BROKER DEPOSITS AND WITHDRAWALS
Steps to Depositing Shares:
- Find a broker that agrees to accept your shares for deposit.
- Verify your shares are unrestricted*
- Check if the company is FAST eligible to be able to move shares electronically.
- If depositing electronically, determine with your broker which system they will use to initiate the request.
*If they are currently restricted, you may wish to review the process of removing the restriction from your shares before depositing them with a broker. Your broker can also walk you through the process.
Have more specific questions about electronic deposits? Visit the Electronic Deposits section of our FAQ page.
There are a few avenues for moving your shares to and from a brokerage account. One way is through physical certificates; the other two options are done electronically:
- Direct Registration System (DRS)
- Deposit/Withdrawal At Custodian (DWAC)
| DWAC | DRS | |
|---|---|---|
| Send to ClearTrust: | An original Medallion Guaranteed Stock Power | Instructions and payment for deposit. |
| Send to Broker: | Instructions to initiate request: ClearTrust's TA #50246; full account name as it appears on file with ClearTrust, to be entered into the COMMENT section of the DWAC request; number of unrestricted shares to deposit; CUSIP number. | Instructions to initiate request: ClearTrust's LPA #7997; the primary Tax ID on file with ClearTrust (if you don't have a U.S. Taxpayer ID, the broker must use 999-99-9999 instead and enter the full shareholder name in the COMMENT section); your ClearTrust account number; number of unrestricted shares to deposit; CUSIP number. |
OPTION FOR PHYSICAL DEPOSITS & WITHDRAWALS:
If your broker tells you to send them a physical certificate, the only additional items needed are mailing instructions, and either a prepaid shipping label or an additional $35 for domestic overnight shipment.