How to Transfer Stocks From One Brokerage Account to Another | The Motley Fool (2024)

FAQs

Can I transfer stocks from one brokerage account to another? ›

The best and most common way to transfer stock between brokers is by direct transfer. Most brokers use the Automated Customer Account Transfer Service (ACATS) to directly transfer investments. Here's how a direct transfer works: You start the process by filling out a transfer initiation form.

Many brokers charge a fee when you transfer brokerage account assets. The typical fee ranges from about $50 to $100, but not every broker has an account transfer fee. The only way to know how much your old broker charges is to check its list of fees or contact customer service.

Contact your broker to get the appropriate forms to complete. The process will be simpler if the new owner also has or will have an account with the same broker, because no change in the actual registration of the shares will be necessary. The broker will simply make the transfer on its own internal books.

To transfer company shares, you must first complete and submit a stock transfer form. You will be required to submit the following information when completing the stock transfer form: Consideration money (How much is paid for the shares) Name of Security (e.g. 100 Ordinary Shares for YOUR COMPANY LIMITED)

Myth 1: Brokerage transfers require you to pay taxes.

If you do an in-kind transfer, meaning you move your stocks from one brokerage to another without buying or selling, you won't pay taxes because the transfer isn't considered a taxable event.

Shares that have a capital gain can easily be transferred along with the gains to the stock recipient. There's a catch. The recipient of the stock would have to pay taxes on the capital gains, but only once they sell the stocks. This will include the difference between the original cost basis and the selling price.

Fortunately, transaction fees are easily avoided by selecting a broker that offers a list of no-transaction-fee mutual funds — most do. Many funds on this list will be from the broker itself, but other mutual fund companies often pay brokers to offer their funds to customers without a transaction cost.

Go to Fidelity.com/TransferMoneyShares or call 800-343-3548. Use this form to transfer assets between Fidelity accounts. Do NOT use this form to change the registration of an existing account. Instead, go to Fidelity.com/forms for the appropriate form.

Schwab does not charge for account transfers. How do you transfer a brokerage account? Transferring a brokerage account to Schwab is as simple as opening the type of account that you plan to transfer.

Where do I get a stock transfer form? ›

You must complete a stock transfer form if you're transfering shares you own to another person or company. HMRC do not issue stock transfer forms, but you can get a stock transfer form from people such as a: broker or company registrar. lawyer or an accountant who deals with share transfers.

You may need to provide documents proving changes to ownership, such as a marriage certificate, divorce decree, or death certificate. If you have questions about how to complete the form, contact the new firm for help. Once completed, keep a copy of the form for your records.

Fidelity doesn't charge a fee for sending or receiving EFTs, but the receiving bank may charge a fee. Fidelity also doesn't charge fees to process wire transfers to a bank or other recipient.

To transfer shares to another broker, you can typically submit a request through the new broker's website or by filling out physical forms. This may involve providing details such as account numbers, stock information, and personal identification.

Required documents include a Share Transfer Deed, Share Certificate, PAN Card of the buyer, Board Resolution, NOC from the seller, and possibly an Indemnity Bond. Is stamp duty required for a share transfer? Yes, the Share Transfer Deed requires stamp duty, which varies by state.

You can transfer positions between your Schwab brokerage accounts online quickly and easily.

You can transfer assets from another institution to most kinds of Fidelity accounts. However, the account you are transferring assets from must be the same type of account to which you are transferring funds.

An account transfer is the easier option to move your money from one institution to Schwab as is. For example, if you have a brokerage account with stocks, ETFs, or mutual funds, you can move over the entire account to Schwab while keeping the investments as they are (or, in-kind).