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Funding Reference > Position Transfers > DRS Transfers How to transfer shares from a transfer agent through DRS

 

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Direct Registration System (DRS) Quick Facts

 

 

Position Transfers: DRS Transfers

 

DRS Position Transfers are used to move book entry shares, from a transfer agent to your brokerage account, electronically without the need to transfer them into certificate form.

Transfering your shares to Place Trade is easy using the Position Transfers' page. Through the Position Transfers' page, you can transfer stocks and warrants using DRS (Direct Registration System) between a Transfer Agent and your Place Trade account. DRS provides registered owners with the option of holding their assets on the books and records of the Transfer Agent in book-entry form. Through DRS, assets can be electronically transferred to and from the transfer agent and broker/dealer.

Please note that all of your account information, including your Account Name (how your account is titled including middle names or initials, Jr, Sr., etc.), Tax Identification Number and Customer Type (i.e. individual, joint, Roth IRA), must exactly match the third-party broker account (where you are transferring your shares from/where they are currently held) in order for the transfer to take place. The information must match or a transfer will be rejected.

 

How to transfer shares from a transfer agent through DRS How to request a DRS transfer

Please note that you will need to log into Account Management to move your shares to Place Trade using the DRS Transfer System. Once you log into Account Management you will start by clicking on the Funding tab which is located on the main menu. 

 

 

To request a DRS transfer simply:

  1. Click Funding and then Click Position Transfers.
  2. If you have a master account or multiple accounts: case you will need to use the Account Selector to search for and select the account for which you want to request a position transfer.
  3. In the Transfer Method list, select DRS - Direct Registration System.
  4. In the Type list, select Deposit. Once you have selected Deposit the DRS Request page will appear and will look like the example below:
         
       
         

  5. In the Account Information section, verify that your Account Title, Account Number, Tax ID Number and Customer Type exactly matches the information in your third-party broker account.
  6. In the Transfer Agent Account Information section enter the account number for your Transfer Agent account, then click Continue. The DRS Transfer page appears.
         
       
         
  7. Select an asset type to transfer, then click the Add button.
  8. Enter the required information for each asset to be transferred, then click Add.
         
       
         
      Each time you click Add, the asset you specified will be added to the list of assets to transfer.  
         
       
         
  9. Click Remove to remove an asset from the list.
  10. When the list of assets to be transferred is complete, click Finish.
  11. Repeat Steps 7-10 for each asset type.
  12. On the DRS Signature page, review the information on the page. Delete assets from the list or add more assets to transfer as required. Then type your name in the Signature field and click Continue.
  13. On the next page, verify your identity by typing your password and the confirmation number we emailed you in the fields provided. 
  • If you do not receive a Confirmation Number by email, please check your junk email folder as sometimes email filters block messages. 
  • Or click Resend Confirmation Number to receive another confirmation email.
  • Or click Cancel to cancel the transfer request.

 

 
     
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Direct Registration System (DRS) Quick Facts:

     
 

 

What should I know about the Direct Registration System (DRS)?

 

Description

An electronic system for registering stock with an issuer/company's transfer agent. These shares are in electronic book-entry format and can be transferred to and from a brokerage account. DRS shares are already issued and held electronically in a book-entry format at the transfer agent.

Please note that a processing fee may apply. For details, see the Other Potential Fees page.

Time to Arrive

Once a client request is submitted via Account Management, the PT system creates a notification. Upon receipt or delivery of shares from or to the transfer agent, the PT system will generate a transaction that will cause the shares to settle into or out of the client's account.

Limitations

Although agents typically respond to a request within two to five days, DRS requests can remain in a pending status for up to 30 days.

 

 
     

 

 

Can I transfer my shares that are held at another brokerage firm (instead of at a transfer agent) to Place Trade?

You may transfer the US stocks, bonds, options and cash (along with most mutual funds and margin balances), that are currently held at another brokerage firm, to PT through the National Securities Clearing Corporation's (NSCC) Automated Customer Account Transfer Service (ACATS). Requests for ACATs are made through Account Management.

 

For more information on regarding how to fund your account, please click here.

 

Position Transfers: Fund your online trading account by transferring positions to Place Trade in just a few easy clicks! Learn how simple it is to add or transfer money via all deposit types including depositing a check, via ACH from your bank or from your account, via wire transfer, Online Bill Payment, Direct Rollover or Trustee-to-Trustee. Learn about what types of checks are acceptable and much more!Back to the top Funding Reference

 
 

Yes, IB supports internal funds transfers for accounts with a matching Account Type, Account Title, and tax ID. Requests may be submitted on the Funds Transfers page in Account Management/Funds Management. For additional information, see Internal Funds Transfer.

All investing involves risk, including the possible loss of principal and there can be no assurance that any investment strategy will be successful.