does interactive brokers share tax information with foreign tax authorities?

I'm living in Israel and i want to know if every year Ib sending all my trading/tax information to the Israeli Irs?
thx

 

Not directly. IB sends tax data only to local taxman. But, that taxman shares information with taxman of your country of residence (Israel) via FATCA/CRS bilateral annual information exchange.

 

This is the case if the account is held with IBKR US. However, I don't know whether Israeli residents will have their account with IBKR US, or with any of the other IBKR subsidiaries. It would depend on the procedures of that subsidiary whether account information would be shared with any tax authority.

 

With IB USA, information exchange is via FATCA since 2014. All other countries where IB has subsidiaries (UK, IE, CE, HK, LUX) exchange information via CRS. Israel is part of CRS since 2019, and signed FATCA in 2014.

 

IB send the info to the tax authorities listed on the following list.

https://ibkr.info/article/2784

 

From that IBKR page:

That's surprising. I thought that the US would participate in this.

 

Are you expecting the authority to come after you?

 

Well, they have something better - individual agreement by their terms with majority of countries called FATCA.