NFS Gifting Shares, Charitable Contributions

Overview:

Gifting shares in NFS to other NFS account holders or accounts held at other firms can be done through ICP with the delivery selection under transactions.

NOTE: **As always, direct the client to consult with a tax advisor to discuss Qualified Charitable Distributions and IRS Compliance.

Procedure:

-An LOI [Letter of Instruction] can be provided by the client to make this transaction. 

-The LOI should have main details such as that this is a GIFT/CHARITABLE CONTRIBUTION security name/CUSIP being transferred, account number/firm being gifted, name/SSN of the person receiving the securities.  This should then be signed by the account holder transferring the securities.

-On ICP Transactions > Delivery

NOTE: "Delivery type" would be the preference of the receiving firm. 

Delivery Types:

DTC-DTC Delivery 

DVP-DTC Delivery vs Payment

DWAC-Deposit Withdrawal at Custodian

GOVT-Government Delivery

GVP-GovernmentDelivery vs Payment

SDTC-DTC Short

SDVP-DTC Short vs Payment

SGOV-Government Short

SGVP-Government Short vs Payment 

NOTE: "Delivery type" would be the preference of the receiving firm. 

TXN.DLVY.PROCESSOR.NR

Please see Marketing Fulfillment Center on NFS for documents below if needed. 

Cash & Securities Transfer Request form to journal or  assets from an account to third party or giving stocks to someone as a gift.

One-Time Distribution Request - Charitable Distribution form for a Charitable Contribution.