Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

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need403bhelp
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Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by need403bhelp »

Thanks for all your past help!

I previously moved some ETFs in-kind from a joint brokerage account to an individual one at Merrill Edge (fully online) to take advantage of the Public transfer bonus.

I'd like to eventually pull the funds back from Public and then transfer in kind to a joint account. I don't want to do this at Merrill Edge as I plan to move assets there again in a joint account to take advantage of another transfer bonus.

Is it easy to do such an in-kind transfer at Vanguard or Fidelity fully online? If so, can you please help to explain the steps?

Thanks again!
terran
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by terran »

Within Fidelity you can easily transfer in-kind between a joint and individual accounts as long as one of the owners of the joint account matches the individual account. I can't remember which end it was on, but I do remember having some trouble transferring between Fidelity and Merrill when the accounts didn't match, so I would suggest making the transfer within either brokerage to get it to an account that matches with the ownership of the account you want to transfer to at the other brokerage.
nalor511
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by nalor511 »

Another confirmation, it's easy at Fidelity. Takes about 7-10 days after a purchase of shares, before I've been able to transfer them (not just the 2 day settlement, a longer than that). Their rationale was that they want to make absolutely sure there will be no transaction reversal, before they will let you move shares across registrations. You just go to Transfer->Shares <-- if you don't see "shares" as an option, then your shares are not yet sufficiently settled to transfer across accounts.
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need403bhelp
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by need403bhelp »

nalor511 wrote: Tue Jan 24, 2023 2:21 pm Another confirmation, it's easy at Fidelity. Takes about 7-10 days after a purchase of shares, before I've been able to transfer them (not just the 2 day settlement, a longer than that). Their rationale was that they want to make absolutely sure there will be no transaction reversal, before they will let you move shares across registrations. You just go to Transfer->Shares <-- if you don't see "shares" as an option, then your shares are not yet sufficiently settled to transfer across accounts.
Thank you so much, very helpful instructions! I wonder how long delay is after an incoming ACATS…
terran wrote: Tue Jan 24, 2023 1:50 pm Within Fidelity you can easily transfer in-kind between a joint and individual accounts as long as one of the owners of the joint account matches the individual account. I can't remember which end it was on, but I do remember having some trouble transferring between Fidelity and Merrill when the accounts didn't match, so I would suggest making the transfer within either brokerage to get it to an account that matches with the ownership of the account you want to transfer to at the other brokerage.
Thanks for the advice re fidelity and helpful advice re titling for ACATS transfers.
nalor511
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by nalor511 »

need403bhelp wrote: Wed Jan 25, 2023 12:47 pm
nalor511 wrote: Tue Jan 24, 2023 2:21 pm Another confirmation, it's easy at Fidelity. Takes about 7-10 days after a purchase of shares, before I've been able to transfer them (not just the 2 day settlement, a longer than that). Their rationale was that they want to make absolutely sure there will be no transaction reversal, before they will let you move shares across registrations. You just go to Transfer->Shares <-- if you don't see "shares" as an option, then your shares are not yet sufficiently settled to transfer across accounts.
Thank you so much, very helpful instructions! I wonder how long delay is after an incoming ACATS…
Very likely longer than with cash, because cost basis information doesn't usually even transfer until a week after the shares do. So you're looking at 2wk+. But if you're not in a hurry, you'll be able to do it fully yourself online once they fully settle at fidelity.
Topic Author
need403bhelp
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by need403bhelp »

nalor511 wrote: Wed Jan 25, 2023 12:50 pm
need403bhelp wrote: Wed Jan 25, 2023 12:47 pm
nalor511 wrote: Tue Jan 24, 2023 2:21 pm Another confirmation, it's easy at Fidelity. Takes about 7-10 days after a purchase of shares, before I've been able to transfer them (not just the 2 day settlement, a longer than that). Their rationale was that they want to make absolutely sure there will be no transaction reversal, before they will let you move shares across registrations. You just go to Transfer->Shares <-- if you don't see "shares" as an option, then your shares are not yet sufficiently settled to transfer across accounts.
Thank you so much, very helpful instructions! I wonder how long delay is after an incoming ACATS…
Very likely longer than with cash, because cost basis information doesn't usually even transfer until a week after the shares do. So you're looking at 2wk+. But if you're not in a hurry, you'll be able to do it fully yourself online once they fully settle at fidelity.
Makes sense, thank you.
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Indianrock
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by Indianrock »

I don't see that anyone answered this question with regard to a totally Vanguard transfer. E.g. Vanguard taxable Joint to Vanguard taxable individual?? Elsewhere on this forum it was suggested that a phone call might be in order due to possible capital gain or other considerations you might not handle as intended doing it all online.
If I was king: once a stock is purchased, you hold it for 30 days.
Topic Author
need403bhelp
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by need403bhelp »

Indianrock wrote: Sat Jan 28, 2023 11:02 am I don't see that anyone answered this question with regard to a totally Vanguard transfer. E.g. Vanguard taxable Joint to Vanguard taxable individual?? Elsewhere on this forum it was suggested that a phone call might be in order due to possible capital gain or other considerations you might not handle as intended doing it all online.
Thanks for the helpful information re needing to call to do an in-kind stock/ETF transfer from an individual to joint account at Vanguard.

Re capital gains, my understanding is that, since the transfer is in kind, there should not be any capital gains or losses (other than, perhaps, if fractional shares must be sold). Is this incorrect?

I suppose people who have joint accounts but are not two US citizens married to each other could have gift tax implications in such a transfer, but I would guess Vanguard would not venture into a discussion re such issues on the phone anyhow...
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Indianrock
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by Indianrock »

I'm going to call Monday because I'm hoping to do an in-kind transfer from a joint taxable account at Vanguard to two individual taxable accounts at Vanguard. It's only on individual accounts you can set up beneficiaries -- my main goal.
If I was king: once a stock is purchased, you hold it for 30 days.
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need403bhelp
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by need403bhelp »

Indianrock wrote: Sat Jan 28, 2023 6:42 pm I'm going to call Monday because I'm hoping to do an in-kind transfer from a joint taxable account at Vanguard to two individual taxable accounts at Vanguard. It's only on individual accounts you can set up beneficiaries -- my main goal.
Thanks for the update. Please do let us know what happens. I’ll probably end up doing Fidelity if easy to do online. Can always ACATS to vanguard later anyhow
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Indianrock
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by Indianrock »

Changed the joint taxable account to Specific ID cost basis. In a day or two when that rolls through, I can make the transfers in kind from joint to the two new individual accounts where we've assigned the desired beneficiary structure. :D

Customer Support/change of ownership confirmed that since it's all remaining in the same fund at Vanguard, VTSAX, we aren't actually selling shares so no negative aspects.
If I was king: once a stock is purchased, you hold it for 30 days.
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need403bhelp
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Re: Transfer-in-Kind Individual->Joint Fully Online - Vanguard? Fidelity?

Post by need403bhelp »

Indianrock wrote: Mon Jan 30, 2023 7:34 am Changed the joint taxable account to Specific ID cost basis. In a day or two when that rolls through, I can make the transfers in kind from joint to the two new individual accounts where we've assigned the desired beneficiary structure. :D

Customer Support/change of ownership confirmed that since it's all remaining in the same fund at Vanguard, VTSAX, we aren't actually selling shares so no negative aspects.
Thank you for sharing your experience .
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