An Off Market Transfer (sometimes also known as an in-specie transfer) is a method of transferring securities privately from one party to another when there is a change of legal ownership.
Examples of when this might occur:
- Transferring shares from your individual account to your SMSF or trust
- Transferring shares from your individual account to your joint account
- Transferring shares from a minor account to the minor turned adult.
- Transferring shares from a minor account to an individual (adult) account
How to complete the form:
There are various sections that are required to be completed which we'll aim to break down in a straightforward manner for you. Additionally, if you prefer, please take a look at the first attachment at the bottom of the email. It's a pre-filled template to show how the form should be completed.
| Section | What needs to be input here | Tip |
| 1 - Consent for Selfwealth to debit the fee | Please tick here to consent to the OMT fee if applicable | If your shares are held externally and are being transferred TO Selfwealth, you can only tick the buyer here. |
| 2 - Full name of Security / Stock | The full name of the company or corporation in which securities are held | For example: if you held TLS shares, this would be: Telstra Group Ltd |
| 3 - Description of Securities | Ordinary Fully Paid | Most shares traded on the ASX and available on the Selfwealth platform are fully paid shares. |
| 4 - Quantity | Quantity of shares in words | For example: Two thousand and thirty three |
| 4 - Figures | Quantity of shares in number format | For example: 2033 |
| 5 - Full name/s of Transferor/s (Seller/s) | The SELLER's full name including any designation (if applicable). If the Seller is a Selfwealth account, the name must reflect the CHESS registration details exactly. | To locate your registration name, Go to Trading Account > Account Details. If held externally, please check your latest holding statement to ensure the correct registered name is used on the form. |
| 6 - Transferor/s (Seller's) HIN / SRN | The HIN attached to your shares. If held on a HIN, the number is preceded with an "X". If you hold shares on an SRN, then you would insert the SRN here. All SRN's are preceded with an "I" | To locate your HIN, Go to Trading Account > Account Details If held externally, please check your latest holding statement to ensure the correct HIN is used on the form. |
| 7 - Trading A/c | The trading account number where the shares are currently held. If the Seller's account is held a Selfwealth, this would be your Selfwealth ID. | To locate your Selfwealth ID, Go to Trading Account > Account Details |
| 8 - Broker PID | The seller's broker Participant Identification Number | This helps us identify which broker to submit your request to. For example, if you held shares with Commsec, the PID would be 01402. If shares are coming from a Selfwealth account, please use PID 03772 |
| 9 - Consideration | This should aim to reflect reasonably accurately the market value of the shares at the time of transfer. | To calculate – multiply the number of units to be transferred by the market price. |
| 10 - Date of Transfer | This simply means the date that the transfer is to occur. | This can be an estimate, but must not precede three months prior to form submission. |
| 11 - Full name/s of Transferee/s (Buyer/s) | Insert full name of BUYER including designation, if applicable. If the Buyer is a Selfwealth account, the name must reflect the CHESS registration details exactly. | To locate your registration name, Go to Trading Account > Account Details. If held externally, please check your latest holding statement to ensure the correct registered name is used on the form. |
| 12 - Full postal address of Transferee/s (Buyer/s) | Insert full address, including the postcode. Please ensure what is written on the form matches the CHESS registration exactly | To check your registration address, Go to Trading Account > Account Details. If held externally, please check your latest holding statement. |
| 13 - Transferee/s (Buyers/s) HIN | Please quote the HIN of the Buyer in which the security is to be transferred to | To locate the HIN, Go to Trading Account > Account Details If held externally, please check your latest holding statement to ensure the correct HIN noted on the form. |
| 14 - Trading A/c | The trading account number where the shares will be transferred to. If the Seller's account is held a Selfwealth, this would be the Selfwealth ID. | To locate a Selfwealth ID, Go to Trading Account > Account Details |
| 15 - Broker PID | The BUYER's sponsoring broker's Participant Identification Number (e.g. Selfwealth's broker, FNZ Custodians' PID is 03772). If held externally, you will find the correct details on a recent CHESS holding statement or by contacting the other broker. | This helps us identify which broker to submit your request to. For example, if you held shares with Commsec, the PID would be 01402. If shares are coming from a Selfwealth account, please use PID 03772 |
| 16 - 18 Transferor/s (Seller/s) & Transferee/s Buyer/s sign and date here | Ensure the form has been signed and date by BUYER and SELLER | The signature/s must be in pen (wet ink) which is an industry standard requirement |
What else might be required?
- If shares are held on an SRN, a recent issuer sponsored statement will need to be supplied along with a photo of each account holder (Seller only) holding their ID and a piece of paper with the current date written on it.
- Proof of ID for all parties, ensuring the signatures match the signed instruction
Am I able to correct a mistake on the form?
Yes, you can can cross out the error and make an alteration Please ensure both Buyer/s and Seller/s initial the change. Note that whiteout cannot be used.
(This is with the exception of an alteration to the amount of securities being transferred. If there is an increase to the unit amount, a new form must be completed.)
Do I have to complete a new OMT for each security I wish to transfer?
Yes, to transfer multiple securities, you'll need to complete multiple forms. However, if the off market transfer is between two Selfwealth accounts, you may use our internal bulk off market transfer form instead. You'll be able to find a copy of this form attached at the bottom of this article. We've also included an example of how this should be completed here:
What fees are charged?
Most off market transfers incur a fee of $27.50 per transfer (per security) with the exception of the following type of (internal)* transfers:
- An off market transfer that arises due to a change of trustee
- An off market transfer that arises due to relinquishing assets from a Selfwealth deceased estate account
- An off market transfer that arises due to a parent or guardian wishing to transfer their shares held for a minor to the minor (that is now an adult)
*An internal transfer is considered to be a transfer between two Selfwealth accounts.