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Gifting your Shares

Gifting shares is a change in ownership to give away control and transfer mutual fund shares directly to an individual, corporation, charity, not-for profit, church, or other entities. The entity that is being gifted those shares must be aware of the gift and complete a new account application if they do not have an account. All current owners of the account must obtain Medallion Signature Guarantee Stamps.

·        Account owners gifting their shares are losing control of the account, which requires them to obtain a Medallion Signature Guarantee Stamp   

·        To find out more about a Medallion Signature Guarantee and the financial institutions participating in the program click here  

·        All forms need to contain original signatures and be mailed to us at one of the mailing addresses provided on the forms

·        This is only for non-IRA accounts to complete

The registration needs to be updated because…

Instructions and Forms I need

What else I need to know…

 

I want to gift my shares to an individual or charitable organization

 

·        Account owners please complete the Change of Registration Form

 

·        If the individual or charitable organization does not have a current account with us they must complete a New Account Applicationor New Entity Account Application

 

·        All account owners or trustees must obtain a Medallion Signature Guarantee

 

·        Gifting your shares does not generate a 1099-B and is not taxable