People change their names for various reasons. Marriage, divorce, new start etc. It’s important to update your shares’ names if you change them. This is crucial in order for you to keep using your shareholder rights, which include the ability to vote and get dividends. It can be easy not to think about changing your name on your shares, but it must be done. Read on to find out more.
How to Update Your Name
Depending on the company you own shares in, there may be differences in the procedure for renaming your shares. Nonetheless, there are a few general actions you can take:
- Speak with the company’s share registrar and ask for a name change form.
- Fill out the form and attach any necessary supporting documents, such as a copy of your deed poll or marriage licence.
- Send the completed form back to the share registrar.
- The share registrar will add Your new name to the company’s shareholder register.
- The share registrar will issue you a confirmation of the name change.
- To inquire about modifying your name on shares, contact the company’s share registrar. They’ll be able to give you detailed information about the procedure and any associated costs.
Things to Consider
Supporting documentation – Different kinds of supporting documentation will be needed depending on the business. A copy of your divorce decree, deed poll, or marriage certificate are a few typical examples.
Fees – Changing your name on shares may incur fees from certain companies. The cost will change based on the business.
Timeframe – Depending on the company, there may be a different timeframe for modifying your name on shares. Still, it’s usually a simple and fast process.
Cover everything – Ensure you change your name on all shares and investments.
Advantages of Renaming Your Shares
- It guarantees that your documentation is correct and current.
- It might aid in preventing fraud.
- It might facilitate the sale or transfer of your shares.
You should update the names on your shares as soon as possible if you have changed your name and own stock in any company. You can safeguard your interests by following this easy process as a shareholder.
Contact Medallion Guarantee on 0203 985 9551.