How to Recover Assets From a Transfer Agent
Transfer agents monitor and track ownership of stocks and bonds. Transfer agents issue new certificates or replace lost certificates, pay dividends or interest, track ownership of "book entry" shares held at brokerage firms, and act as the financial intermediary for mergers and acquisitions of publicly traded companies. Transfer agents have a fiduciary responsibility to properly secure and distribute assets according to the owner's request.
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Instructions
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Go through your records of any securities you purchased. You may not have any certificates if the asset was held in book entry. Old purchase confirmation, tax returns or personal records of certificates should have the date and the security purchased. Ideally, the certificate number is the fastest way for a transfer agent to locate your record.
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Keep a copy of any certificate you are sending to the transfer agent to sell, replace or convert into book entry if you are initiating a new transaction. Endorse the original if you have it, or send what is left of a damaged certificate to the transfer agent via certified mail with a signature required. This way you can confirm if and when the certificate was received.
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Call the transfer agent to confirm your security record. Ask when a certificate will be issued to you. Note who you spoke with along with the date and time.
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Write a letter to the transfer agent if your assets are not sent within the time frame indicated. State all information about your security in the letter with copies of the certificate, mail receipts and contact records. Formally request "delivery" of your assets to you or a designated brokerage account.
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Tips & Warnings
Contact the United States Securities and Exchange Commission if you feel your assets are being mishandled. Visit the SEC website's Questions and Complaints section (see References).
References
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