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Stock Transfer Options
 

Stock Transfer Instructions

In its capacity of transfer agent, First Shareholder Services is a Paperless Legals Agent (PLA) and relies on the Medallion Guaranteed signature of the shareholder (or his/her/its legal representative) for the transfer of stock.

Institutions participating in the Medallion Signature Guarantee Programs include banks, savings and loans, broker-dealers and credit unions. Please contact the local branch of your financial services provider to determine if it offers this service.

The institution providing the Medallion Signature Guarantee will require and keep copies of supporting legal documentation (such as death certificates, powers of attorney, letters of testamentary and trust documents). The institution will review the legal documentation to confirm that the person requesting the transfer and the Medallion Signature Guarantee is qualified to execute the transfer documents.

Transfer Requirements
All transfers require a Letter of Instruction for Transfer Request. The completed Letter of Instruction for Transfer Request must include the following information:

  • Current Registration/Shareholder(s)
  • New Registration/Shareholder(s)
  • Address of New Registered Shareholder(s)
  • Tax ID Number or Social Security Number of New Shareholder (through Form W-9, as discussed in Letter of Instruction for Transfer Request)
  • Number of Shares to be Transferred (including shares held by transfer agent in direct registration, book entry and/or dividend reinvestment account)
  • Delivery Instructions

In lieu of using the form Letter of Instruction for Transfer Request, you may draft your own Letter of Instruction. If you choose to do so, you must include all information listed above. Your Letter will also need to enclose a completed and signed Form W-9 and a Stock Power.

  • The signature(s) of the current shareholder(s) must be Medallion Guaranteed by a participating institution. Any person acting on behalf of a shareholder must identify his/her capacity immediately following his/her signature. For example: John Doe, Executor
  • If the shareholder is deceased, an Affidavit of Domicile is required, together with an Inheritance Tax Waiver if the decedent's state of residence requires one. The executor or representative should check with the decedent's state of last legal residence to determine if an Inheritance Tax Waiver is required.
  • All stock certificates representing shares included in the transfer must be enclosed with the Letter of Instruction.

Medallion Signature Guarantee Exceptions (No Medallion Signature Guarantee required)

  • A Medallion Signature Guarantee is not required to remove a deceased joint tenant (with right of survivorship) from an account, leaving the surviving joint tenant as sole shareholder. In these circumstances, the surviving joint tenant must provide certified death certificate (original or certified copy) for the deceased joint tenant and the Social Security number of surviving joint tenant.
  • A Medallion Signature Guarantee is not required to remove a custodian from an account when a minor reaches age of majority. The minor must, however, provide a certified birth certificate with the Letter of Instruction for Transfer Request.

Guarantor Requirements
To have your signature Medallion Guaranteed, we recommend contacting the institution providing the guarantee to confirm the documentation it will require. As mentioned, Medallion guarantors are required to retain copies of all such supporting documentation.

Typically, Medallion guarantors will require the following documentation:

  • Individual account if shareholder is deceased: a certified death certificate (original or certified copy), and a certified court document naming the requesting party as executor/administrator (Letters of Testamentary/Certificate of Appointment) dated within 60 days of the Letter of Instruction for Transfer Request.
  • Joint Tenant with Right of Survivorship account if the shares are to be transferred to someone other than the surviving tenant: a certified death certificate (original or certified copy).
  • Custodial account when former minor changes registration (name): certified birth certificate (original or certified copy).
  • Name change due to marriage, legal name change, divorce.
  • Trust account if trustee is deceased or has resigned: a certified death certificate for the trustee or a letter of resignation from the trustee; a copy of trust excerpts establishing the succession of the new trustee or the beneficiary's rights of distribution.
  • Corporate account: a corporate resolution with a raised seal, establishing that the signing party has the authority to do so on behalf of the corporation.
  • Power of Attorney: a court-certified copy of the Power of Attorney or a copy of the Power of Attorney with the Medallion Guarantee Stamp affixed to the document.

NOTE: We recommend sending stock certificates by registered mail, insured for 1.5% of the market value of the underlying shares or $50.00, whichever is greater.

If using the U.S. Postal Service, please send all requested documentation to:

First Shareholder Services
PO Box 29522 (FCC61)
Raleigh, NC 27626-0522

If using an overnight delivery service such as Federal Express or UPS, please use the following address:

First Shareholder Services
4300 Six Forks Road (FCC61)
Raleigh, NC 27609-5718

  
© 2012 First Shareholder Services