These instructions require that you provide IB with certain information regarding your DRS account e. Information regarding fees for rejected as well as settled transactions are posted on the website. Once the DRS account information has been confirmed, log into Account Management and proceed as follows:. If this does not match that which you maintain for your DRS account, you will first need to reconcile and correct the information so it matches prior to proceeding with the transfer request.
Requests submitted with a mismatched taxpayer ID will result in the transfer being rejected by your transfer agent and your account being subject to a rejection processing fee;. You may find it easier to pledge your securities as collateral for a loan if you hold the certificates yourself in physical certificate form.
The disadvantages include: When you want to sell your stock, you will have to send the certificate to your broker or the company's transfer agent to execute the sale. This may make it harder for you to sell quickly. If you lose your certificate, you may be charged a fee for a replacement certificate. If you move, you will have to contact the company with your change of address so that you do not miss any important mailings.
Street Name Registration You may have your security registered in street name and held in your account at your broker-dealer. The advantages of letting your brokerage firm hold your securities in "street name" include: Because your securities are already with your broker, you can place limit orders that direct your broker to sell a security at a specific price. Your brokerage firm is responsible for safeguarding your securities certificates so you don't have to worry about your securities certificates being lost or stolen.
Your brokerage firm may keep you informed of important developments, such as tender offers or when bonds are called. It is easier to set up a margin account. The disadvantages include: You may experience a slight delay in receiving your dividend and interest payments from your brokerage firm. For example, some firms only pass along these payments to investors on a weekly, bi-weekly, or monthly basis. Since your name is not on the books of the company, the company will not mail important corporate communications directly to you.
Direct Registration If a company offers direct registration for its securities, you can choose to be registered directly on the books of the company regardless of whether you bought your securities through your broker or directly from the company or its transfer agent through a direct investment plan.
The advantages of direct registration include: Since you are "registered" on the books of the company as the shareholder, you will receive annual and other reports, dividends, proxies, and other communications directly from the company. If you want to sell your securities through your broker, you can instruct your broker to electronically move your securities via DRS from the books of the company and then to sell your securities.
Your broker should be able to do this quickly without the need for you filling out complicated and time-consuming forms. You do not have to worry about safekeeping or losing certificates, or having them stolen. The disadvantages include: If you choose to buy or sell registered securities through a company's direct investment plan, you usually will not be able to buy or sell at a specific market price or at a specific time.
Instead, the company will purchase or sell shares for the plan at established times — for example, on a daily, weekly, or monthly basis — and at an average market price. A: To sell a security held in direct registration , you can: instruct the issuer to sell your security many issuers have programs in place to accommodate sale requests ; or instruct your broker-dealer or the issuer to electronically move your security to your broker-dealer for your broker-dealer to sell; or request a physical certificate and deliver it to your broker-dealer to sell.
To sell a security held in street name registration , you can: instruct your broker-dealer to sell your security; or request a physical certificate and deliver it to another broker-dealer to sell; or instruct your broker-dealer or the issuer to electronically move your security to the issuer for the issuer to sell many issuers have programs in place to accommodate sale requests or to electronically move to another broker-dealer to sell.
To sell a security for which you hold a physical certificate , you can: deliver the certificate to your broker-dealer with your instructions to sell or deliver the certificate to the issuer with your instructions a to change the registration to DRS and move the position to your broker-dealer to sell if your security is eligible for direct registration or b for the issuer to sell if the issuer has a program in place to accommodate sale requests.
When you purchase a security to hold in direct registration, you can tell either your broker-dealer or the issuer to include pertinent broker-dealer information in the issuer's records. If you do not have your broker-dealer information included in the issuer's records at the time of purchase and later want to or if you want to change the broker-dealer information in the issuer's records, you may do so.
You should contact either your broker-dealer or the issuer to obtain information on the procedures and the documents required for such actions. If you elect to transfer Direct Registration shares from Securities Transfer Corporation to your Broker, you must do the following things:. Any movement of book-entry shares in or out of a Direct Registration account will be reported by a transaction statement mailed within approximately three business days of the transaction.
A yearly account statement will be issued from Securities Transfer Corporation. The transfer form requires a Medallion Signature Guarantee available from most financial institutions, such as a commercial bank, trust company, national bank, credit union, brokerage firm, etc. This is a program approved by the Securities Transfer Association that enables participating financial institutions to guarantee signatures.
The Medallion programs ensure that the individual signing the certificate or stock power is in fact the registered owner, as it appears on the stock certificate or stock power. Any U. Such institutions include banks, savings and loans, credit unions and U. A physical certificate will be mailed within approximately two business days of the receipt of the request and transfer fee. Stock certificates are still valid and no action needs to be taken.
To convert existing physical certificates to book-entry shares, send the physical share certificate s along with a letter of instruction to Securities Transfer Corporation and appropriate fee. In addition to having mastered the ins and outs of supporting emerging growth for midsize companies, we continuously keep abreast of changing industry rules, regulations and standards.
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