Medallion Guarantee

IWC are regulated by the Society of Will Writers and Estate Planning Practitioners

IWC Estate Planning
& Management Ltd is
Registered in England
No 4532330

Medallion Guarantee

If you are administering an estate, you may need to transfer stocks and shares into the names of beneficiaries or sell the deceased's holding. In order to do this, you may be required to obtain a medallion guarantee also referred to as the medallion bar-code or signature guarantee.

IWC can offer assistance if you need to obtain a medallion guarantee to access shares or funds from the USA. We have expertise in dealing with American securities, overseas probate and the tax requirements of the IRS (Internal Revenue Service) in the USA. For more information on our services, call us on 0800 612 6105 or 0044 208 150 2010.

The Transfer of US Shares when the owner is deceased

There are official procedures in place in order to transfer ownership of stocks and shares in the US. This can be a difficult procedure; including completing the relevant forms, providing copies of official documents and there may be a tax implication. It is slightly easier to transfer shares into the co-owners name from a joint account when the other owner has passed away. Either way, here's some of the documentation that may be required.

Transfer of Stock Ownership Form
A copy of the death certificate
A copy of the grant of probate or letters or administration
Original Stock Certificates (unless in electronic form)
Inheritance Tax Waiver
An affidavit stating that the deceased was not a US citizen or resident
Federal Transfer Certificate if the estate exceeds $60,000
A medallion guarantee

What is a Medallion Guarantee?

In America, after the shocking events of 9/11, the barcoded medallion guarantee was introduced to help prevent cross border fraud. It is a guarantee whereby the transferring financial institution certifies that the signature is genuine and thus, accepts liability for any forgery.

Signature guarantees protect shareholders by preventing unauthorised transfers and possible losses for investors. They also limit the liability of the transfer agent who accepts the certificates. The medallion signature guarantee is now a statutory requirement in the United States of America if you wish to transfer stocks, shares and bank account funds.

If you own stocks and shares and you wish to sell them or if you are an executor of a person's estate and the deceased had stocks and shares in the USA, the stock transfer forms will need to be stamped with the medallion guarantee.

A public Notary is unable to provide this service; it can only be done by financial institutions that belong to the Securities Transfer Agents Medallion Program (STAMP). There are over 7,000 US and Canadian banks with agents available but what do you do if you're in the UK?

IWC can process a medallion signature guarantee UK, on your behalf. There are certain legal documents we'll need to verify your identity, proof of your ownership or capacity to act, death certificate or grant of probate and verification of the approximate value of the shares.

For further details or to appoint us to process your medallion guarantee please contact IWC free on 0800 612 6105 or call 0208 150 2010 from your mobile (use 0044 if calling from overseas).

0800 612 6105 020 8150 2010

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