ADRs in Focus

Dec 10, 20140 comments

In this episode, Ross McGill of TConsult discusses tax aspects of ADRs and interviews industry expert Len Lipton.

During the course of their discussion, Ross and Len answer the following common ADR questions:

  1. What is an ADR and where did they come from?
  2. Are GDRs the same sort of thing as ADRs or are they different?
  3. Are the tax procedures and deadlines the same for ADRs as they are for underlying ORDs?
  4. Can I get tax relief if I hold ADRs where I can’t get relief on the ORD?
  5. How do I find out about all these tax issues?
  6. How do I reclaim overwithheld tax on an ADR?


About Len Lipton

Len Lipton manages the sales and marketing activities for GlobeTax in the Americas. These responsibilities encompass promotion of the company’s services to custodians and asset managers, including spearheading the firm’s business development activities to the hedge fund community. Len also leads the firm’s product development efforts so that GlobeTax can continue to provide the highest levels of service to its clients in the rapidly changing global tax landscape.

Prior to joining GlobeTax in 2004, Len focused on new business and relationship management with Elkins/McSherry, LLC (a State Street Company) as a Managing Director, assisting institutional investors in monitoring portfolio trading costs. His experience also includes investment consulting with Ladenburg Thalmann and Co. Len is a frequent speaker at industry seminars and withholding tax educational forums.


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