DRS
Processing
What is a DRS deposit?
The D.R.S. or Direct Registration System allows shareholders to hold
their registered owned securities in electronic book form at the
transfer agent, instead of having a physical certificate.
Using the Direct Registration System you can deposit shares
from the transfer agent electronically (if the transfer agent is a
participant).
What is the fee to process a DRS
transfer?
The DRS fee is $30 plus a Transfer Agent fee ranging from $0-$150 per
request.
What are the advantages of processing
shares electronically as opposed to depositing a physical certificate?
Processing shares electronically can save on time, fees and risks
associated with a lost certificate.
I want to make a DRS deposit of
shares I own. What is the next step?
You will first need to make contact with a broker here and
discuss the details of your transaction. The broker will have
you complete an Equity Deposit Questionnaire or the Quick Facts
Questionnaire. See Guidelines for Depositing OTC Securities.
Once our compliance department has approved your transaction
you can then open an account, or if you have one already open, you will
complete a DRS Request Form and provide us a statement (dated within 3
months) from the transfer agent showing the shares that you are
requesting. Your statement must include your investor ID
number. If any of the information does not match the agent
information, the agent may charge a $75 reject fee or more.
You will then need to wait an additional 48-72 hours after
the initial request before sending another.
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