How do I pay for transactions and receive sales proceeds?
Your brokerage transactions involve the movement, or “sweep,” of assets between your brokerage account and your linked Vanguard money market settlement account. You must have assets in the right account at the right time to prevent rejected orders and account restrictions. The amount required for settlement, plus any commission or purchase fee, is redeemed from your money market settlement account on the settlement date. If you plan to pay for a purchase using assets held in another Vanguard fund account, you must initiate the exchange into your settlement account by 4 p.m., Eastern time, on the business day before settlement. If you’re covering a purchase with a bank wire, see our wiring instructions.
Related Questions
- Form 1099-B, Proceeds from Broker and Barter Exchange Transactions will be mailed to shareholders who have sold any of their fund shares during the year. (See the answer to the question: Why did I receive Form 1099-B, and where do I report the information?
- How do I account for Sales / Purchase transactions of Excisable goods?
- How do I pay for transactions and receive sales proceeds?
