How do I transfer issuer-sponsored shares held by a deceased estate to my CommSec Trading Account?
If you are the beneficiary or executor of a deceased estate that has shares held with a share registry (issuer-sponsored shares) and you wish to transfer these shares to your own CommSec Trading Account, we're here to help.
First, you'll need to contact the relevant share registry to include "EST" or "ESTATE OF THE LATE" in the share registration details. For example, 'MR JOHN SMITH' would be updated to 'EST MR JOHN SMITH'.
Next, CommSec requires some documentation to verify that these shares are to be transferred to your CommSec Trading Account. This depends on the amount of holdings (assets) being transferred:
For issuer-sponsored holdings greater than $50,000, we require:
- A certified copy of a Probate/Letter of Administration
- A certified copy of photo ID for each executor
For issuer-sponsored holdings of less than $50,000, we require the above two documents, or all four of the following:
- A certified copy of the Death Certificate, and
- A certified copy of the Last Will and Testament (Will), and
- A certified copy of photo ID for each executor, and
- A Small Estates Indemnity Form*
To transfer the shares, complete an Off Market Transfer Form for Issuer to CHESS transactions. Please note that fees may apply.
Please also provide CommSec with a copy of your Issuer Sponsored Holding Statement (if available), so we can validate your shareholding details as needed.
Please email the documentation to commsecestatesmanagement@cba.com.au or post to CommSec Estates Management, Locked bag 22, Australia Square, NSW 1215.
*Important Information
The Small Estates Indemnity Form can be found on pages 3 and 4 of the Estate Management Disbursement Form.
Need help understanding some of the key words we used in this article?
Familiarise yourself with these words below:
| Technical term | Definition |
|---|---|
|
Certified copy of a document |
A certified document must include the statement “I certify that this is a true copy of the original document” and include the full name, signature, date or certification and qualification/occupation of the certifier. |
|
Probate |
A Probate is a document issued by the Supreme Court that confirms the validity of a will, and authorises the executor/s to act. Please note that if the Probate was issued in South Australia we will also require the Registrar certificates. If this was issued as an electronic grant after 26/11/2018, a non-certified copy is acceptable. |
|
Letter of Administration |
A Letter of Administration is a document granted by the Supreme Court giving authority to an administrator to collect and distribute the assets of the estate in the absence of a valid will. |
|
Death Certificate |
A Death Certificate is an official document issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death. |
|
Last Will and Testament |
The Last Will and Testament (will) is a legal document in which a person specifies how they wish their estate to be distributed after their passing. |
