Perform an Interportfolio Transfer for a Position

In the Interportfolio Transfer panel, you can manually transfer a position and/or lots for a single security from one entity to another entity. The system transfers quantity and cost. It does not transfer cash.

To transfer a security to another entity manually:

From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
Enter Interportfolio Transfer in the Start Search text box.
Click the Interportfolio Transfer (Accounting Center) link to access the panel.
You see the Interportfolio Transfer panel.
Complete the options in the Interportfolio Transfer panel.
Click Submit.
You have transferred a single security from one entity to another entity.
Close the Interportfolio Transfer bottom tab to return to the Accounting Center.

Interportfolio Transfer Panel Options

The following are the options in the Interportfolio Transfer panel.

Origin Entity Information

The following are the options for origin entity information:

Entity Name (tag 1164). Specifies the name of the origin entity, also called the From entity.
Entity ID (tag 1163). Specifies the unique identifier of the origin entity.
Accounting Basis (tag 21). Displays the primary accounting basis of the origin entity.
Base Currency (tag 86). Displays the base currency of the origin entity.

Recipient Entity Information

The following are the options for recipient entity information:

Entity Name (tag 1084). Specifies the name of the recipient entity, also called the To entity. The recipient entity must have the same number of accounting bases as the origin entity.
Entity ID (tag 301). Specifies the unique identifier of the recipient entity.
Accounting Basis (tag 309). Displays the primary accounting basis of the recipient entity. The origin entity and the recipient entity must have the same number of accounting bases.
Base Currency (tag 320). Displays the base currency of the recipient entity.

Accounting Information

The following are the options for accounting information:

Acquisition Type (tag 2425). Identifies an inheritance or gift that you are transferring to another account. This is a brokerage election. Options include:
– Gift. Transfers gifted lots to another entity, updating eligible securities received as a gift with the with the fair market value as it was on the date of the gift and determining the appropriate gain/loss and gain/loss term. If you select this value, the system sets the Transfer Method field to a value of Original Cost and requires you to supply a value for the Ownership Transfer Date field.
– Inheritance. Transfers inherited lots to another entity, marking the lots as inherited so that the subsequent disposition of the lots is treated with the correct gain/loss term. If you select this value, the system sets the Transfer Method field to a value of Market, and requires you to supply a value for the Ownership Transfer Date field and the Fair Market Value Flag field.
Transfer Method (tag 1872). Determines the method used to value the position for the recipient entity. Options include:
–  Market. Default. Transfers the position at current market price. Gain/loss is taken in the From account. The field displays this value if you set the Acquisition Type field to a value of Inheritance.
–  Amortized Cost. Transfers the position and values it using a price method at amortized cost where the system prices the short term debt instruments using the amortized cost of the securities.
–  Original Cost. Transfers the position at original cost. The field displays this value if you set the Acquisition Type field to a value of Gift.
–  Market (Retain Lot Structure). Transfers the position at current market price. Gain/loss is taken in the From account. This transfer method is similar to the Market method, but ensures you have as many lots in the To account as you had in the From account. The system maintains the same lot structure in cases where the receiving fund has multiple accounting bases and the transfer occurs at cost in one basis and at market price in another. Maintaining the same lot structure allows subsequent identified lot closes (IDLOT) to process correctly.
–  Amortized Cost with Original Cost History. Transfers the current amortized cost along with the original acquisition costs, original acquisition unit costs, and original purchase price.
–  Regulatory Reclass. Transfers financial assets as part of a regulatory class (REGR). A regulatory reclass occurs when you use Eagle Accounting to convert financial assets from an old (IAS 39) IFRS regulatory category to a new (IFRS 9) IFRS regulatory category of Amortized Cost, Fair Value - Other Comprehensive Income, or Fair Value Profit Loss. For example, you move assets from Available for Sale to Amortized Cost.
–  Post-Reclass Transfer. Transfers financial assets as part of a post reclass transfer (REGT). A post reclass transfer occurs when you move financial assets from one new IFRS regulatory category (Amortized Cost, Fair Value - Other Comprehensive Income, Fair Value Profit Loss) to another new IFRS regulatory category. You can perform a post reclass transfer if you need to move positions for a security from one new regulatory category to another. You can also perform a post reclass transfer if you assigned a new regulatory category to an entity/accounting basis and your entity's business model changes. For example, you move assets from Amortized Cost to Fair Value Profit Loss.
Quantity/Ratio (tag 739). Determines how to define the transfer amount. Options include:
– Quantity. Default. Defines the transfer amount as a quantity.
– Quantity Ratio. Defines the transfer amount as a percentage.
Trade Date (tag 35). Specifies the effective date of the trade. The trade date cannot be greater than the post date, accounting date, or settlement date.
Accounting Date (tag 36). Specifies the date the trade is reported and has an effect on the entity's holdings and cash balances. The accounting date must be greater than the trade date.
Monthly Accounting Date (tag 4733). Displays the month end accounting date.
Settlement Date (tag 37). Specifies the date the trade is settled.
Event Type (tag 55). Display the business intent of the transaction. For example, FNDSPLTMRG.
Long/Short Indicator (tag 15). Indicates whether the position you are transferring is long or short. Options include Long or Short.
Issue Name (tag 961). Specifies the name of the security.
Ticker (tag 13). Specifies the system of letters used to uniquely identify a security.
Xref Type (tag 1234). Specifies the cross reference security type, such as SEDOL, CUSIP, and so on.
Xref ID (tag 1233). Specifies the cross reference security identifier.
Quantity Type (tag 12). Displays the quantity generally accepted as a standard for exchange, such as shares, par, units, and contracts.
Instrument Type (tag 11). Displays the instrument type.
Security Type (tag 82). Displays the security type of the asset.
Issue Currency (tag 85). Specifies the currency in which the security is priced.
Position Original Face (tag 109). Displays the original quantity of the position.
Position Quantity (tag 122). Displays the current quantity of the position.
Original Face (tag 41). Specifies the original face value of the security.
Current Factor (tag 91). Specifies the paydown factor for the mortgage backed security.
Quantity (tag 40). Specifies the transfer quantity of the security. The value must be greater than zero. This field appears if you set the Quantity/Ratio field to a value of Quantity.
Quantity Ratio (tag 61). Specifies the transfer quantity ratio of the security as a percentage. This field appears if you set the Quantity/Ratio field to a value of Quantity Ratio. A value of 1.00 moves 100% of an asset.
Price (tag 319). Specifies the market price. For inheritances, identifies the market price on the date of death.
Local to Origin Base FX Rate (tag 87). Specifies the foreign exchange rate for the security's local currency to the origin entity's base currency.
Local to Recipient Base FX Rate (tag 322). Displays the foreign exchange rate for the security's local currency to the recipient entity's base currency.
Lot Selection Method (tag 27). Specifies the lot selection method the system uses to relieve (sell) lots of a security held by the entity. Options include:
–  Ratio Across Lots. The lots are selected and sold based on a proportionate allocation.
–  First In First Out (FIFO). Lots acquired first are sold first. The oldest lot is sold first based on the holding date. If you set the accounting basis Cost Basis Covered Indicator field (tag 2818) to Y, unknown cost lots are relieved first. The oldest cost lot is sold first based on the holding date.
–  Last In First Out (LIFO). Lots acquired last are sold first. The most recent lot is sold first based on the holding date. If multiple lots share the same holding date, the lot with the greatest event sequence is relieved first. The event sequence, set internally by the system, indicates the processing order of transactions within the same position.
–  High Amortized Cost or High Cost (HCLOT). The lots with the highest current cost are sold first. The system uses current unit cost, which includes amortization for debt securities. This method relieves the lots that can generate the maximum loss or the minimal gain.
–  Low Amortized Cost or Low Cost (LCLOT). The lots with the lowest current cost are sold first. The system uses current unit cost, which includes amortization for debt securities. This method relieves the lots that can generate the minimal loss or the maximum gain.
–  High Original Cost (HORIG). The lots with the highest original cost are sold first. The system uses the original unit base cost of the open lots. It relieves the lots that can generate the maximum loss or the minimal gain.
–  Low Original Cost (LORIG). The lots with the lowest original cost are sold first. The system uses the original unit base cost of the open lots. It relieves the lots that can generate the minimal loss or the maximum gain.
–  Identified Lot (IDLOT). The specified lot or lots are sold first, which determines cost and tax implications. You can optimize this option to specific tax situations by selecting the specific lots to be sold. If you select this method, the lower pane in the close trade window displays lot details for each available lot, as determined by the entity's controlling basis. If no controlling basis exists, it displays lots for the primary basis. You must specify the quantity for one or more lots that you want to relieve. The total quantity you specify for the open lots must match the quantity entered for the total close. The close trade relieves the selected lots in each of the entity's accounting bases, and keeps the lot structures in sync. The system uses the lot's Orig Event ID field (tag 457) to match a single open lot in one basis to corresponding multiple open lots in another basis, as needed. This can occur for lots fractured as a result of wash sale processing.
–  Best Tax. The lots are selected and sold with the objective of taking losses first (short term then long term) and gains last (long term then short term). Lots are sold in the following order:
1. Short term Losses. Lots that reflect a short term loss are sold first, beginning with lots that generate the greatest short term loss down to the least short term loss.
2. Long term Losses. Lots that reflect a long term loss are sold, beginning with lots that generate the greatest long term loss down to the least long term loss.
3. Short term No Gains or Losses. Short term lots that reflect no gain or loss.
4. Long term No Gains or Losses. Long term lots that reflect no gain or loss.
5. Long Term Gains. Lots that reflect a long term gain, beginning with lots that generate the least long term gain up to the greatest long term gain.
6. Short Term Gains. Lots that reflect a short term gain, beginning with lots that generate the least short term gain up to the greatest short term gain.
–  Tax Advantage(TXADV). The lots with the lowest tax liability are sold first to minimize tax liability.
–  Versus Purchases (VSP). The lots are selected and sold based on lot purchase characteristics, such as the target purchase date and the target purchase price. This option must be specified at the trade level.
–  Tax Efficiency. The lots with the lowest tax liability are sold first to minimize tax liability. The system calculates the tax liability based on the manipulation of entity level tax factors for long and short term gains, long and short term losses, and currency gains. The system also incorporates the wash sale disallowance effect and considers the overall tax implications of closing each individual lot.
Prorata Noncredit Loss Flag (tag 16157). Indicates whether any noncredit loss associated with partial interportfolio transfers on taxable transactions is reversed prorata. This field appears only when you transfer partial quantity. Options include:
– Yes. Any noncredit loss associated with partial interportfolio transfers is reversed prorata.
– No. Default. Any noncredit loss associated with partial interportfolio transfers is reversed entirely.

Gift/Inheritance Transfer Fields

The following are the options for gift/inheritance transfer fields:

Ownership Transfer Date (tag 2426). Specifies the date of death when you transfer inherited funds or specifies the gift date for gift transfers.
Fair Market Value Flag (tag 2427). Indicates whether to track fair market values. This field appears if you set the Acquisition Type field (tag 2425) to a value of Gift. Options include Yes or No.
Fair Market Value Price (tag 2452). Specifies the fair market for the gift. You can enter zero as a fair market value price. This field appears if you set the Fair Market Value Flag field (tag 2427) to a value of Yes.
Fair Market Value Local (tag 2428). Specifies the fair market value local. This field appears if you set the Fair Market Value Flag field (tag 2427) to a value of Yes.
Fair Market Value Base (tag 2429). Displays the fair market value base. This field appears if you set the Fair Market Value Flag field (tag 2427) to a value of Yes.

Other Information

The following are the options for other information:

Retro Indicator (tag 11018). Indicates whether to trigger retrospective amortization in the receiving fund. This field appears only for transfers of debt securities excluding factor based securities. Options include Yes and No.
Transaction Notes (tag 56). Specifies user defined information about the transaction.
Source Trade Ticket Number (tag 761). Specifies the trade ticket identification number. The system uses it during processing. For example, IDLOT close or cancel events uses this number to locate an open lot.
Event Sub Priority (tag 3961). Specifies the corporate action sub priority which determines how the actions are processed when there are multiple transfers in a single day.
User Char 1 (tag 1887). Specifies one of three user defined fields.
User Char 2 (tag 1888). Specifies one of three user defined fields.
User Char 3 (tag 1889). Specifies one of three user defined fields.

PACE Performance Fields

The following are the options for the PACE Performance fields:

Performance Price (tag 4598). Specifies the price for use by Eagle's Performance solution. This field appears if you select a Transfer Method other than Market or Market (Retain Lot Structure).