The dividend has been declared and the x date is May 11. The payout is listed at $1.822/share but I don't see where the pay date is listed. Has anybody held this long enough to guess at how much of the $1.822 I will actually receive in an IRA?
Thanks for your help.
I'm hearing from other posters that Charles Schwab and Fidelity have corrected this mistake, and reduced the withholding for U.S. holders to 15%. You paid 25% and so should seek a correction.
MY broker, TD Ameritrade, claims that SNY rejected their application to have my "rollover IRA" get U.S. Treaty reduction of the withholding to 15%.
That is bull! I am in the process of moving my funds out of TD Ameritrade.
It looks like France withheld 25% of the approx 1.8 div. I am in the same situation, but have been told that France and the U.S. have entered into an agreement that only 15% should be withheld. Supposedly, your broker has to file a simple statement with France that you are a U.S. citizen for you to qualify. I have initiated a complaint with my broker. You may want to consider doing likewise.
Interesting you said e-trade took 25% from your SNY div. I also own huge French oil company "TOTAL" symbol TOT. I was hit 25% on recent div. One posting on TOT message board claims that e-trade takes only 15%. If interested check the TOT message board for that June 21 posting.
From reading comments in this forum, it seems both Schwab and Fidelity have corrected their foreign tax withholding for individual IRA holders to 15% rather than the 25% TD Ameritrade has given away to France from MY account.
I've found all kinds of forms for me to fill out, send to the U.S., France, TD Ameritrade, who-flung-dung, just to get my 1 dividend corrected for this 1 company.
How did Schwab and Fidelity manage to do it for ALL their investors with so little effort?
Can they please call Ameritrade and straighten out their confusion?
As a result of reading this message board I contacted my broker Scottrade today and they told me since they are a discount broker they are not going to do anything about it. They did tell me I should contact the IRS. If anyone else has Scottrade perhaps they can get a better answer than I received from them.
Anyone know what the small div payment on 8/24/11 is all about. TD Ameritrade is researching this for me, but they seem confused. First they say it is a payment to make up for the underpayment of dividend back in June, but it is not enough to make up for their mistake.
They took 25% withholding from the SNY dividend, but, according to US-France Treaty, the amount should have been only 15% of the dividend.
This 8/24/11 div payment is only about 1/20 of what TD Ameritrade would have to pay me to make up for their original error.