Quote Originally Posted by ratkin View Post
Lots of snobbery/ hate towards sharsies on this forum.

Have not used the platform myself yet but I see they are going to offer US shares. Does anyone know if these will be subject to FIF rules? or does the fact you do not actually own the shares mean it will be exempt?
Another outfit is called Hatch that is already offering trading in US equities.

Some years ago I went to a local NZ Shareholder Assn here in Christchurch. They had a representative talk about their Sharsies business. I asked specifically about FIF and what happens and who is responsible about reporting etc. The presenter did not really answer my question so I assumed they did not know. Something tells me is it's entirely up to the client to report to IRD under FIF once they go over that $50K NZD threshold. Sharesies and Hatch only do the minimum requirement such as W8BEN reporting requirements etc.