Bitget Details ROC Tax Refund Processing for Stocks
Bitget announced tax correction processing for Return of Capital distributions on rTokens and direct US stocks, with refunds distributed in USDT.
Crypto exchange Bitget has announced support for Return of Capital (ROC) tax correction processing for both its rTokens and direct US stock trading products, according to Bitget_Announcements.
Refund Mechanism
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Upon receiving instructions from upstream institutions during the uniform US stock tax refund window the following year, the platform will process refunds for pre-withheld taxes to eligible users. The withheld tax corresponding to the ROC portion is typically calculated and refunded by the clearing broker in the first half of the following year.
Account Crediting
Once the platform receives the refund, funds are credited directly to the customer's account in USDT. Generally, no manual action is required from customers, though the exact arrival time depends on actual fund crediting.
Key facts
- Tax correction processing applies to Bitget rTokens and direct US stock trading.
- Refunds for the ROC portion are distributed in USDT.
- Processing typically occurs in the first half of the following year during the uniform US stock tax refund window.
- Ordinary dividend withholding tax does not currently support differential tax refunds based on tax residency or treaty rates.
Source: bitget.com
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