Transfer

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Transfer

A change of ownership from one person or party to another.

Transfer

1. To sell.

2. To deliver.

3. To change ownership between parties for any reason.

transfer

1. To record a change of ownership in a security on the issuer's books.
2. To deliver a security to the buyer's broker by the seller's broker.
Is it difficult to transfer my brokerage account to a different firm?

Transferring an account to another firm is relatively easy. The first step is to open an account at the new firm. Then sign an account transfer form, which will be provided by the new firm. A representative at the new firm should be able to provide assistance if you encounter any difficulties. The transfer should be completed within two weeks.

George Riles, First Vice President and Resident Manager, Merrill Lynch, Albany, GA

Transfer.

In a transfer, a 401(k) or IRA custodian or trustee moves the assets in your existing account directly to the custodian or trustee of your new account.

With a transfer, you don't risk failing to deposit the full amount of your withdrawal within the 60-day deadline for rollovers. And, in the case of a transfer from a 401(k) or similar retirement savings plan, nothing is withheld for income taxes.

In contrast, if you handle the rollover yourself, your employer must withhold 20% of the account value.

When securities are sent to a transfer agent for reregistration of the ownership name, this process is also known as a transfer.

Securities may be registered in the actual, or beneficial, owner's name, or in the name of a nominee, known as street name. Most stocks that are held by brokerage firms for their clients are registered in nominee name on the transfer agent's books.

References in periodicals archive ?
He said stock transfer resulted in a divisive work environment where staff were subject to harassment in the pursuit of a culture change.
Of a the tax cases analyzing the economic reality issue of S stock transfers, only one has additionally incorporated a fraud argument.
367(a)-3 generally reflects the outbound stock transfer rules of Notice 87-85, 1987-2 C.
Nazare, managing director and Head of The Bank of New York's Stock Transfer Division, said, "It is rewarding that our client-focused philosophy has once again resulted in The Bank of New York being rated the top transfer agent.
The current rules governing outbound stock transfers do not apply to the transfer of stock in a foreign corporation pursuant to a reorganization described in section 368 if that foreign corporation is a party to the reorganization (within the meaning of section 368(b)).
In Group Five's Shareholder Services Benchmark Report, an annual study of corporate clients' opinions of the services provided by commercial transfer agents, the Bank's Stock Transfer Division received the highest score for overall client satisfaction in the large agent category.
Accordingly, the Company has closed its stock transfer books and discontinued recording stock transfers of Common Stock.