities shall be subject to a withholding tax equal to 10% of the transaction amount;
● Dividends from PTP securities shall be subject to a withholding tax equal to 37% (applicable to individual investors) or 21% (applicable to companies or institutional investors) of the dividends.
Considering the complexity of withholding tax, moomoo US has decided to make the following trading arrangements (which may be adjusted from time to time based on the latest developments):
● From December 5, 2022, we will stop accepting transfers of PTP securities into Moomoo US. You can still transfer PTP securities out of moomoo US without transfer fees. View more instructions via the link: https://www.moomoo.com/us/support/topic4_82
● From December 8, 2022, margin trading (for both long and short positions) of PTP securities will not be supported.
● From December 12, 2022, opening positions in PTP securities will not be supported.
● From December 26, 2022, closing positions in PTP securities will not be supported, with the last trading day being December 23, 2022.
● From December 26, 2022, opening or closing positions in PTP securities or options will not be supported, with the last trading day being December 23, 2022.
For the list of PTP securities, please check https://www.moomoo.com/us/support/topic4_340
102765799 Moomoo Buddy: hi, then what can we do to the shares we have??
Moomoo Buddy 102765799: Dear customer, as mentioned above, you can still transfer PTP securities out of Moomoo SG without transfer fees. Please send a transfer request to clientservice@sg.moomoo.com. enclosed link for your easy reference, If any further help needed, please kindly contact us through Me-Customer Service-Online Inquiry or drop us a call at +65-63218888. Thanks for your support and have a nice day ahead.
Withholding Tax on Publicly Traded Partnerships (PTP) Securities and Trading Arrangements-moomoo Help Center