Questions. How much did you receive per share? I do not understand whether you received the cash and still own the shares OR you converted your shares to cash and do not own the shares anymore?
Just got the forms in the mail. The forms are for information, so non Israeli citizens do not have to pay the 26% Israeli tax.
I read the instructions and it states' that if you are a "U.S. Person" you must complete the substitute form W-9 enclosed. See Instruction 7. There is no substitute form W-9 enclosed in the envelope or any instructions that include #7 for filling out a substitute form W-9? The Israeli tax form requires a U.S.tax I.D. I believe the Israeli tax form may cover both forms.
The instructions are incomplete and confusing. I will have to call Scottrade or D.F. King & Co for clarification.
Israeli Tax Forms have just been mailed out. They are distributed by First Clearing, LLC.
Looks like there is a 26% payable tax to the Israeli's. As well as a US Tax. Nice.
It states the cash payment is US$8.97 per share.
According my Scottrade person if you agree to the terms of BO you won't pay the Israeli tax.But apparently there is a $25 fee involved in this transaction. He wasn't clear on the transaction date but thought it'd be sooner than the 7/17 date. From all indications this will take a while. Lesson learned - sell an ADR stock before you end up waiting for the deal to seal, otherwise wait 6 months. Grrrr. Talk about dead money.....
No, Schwab just posted the ITA forms to avoid israeli withholding. And the deadline for those forms is July 17 at Schwab. I am trying to find out if those who submit forms right away and expect a payment sooner. American Stock Transfer is the paying agent and DF King in the information agent. I hope we don't have to wait that long. Can anyone else chime in particularly those who hold shares in their own name rather than street name.
The expiration date is 7/27/2015. The broker stated,the transfer agent is mailing forms out to avoid the 25% Israeli withholding tax and are waiting till 7/27/2015 to get all the forms back and payout the funds The Deal CLOSES ON 7/27/2015!
I got this email from my broker, how is this a non-mandatory reorganization or mini tender offer? I am missing something?
"Description: CIMATRON LTD (ISRAEL)
The above-listed stock is part of a non-mandatory reorganization or tender offer, which currently expires on 07/27/2015.
Where to find more information: •For offers initiated by the company, information can often be found on the company's website.
•If the offer was initiated by a third party, additional information can be obtained by contacting your local Scottrade team.
•For mini-tender offers, the US Securities and Exchange Commission has urged caution. To review an SEC educational piece entitled "Mini-Tender Offers: Tips for Investors," go to http://www.sec.gov/investor/pubs/minitend.htm."
Schwab told me that the effective date was 2/10/2015 and they are waiting on receiving the cash from the depository trust company. The person I talked to said that they don't receive word on when that will be and don't have any more info than I do, but he estimated a week or two based on past transactions he has seen. Take that with a grain of salt.
Expect delays on getting your money. The last bought out Israeli company I invested in took a month after delisting before I received the money. Proxy calls for a W-9 form to be filed related to backup withholding.