If you want to cash in stock held in a brokerage account or with the transfer agent of the firm that issued the shares, all you need to do is make a phone call or go online and place a sell order. Once the stock is sold, your account will be credited with the proceeds less transaction fees. When the shares are paper stock certificates, cashing them in is more complicated and will take some time.
Cashing In Stock Certificates
Before you cash in paper stock certificates, you need to convert them into book entry form with a broker or the transfer agent. This means you send in the certificates and they are converted into electronic book entries. Some brokers are reluctant to convert paper certificates. Others are more accommodating. Transfer agents must convert the shares into book entry form if you ask, and fees are low. Contact the transfer agent or a broker for specific instructions. You can obtain transfer agent contact information from the company that issued the stock certificates. Follow instructions for filling out the form on the back of the stock certificate if this is required. Mail the certificates to the broker or transfer agent using insured registered or certified mail. Enclose a letter requesting conversion of the shares to book entry form. Once you are notified the shares have been processed, go online or call and place an order to sell.
Video of the Day