Delivery to accounts with specific tax rules

General Information About ISK and KF Accounts

• Swedish ISK (Investment Savings Account) and Swedish KF (Capital Insurance) are two types of securities accounts with a tax structure that differs from a “regular” securities account.
• The accounts are taxed through an annual standard (flat-rate) tax.
• It is always the bank that ultimately decides whether to accept or reject a deposit.
• Only securities traded on a marketplace can be booked into an ISK/KF (with certain exceptions available for unlisted holdings within KF solutions).
• According to the Swedish ISK legislation, payment for the securities must be made from the ISK in order for delivery to that account to be accepted. As a general rule, the same applies to KF.

Please note!

All banks interpret the legislation differently and have different procedures for how subscriptions can be carried out via an ISK or KF. For example, you cannot pay for securities from a cash account/salary account at one bank and then have them delivered to an ISK/KF at another bank. Some banks do not assist their customers with payments from ISK/KF accounts and may therefore completely reject deposits into ISK/KF in connection with share issues. Always contact your bank before submitting a subscription form to us and stating an ISK or KF account.

Avanza – How does it work if you want the shares delivered to an ISK/KF?

In rights issues and/or IPOs:

The subscription for the securities must be submitted directly to the bank, not to us as the issuing agent (log in to Avanza’s online banking and locate the offer you wish to subscribe to). Payment for the securities must be made from the ISK/KF, and Avanza handles this on your behalf once the subscription has been made through them.

In bridge loans/set-off issues:

Since payment is made long before the delivery of the securities, banks will usually reject deposits into ISK/KF.

In directed issues/block trades:

Nordic Issuing contacts Avanza to ask whether they can assist you as an investor in having the shares delivered to your ISK/KF. Avanza usually helps, but may decline if they have a high workload. You as an investor must send a secure message to Avanza (while logged in) stating that you wish to use your ISK or KF. Nordic Issuing reissues the contract note in Avanza’s name, and Avanza makes the payment on your behalf from your ISK or KF.

Nordnet – How does it work if you want the shares delivered to an ISK/KF?

In rights issues and/or IPOs:

The subscription for the securities must be submitted directly to the bank, not to us as the issuing agent (log in to Nordnet’s online banking and locate the offer you wish to subscribe to). Payment for the securities must be made from the ISK/KF, and Nordnet handles this on your behalf once the subscription has been made through them.

In bridge loans/set-off issues:

Since payment is made long before the delivery of the securities, banks will usually reject deposits into ISK/KF.

In directed issues/block trades:

As an investor, you can only have the securities delivered to a KF, not an ISK. When you receive a contract note from us, you can forward it to Nordnet, and they will assist you with making the payment from your KF.

Other Banks – How does it work if you want the shares delivered to an ISK/KF?

All banks interpret the legislation differently and have different procedures for how subscriptions to securities must be carried out via an ISK or KF. Always contact your bank before submitting a subscription form to us and stating an ISK or KF account. It is not certain that your bank will be able to arrange for the securities to be delivered to an ISK/KF.