Question about gifting shares via Vanguard - process?

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Weathering
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Question about gifting shares via Vanguard - process?

Post by Weathering »

I've been trying to gift shares to my 13-year-old daughter's UTMA account for five weeks now, but I can't seem to complete the process at Vanguard.
For those who have successfully gifted shares from one Vanguard account to another, can the process be done entirely electronically, or must I print the forms, get a medallion signature guarantee, then mail the forms?

I have completed the share gifting form using the DocuSign process. There is a checkbox to utilize Voice Verification rather than a Medallion Signature Guarantee, but the checkbox cannot be checked in the electronic version of the form (maybe I need to print it and use a pen to check this box). The DocuSign process completes and doesn't ask me to do anything more (it doesn't ask me to print the form or get a medallion signature guarantee). However, at that point, nothing happens. I wait a few weeks, and it's as if I didn't do anything (the form is not even in my saved forms list).
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bertilak
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Re: Question about gifting shares via Vanguard - process?

Post by bertilak »

If I remember correctly, the process involves using their "forms" page (https://investor.vanguard.com/search#q=forms). Hunt through that for
  • Giving Fund Shares Forms
    Give a gift of Vanguard mutual fund shares to an individual or organization.
I find a phone call works best.
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secondcor521
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Re: Question about gifting shares via Vanguard - process?

Post by secondcor521 »

I've done it by filling out the online form, but that was a gift from my Vanguard account to my kids' Schwab accounts using DTC transfers.

One would think that transferring to a Vanguard UTMA would be even easier, but maybe not.
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Weathering
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Re: Question about gifting shares via Vanguard - process?

Post by Weathering »

Today, I printed out the completed Vanguard forms from DocuSign, checked the box for voice verification instead of Medallion Signature Guarantee, then mailed them the Vanguard. I’ll update on what happens next. Once I figure this out, I plan to gift regularly in the future.
thenow
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Re: Question about gifting shares via Vanguard - process?

Post by thenow »

I normally like to try doing transactions online. But, since our adult children already had vanguard accounts we called Vanguard. You simply ask for change of ownership department. You’ll need the recipients Vanguard account numbers and tell them which account(s) you want to transfer and dollar amounts. We transferred money market accounts as well as mutual fund accounts in the past. It was a simple process. We then received an email confirmation on the transfers. Good luck with the transfers.
workingfornow
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Re: Question about gifting shares via Vanguard - process?

Post by workingfornow »

I’ve gifted ETF shares and mutual fund shares from our brokerage account to our kids’ brokerage accounts several times using docusign and the online form. Yes, there is no way to check voice verification (they should fix this) so I left that blank. Usually I get a call the same day or the next day asking me to voice verify. A couple of times I didn’t hear from them for days—I then called to have the transaction completed. We transferred shares using specific ID, so be sure to specify the dates/shares you want to transfer on the form if you wish to do that.
livesoft
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Re: Question about gifting shares via Vanguard - process?

Post by livesoft »

Weathering wrote: Mon Aug 22, 2022 1:01 pm I've been trying to gift shares to my 13-year-old daughter's UTMA account for five weeks now, but I can't seem to complete the process at Vanguard.
For those who have successfully gifted shares from one Vanguard account to another, can the process be done entirely electronically, or must I print the forms, get a medallion signature guarantee, then mail the forms?
Years ago, when I gifted shares to a child more than 18-years old, it was all done by hard paper copies: print forms, get a signature guarantee (not the same as a Medallion signature guarantee), then mail in the forms.
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Rd123123
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Re: Question about gifting shares via Vanguard - process?

Post by Rd123123 »

At the risk of reviving a zombie thread, I have found that with the online gifting form, if the account is a joint account, then both owners must digitally sign.

So for example,
- spouse A initiates the gifting online form
- spouse A digitally signs the generated DocuSign form

- spouse B must check their Vanguard messages. They will get a private message in their Vanguard account (mail envelope icon in upper right). The Vanguard private message will say "Reaccess your Gift of Nonretirement Assets to Existing Vanguard Account Form". It will have a checkbox and a button to click to launch DocuSign.
- spouse B will see spouse A's digital signature already marked on the DocuSign, and spouse B will need to digitally sign underneath. If you want to download or print a a copy for records, do it before you click "Finish", there is a print or download button on the Docusign form. Then, click "Finish". Once "Finish" is clicked, I have not found a way to view the form again.

After that, the Vanguard transfer of ownership department should receive the completed gifting form and start processing.

However, I have also run into cases where the primary account holder was able to submit the form without having the other joint owner sign anything. It is ... inconsistent, not always requiring the joint owner to sign, and I'm not sure why.

I always have to call a week later to find out if the gifting forms were received. An individual has to shepherd the process through to completion, unfortunately.

I still prefer this to US Postal service. I find it troubling the number of times I've had an important form or check lost in the mail on the way to or from Vanguard or other financial institutions.
Gnirk
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Re: Question about gifting shares via Vanguard - process?

Post by Gnirk »

My DH called Vanguard and had them transfer funds in kind to his son’s and his daughter’s accounts. However, we called at 5:00 am our time, so there was little to no wait time on the phone.
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