For various reasons, people change their names. Divorce, marriage, a fresh start, etc. If you’ve changed your name, it’s important to update it on your shares. This ensures you can continue exercising your shareholder rights, such as voting and receiving dividends. Although it’s easy to overlook, updating your name on your shares is important. Continue reading to learn more about how to change your name on your shares.
How to Change Your Name on Shares
The process for updating your name on shares may vary depending on the business you own stock in. However, there are a few general steps you can take:
- Request a name change form from the company’s share registrar
- Complete the form and include any required supporting documents (such as a marriage certificate or deed poll)
- Return the completed form to the registrar
- The registrar will update your details on the shareholder register
- You’ll receive confirmation once the change has been processed
If you are also transferring ownership, professional share transfer services can help ensure everything is completed correctly.
Things to Consider
Supporting documentation – The required documents will depend on the company, but typically include a marriage certificate, a deed poll, or a divorce decree.
Costs – Some corporations may charge you a fee to change your name on shares. The price will vary according to the type of business.
Timeframe – The time it takes to change your name on shares may vary by company. However, the procedure is typically quick and easy.
Other shares – Make sure you update your name on all shares and investments.
Why Update Your Name on Your Shares?
- Keeps your records accurate and up to date
- Helps reduce the risk of fraud
- Makes selling or transferring shares easier
Keeping your details updated ensures you can continue exercising your shareholder rights, such as voting and receiving dividends.
Do You Need a Medallion Signature Guarantee?
In some cases, you may be asked to provide a Medallion Signature Guarantee when updating your name on shares. This is a verification method used to confirm your identity and protect against fraud, particularly when transferring or selling shares. Not all companies require this, but it is more common when dealing with higher-value holdings or shares held overseas. If a Medallion Signature Guarantee is needed, you will usually be informed by the share registrar during the process.
If you own stock in any corporation and have changed your name, you should amend the name on your shares as soon as possible. As a shareholder, you can protect your interests by completing this simple procedure.