IRA ACCOUNTS WITH COMPUTERSHARE!!! I spent my entire morning getting this figured out, because I love you apes so damn much.
Alright, Apes! I used my morning Adderall to get to the bottom of this once and for all.
COMPUTERSHARE DOES HANDLE IRA ACCOUNTS!
I chatted, called, then chatted again to figure this all out.
At first, they told me to use the " Deceased Transfer Package" form to change the registration of the shares.
This didn't make sense to me, so I called. The fellow on the line told me that ComputerShare would need a "Bank of the Custodian" to hold the shares and the certificates would be sent to DRS. This didn't make sense either. Then, back on chat, I was told that ComputerShare DOES NOT offer IRA accounts. Any shares moved from IRAs like Fidelity and Vanguard will be DRSed, but it will be considered a non-registered account and registering will negate the IRA status. At this point, I was demoralized. I followed up with asking about the "Deceased Transfer Package" form and he looked into it more.
GOOD NEWS EVERYONE!
Now they are saying that they can register current DRS shares as IRA shares.
Then I had some questions for the form I wanted to straighten out.
- Medallion Stamp Guarantee
- Account Number
- Rollover of Existing IRA Shares
- Directly purchase into IRA
While Joriouz didn't play along at hamming it up for us, I am a VERY happy ComputerShare customer!
Edit: Obviously, thus is not financial advice. Please double check for yourself before committing. I have an appointment tomorrow with BoA to get the medallion stamp. I also am going to call a tax professional to see if I am going to be hurting myself come tax time. The only thing I could see being a bad thing would be if Vanguard sold and transferred instead of rolling over as requested. Please correct me if I am wrong. I've only ever had a Roth IRA.
Edit 2: I am currently at BofA getting the Medallion Stamp Guarantee. I don't bank with them except for my 20 year old credit account, so they made an exception for me. I do my banking online, so I don't have another B&M place I could go.
The guy helping me is popcorn ape, so we talked a bit. I described what I was doing and then I realized I was about to screw myself with a tax mistake! I was intending on registering ALL my computershares, which would exceed the IRA contribution limit. He printed a new form for me and it was approved faster than he had ever seen! Now onto the post office to get this form in the mail!
Posted Sep 28, 2021, 5:45 PM UTC · edited
Nothing in this mentions GameStop. Yes, Computershare supports IRAs for some companies (remember they do a lot more than GameStop). For GameStop, the company (GameStop) does not support IRA accounts.
I'm becoming skeptical of "you can do IRA transfers" posts because it can cause tax implications that may be due and require selling shares to meet those obligations.
Highly recommend everyone do their own research.
Disclaimer: have many shares in IRA account. Wish I could transfer but Computershare does NOT support for GameStop.
oof. you are right! I will attempt it and see what happens.
Sucks that you would admit to that comment being right but your post is already convincing others they should try this.
Good luck in your attempt!
Yaa I would make an edit at the top of your post to clarify.
When I investigated (was asking about using a self-directed IRA) the phone rep said they were capable of marking GME shares as an IRA account. You can't sell without a mailed-in medallion signature though (lol, no idea how to sell anyway, I'll worry about this later or maybe I just won't).